Elon Musk shared a popular interstellar meme about cryptocurrency volatility
The price of meme cryptocurrency Dogecoin spiked roughly 2% to reach an intraday high of $0.167 after Tesla CEO Elon Musk tweeted a popular cryptocurrency meme inspired by Interstellar, Christopher Nolan’s epic science fiction film.
The meme references the instances of extreme gravitational time dilation that were depicted in the hit film.
After landing on Miller, a water planet orbiting very close to a fictional black hole called Gargantua, Joseph Cooper (Matthew McConaughey) tells his crew that seven years on Earth is equal to just one hour there because of strong gravity. A screenshot from the visually-gripping scene featuring Amelia Brand (Anne Hathaway) and Doyle (Wes Bentley) became a meme a few years after the premiere of Interstellar, gaining traction on Facebook and Reddit.
The amazing concept of time dilation, which is central to the film’s plot, has also become a source of jokes within the cryptocurrency community due to the fact that Bitcoin and other cryptocurrencies have tend to be notoriously volatile. Last year, Dogecoin, the biggest meme coin, gained 19,090% in just three months, making some of its holders extremely wealthy in a relatively short period of time. Now, the canine coin is down 77.56% from its all-time high.
The mercurial nature of crypto also leads to frequent sentiment changes, with people turning bearish or bullish after a single significant move in either direction.
Musk, whose frequent tweets about Dogecoin fueled last year’s rally, helped rekindle interest in DOGE earlier this month by making select Tesla products purchasable with the original meme coin.
