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SpaceX crypto copycat tokens, not affiliated with the company, have soared past 5824% after SpaceX’s successful Starship test launch on Sunday.
On Oct. 14, prices for cryptocurrency tokens SpaceX and StarShip, have been taking off in the wake of SpaceX‘s newest megarocket Starship launch, passing its test flight last Sunday.
Although these tokens are not affiliated with Elon Musk‘s space technology company, the launch of the enormous rocket that made headlines was enough to boost the prices of these copycat tokens on different platforms.
According to data on CoinMarketCap, the PancakeSwap-powered token SPACEX saw its price skyrocket by 5824% in the past 24 hours of trading. SPACEX’s market cap currently stands at $80,800 and is selling at $0.012192 at the time of writing.
Meanwhile another token with the same name, the Solana(SOL)-powered SpaceX, soared 216% in the last 24 hours, according to CoinMarketCap. At the time of writing, the token has since plummeted to 84.56%. Despite this drop, it has maintained a market cap of $16,400.
An NFT-game token that bears the same name as SpaceX’s newly launched megarocket, StarShip, also saw a brief blast-off in its price by 0,9% after the launch according to on CoinGecko. StarShip’s price now stands at $0.0215 with a market cap of $404,251.
Another token dedicated to the spaceship was also created on the Ethereum(ETH) blockchain according to CoinMarketCap, but the platforms have yet to track the token’s price fluctuations.
Based on a report from Associated Press, the 400-feet-tall Starship rocket blasted off on Oct. 13 at sunrise near the Mexican border. The rocket arced over the Gulf of Mexico, following a similar pattern as the four previous Starships that ended up being destroyed. Though, this Starship did not share that fate.
Upon returning to launch base, the rocket was successfully caught by the launch tower’s metal arms, dubbed chopsticks.
Chief Executive Officer and Chief Technology Officer of SpaceX, Elon Musk, said in an X post that the megarocket was designed with a booster that can go into reflight within an hour after its launch.
“The booster returns within ~5 minutes, so the remaining time is reloading propellant and placing a ship on top of the booster,” explained Musk.
Just inspected the Starship booster, which the arms have now placed back in its launch mount. Looks great!
— Elon Musk (@elonmusk) October 14, 2024
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 has been known for his influence in the crypto sphere, despite not creating any official tokens himself. He has been an avid champion of Dogecoin, with the billionaire even supporting a space mission funded by the cryptocurrency Dogecoin that got delayed last year.
His brief posts on X have inspired double-digit gains for Bitcoin, Dogecoin, and SHIBA INU on multiple occasions.
On April 8, multiple deepfake videos of Musk scammed viewers into taking part in fake Space X giveaways on YouTube, disguised as live streams centered around the solar eclipse that was happening at that time.