Following SpaceX’s recent Starship test launch, unrelated crypto tokens like SPACEX surged, with SPACEX rising 5824% in 24 hours. The token’s market cap now stands at $80,800, trading at $0.012192.
Prices for the cryptocurrency tokens SpaceX and StarShip have increased since the launch of SpaceX’s most recent mega-rocket, the Starship, on October 14. The Starship completed its test flight on the previous Sunday.
Although these tokens are not associated with Elon Musk’s space technology company, the launch of the massive rocket that garnered attention was sufficient to increase the prices of these counterfeit tokens on various platforms.
The price of the PancakeSwap-powered token SPACEX has increased by 5824% in the past 24 hours of trading, as indicated by data from CoinMarketCap. At the time of writing, SPACEX is trading at $0.012192 and has a market capitalization of $80,800.
Concurrently, the Solana(SOL)-powered SpaceX, another token with the same name, experienced a 216% increase in the past 24 hours, as reported by CoinMarketCap. The token has since experienced a significant decline, with a current value of 84.56% at the time of writing. It has maintained a market capitalization of $16,400, despite this decline.
According to CoinGecko, the price of an NFT-game token with the same name as SpaceX’s recently launched megarocket, StarShip, experienced a fleeting surge of 0.9% following the launch. StarShip’s market capitalization is $404,251, and its price is currently $0.0215.
CoinMarketCap has also reported that an additional token associated with the spacecraft was generated on the Ethereum (ETH) blockchain; however, the platforms have yet to monitor the token’s price fluctuations.
According to a report from the Associated Press, the 400-foot-tall Starship rocket was launched at sunrise near the Mexican frontier on Oct. 13. The rocket followed a similar trajectory to the four previous Starships that were ultimately annihilated, arcing over the Gulf of Mexico. Nevertheless, this starship was spared from that catastrophe.
The rocket was effectively captured by the metal arms of the launch tower, which were referred to as “chopsticks,” upon its return to the launch base.
Elon Musk, the Chief Executive Officer and Chief Technology Officer of SpaceX, stated in an X post that the megarocket was engineered with a booster that can be refueled within an hour of its launch.
Musk clarified that the remaining time is spent reloading propellant and placing a spacecraft on top of the booster, as the booster returns within approximately five minutes.
Despite the fact that he has not personally developed any legitimate tokens, Elon Musk has been recognized for his influence in the cryptosphere. The industrialist has been a fervent supporter of Dogecoin, and he even financed a space mission that was postponed last year using the cryptocurrency.
Bitcoin, Dogecoin, and SHIBA INU have experienced double-digit gains numerous times due to his concise posts on X.
On April 8, viewers were deceived into participating in false Space X giveaways on YouTube by a series of deepfake videos featuring Musk. These videos were presented as live streams focused on the solar eclipse that was taking place at the time.
