Elon Musk's recent tweet referencing the CumRocket (CUMMIES) cryptocurrency caused the price to spike by 68%. The tweet featured a meme with the popular internet character Pepe the Frog discussing tax implications with the IRS regarding "cumrocket" and "NFTitties." This sudden surge in price was short-lived but still significantly higher than before Musk's tweet. Musk's ability to generate interest in cryptocurrencies with his tweets has been well-documented since he praised Dogecoin in 2019. CumRocket was created by a British TikToker and software engineer and gained attention when adult actresses served as ambassadors for the token. Previous tweets from Musk referencing CumRocket also caused price increases. It is worth noting that Musk's influence on meme coins has faced legal challenges but has ultimately been deemed as aspirational statements. It was discovered that FTX co-founder Sam Bankman-Fried may have owned CumRocket, purchasing the tokens for $173,000 worth of BNB and later converting them to Ethereum with a significantly lower value. This recent event is not the first time a meme coin has experienced a price jump due to Musk's Pepe-related posts.



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