Tesla CEO Elon Musk has been criticized for wielding what many perceive to be irresponsible influence over the cryptocurrency market. Musk regularly took to Twitter to post memes and hot takes on various cryptocurrencies throughout most of 2021, not least Bitcoin (BTC) and Dogecoin (DOGE).
Musk soon added another coin to that list — CumRocket (CUMMIES). CumRocket is described as a “revolutionary deflationary token” aimed towards use by those in the adult film industry.
On June 4 Musk posted a cryptic tweet with three words listed: Canada, USA, Mexico. Observers interpreted this as Musk cheekily writing the word “CUM”, and within hours the price of a little known token called CumRocket more than doubled.
Fast forward 24 hours and Musk was at it again. This time he posted a sequence of emojis which could reasonably be interpreted as “CumRocket to the moon”.
— Elon Musk (@elonmusk) June 5, 2021
Within just ten minutes, the price of CumRocket jumped from $0.06