Grape tweets: Crypto traders again took advantage of Elon Musk’s love for monosyllabic tweets as an excuse to pump another unknown token.
Everyone knows grapes
The cryptocurrency community is once again in turmoil. Early Sunday morning, Jan. 16, multi-billionaire and Tesla CEO Elon Musk tweeted a picture from Wikipedia showing grapes with the caption “everyone knows what grapes are.”
“Very informative,” Musk wrote in a comment.
Twitter commenters immediately launched a contest for the wittiest interpretation of the message.
User @WokePC commented :
“Maybe a next-gen Tesla will run on grape fuel. I’m going to open a vineyard immediately.
But there were also those who linked Elon Musk’s message to the GRAPE token:
“Oh my god it’s Grape Coin go guys go go,” someone with the nickname @fine_mesh wrote.
Judging by the dynamics of the token, many heeded his advice.
A tweet consisting of just two words and a picture of a fruit was enough for the price of the $GRAPE token to almost double within minutes.
GRAPE started the day on January 16 at $0.047. However, four hours after Elon Musk’s tweet, they were already giving $0.078 for it. As expected, the pump did not last long. At the time of writing, GRAPE costs $0.06. During the day, the token fell by 5%, but on a weekly basis, it is still trading with an increase of 13%. The all-time high was reached on September 15, 2021 at $0.347, since then the coin has lost 82% of its value.
It’s happened before, and here it is again
Elon Musk is known for his monosyllabic tweets. The crypto trading community invariably interprets these tweets as support for one coin or another. Last week the DOJO token grew by 500%
in just half an hour because Musk tweeted the word.
Despite the high volatility, the token is still 155% more expensive than a week ago.
In October 2021, Musk crashed the Shiba Inu token by 26% with his tweet. Experts believe that the reaction of the market to the tweets speaks of the immaturity of the market.
What is GRAPE
GRAPE is a token for the Solana-based Grape protocol. It offers users a set of tools with which to create communities within the Solana ecosystem.
The developers of the project claim that with Grape you can create any online community and organize it in your own way. One of the tools – GRAPE Access – binds social network accounts to unique cryptographic keys and issues permissions and access rights depending on how many coins are on the user’s balance.
