Elon Musk’s post criticizing the justice system led to a 10% surge in Solana’s PNUT token price within 24 hours. The token’s trading volume spiked by 80%, exceeding 214 million USD, highlighting Musk’s notable impact on cryptocurrency market dynamics.
Musk’s posts have historically correlated with price movements in cryptocurrencies. His commentary on political matters tends to drive trader sentiment and can result in significant increases in asset prices, as evidenced by the reactions to his tweets about the PNUT token.
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