Elon Musk has cemented his place in mainstream media as the wealthiest man in the world. In August 2022, Elon Musk’s net worth was $254 billion, $90 billion more than Jeff Bezos. Since Elon Musk has amassed so much wealth, his following has increased also. The CEO of Tesla now boasts an impressive 100 million followers on Twitter. But what does this mean for cryptocurrencies?
Musk has had a turbulent relationship with Dogecoin (DOGE) thus far. However, for the most part, Dogecoin has seen colossal price spikes from endorsements by Elon Musk. The Tesla CEO has almost finalised his Twitter deal, and Dogecoin has risen by 30.91% in seven days!
So, considering Elon Musk’s sphere of influence on meme coins in the past, can we expect the same to happen to Big Eyes Coin (BIG)? Big Eyes Coin is a new meme token that, unlike Dogecoin, focuses on utility in its ecosystem. This editorial piece will examine Dogecoin and Big Eyes Coin and whether Elon Musk’s sphere of influence will reach the new meme token.
Celebrities are attracted to sustainable cryptocurrencies. That is what you can find with Big Eyes Coin. The platform has introduced a charity wallet containing 5% of its tokens. Once the platform launches, these tokens will go directly to ocean conservation charities. Additional funds will reach the charity wallet from NFT tax fees on the Big Eyes Coin platform.
Furthermore, Big Eyes Coin will build on the Ethereum (ETH) blockchain. While the old Ethereum blockchain was notorious for slow transaction speeds and a high carbon footprint, Ethereum 2.0 performs at a significantly higher level. The carbon footprint of the Ethereum blockchain has been reduced by 99.95%, improving Ethereum and Big Eyes Coin’s sustainability.
If Big Eyes Coin maintains a sustainable ecosystem, it could receive attention from Elon Musk, potentially skyrocketing the token value. Elon Musk has previously shown his support for environmentalism, becoming the CEO of a company that builds electric cars.
Although Dogecoin entered the market as a joke by Jackson Palmer and Billy Markus, the coin saw a quick rise to fame. Since its rise to fame, Dogecoin has fallen victim to price volatility. In May 2021, DOGE was worth $0.731578. However, at the time of writing, DOGE is worth $0.07756!
While Dogecoin has suffered volatility, its community has remained strong, ensuring Dogecoin’s place in the top ten cryptocurrencies by market capitalisation. Additionally, celebrity endorsements have contributed to the success of Dogecoin, with Snoop Dogg and Elon Musk helping the meme coin giant experience price spikes.
Following the news of Elon Musk’s Twitter deal, Dogecoin looks to continue its positive trend, potentially helping it pass Solana (SOL), the ninth-largest cryptocurrency.
Dogecoin is the level of success that every meme coin aspires to achieve. Its light-hearted nature and fun characteristics have helped it build a loyal following with regular endorsements from celebrities.
However, Big Eyes Coin has introduced utility to its ecosystem, something other meme coins overlook. The new token also exudes sustainability, which will attract high-profile figures that are involved in environmentalism. If the platform adheres to its goals, Elon Musk’s sphere of influence could reach Big Eyes Coin.
For more information on Big Eyes Coin (BIG), please visit the following links:
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