From Nasdaq, Inc.:

Elon Musk’s tweet showcasing his company’s humanoid robot, Optimus, ignited a surge in the price of memecoin Optimus AI. The coin, trading at 21 cents with a market cap of 21.8 million, immediately surged to a market cap of about 28 million after Musk’s tweet.

Blockchain entrepreneur Bruno Volcovinsky told Benzinga that Musk’s statements serve as a cue to invest in related memecoins. Musk’s pronouncements have been credited with driving up the price of Dogecoin by over 8,000% in 2021, and now his focus has shifted towards AI tokens, with OPTI and potentially others experiencing similar pumps.

However, history shows that Musk-induced rallies often prove fleeting. After initial surges, Dogecoin often witnessed price corrections, and the same happened to OPTI, which retraced its entire price pump and is trading around 20 cents at the time of writing. Spotting narratives is not that easy, after all.



Read more: Elon Musk Tweets Optimus Robot Video, OPTI Token Jumps 25%: ‘Opportunity For Quick Money-Making,’ Says Expert