A tweet with a warning about falling for any of the different fake tokens named after X, Twitter or Elon Musk, surfaced earlier today and got some traction. Some examples of these tokens that might seem to be related to what they are named after to new users are X and TW. There are also some meme coins that try to get a foot in by going for names like TWITTERDOGE and X/TWITTER. Earlier this year we saw an example of how Musk are able to affect the market, when he decided to change the Twitter logo to the logo of Dogecoin. This made the famous meme coin quickly rise 27%. 

Lately we have also seen a lot of speculations regarding a what decisions will be taken by X when it comes to cryptocurrencies, that many in the industry could be pushing prices up because of the traction it can create. With the upcoming Bitcoin halving in 2024 (that have pushed up prices greatly the past halving) together with the possibility of X implementing cryptocurrencies on the site, maybe could be factors for a more bullish market. If we are going to move out of this crypto winter, maybe this year is the perfect movement to build a broad portfolio. But the speculations of X launching their own crypto token got shot down by Musk himself in a comment on Twitter, where he stated that they will never launch their own crypto token: 



But this is not the first time that the Chief Executive Officer of Tesla Motors have commented on different speculations regarding his planned business ideas, where he later seemed to have changed his mind. So is this comment about X launching their own token really taking away all the chances of this happening? Only time will tell. But what we do know is that Musk with his big following got a lot of power when it comes to affecting the market.

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