Crypto tokens linked to SpaceX saw an unprecedented rise after the aerospace company’s latest Starship test launch, despite having no official affiliation. The launch, which took place on October 13, sent the prices of various tokens mimicking SpaceX and its technology skyrocketing.
Unaffiliated Tokens Surge
StarShip token price chart in the past 24 hours, October 14, 2024 | Source: CoinGecko
The PancakeSwap-powered token “SPACEX” experienced a remarkable 5824% increase in just 24 hours, hitting $0.012192, with a market cap of $80,800, according to CoinMarketCap. Another “SpaceX” token built on the Solana blockchain also rose by 216%, though its gains later dropped to 84.56%, settling with a market cap of $16,400.
Starship NFT Token Gains Briefly
A token named after SpaceX’s megarocket, “StarShip,” saw a modest 0.9% increase in value after the launch, with its price now standing at $0.0215 and a market cap of $404,251, as reported by CoinGecko.
Just inspected the Starship booster, which the arms have now placed back in its launch mount. Looks great!
A few outer engine nozzles are warped from heating & some other minor issues, but these are easily addressed.
Starship is designed to achieve reflight of its rocket… pic.twitter.com/oWZoOOfHmk
— Elon Musk (@elonmusk) October 14, 2024
Elon Musk, CEO of SpaceX, has previously demonstrated his influence in the crypto space, causing surges in tokens like Dogecoin and Bitcoin through brief social media posts. However, SpaceX has not officially endorsed any cryptocurrency tokens.
Starship Success Fuels Crypto Interest
SpaceX’s 400-foot Starship rocket made headlines by successfully completing its test flight without destruction, marking a significant milestone for the aerospace company. This excitement appears to have spilled over into the cryptocurrency market, with investors flocking to tokens linked to Musk’s ventures.
