The post Trader Nets $1M as Elon Musk’s Latest Name Swap Sends HARRYBOLZ Token Soaring appeared on BitcoinEthereumNews.com.

Elon Musk’s recent name change on X (formerly Twitter) has triggered another crypto market reaction.  On Tuesday, the billionaire entrepreneur switched his display name to “Harry Bōlz,” marking the second time he has used this alias. His unexpected online activities have previously influenced digital assets, and this instance appears to follow the same pattern. Elon Musk changed his name on X. pic.twitter.com/XhflCkvz2b — TheCryptoBasic (@thecryptobasic) February 11, 2025 HARRYBOLZ Spike Following Musk’s Change Shortly after Musk altered his display name, an obscure digital asset with the same title saw an immediate price surge. Lookonchain, a smart money tracker on X, shared data showing that HARRYBOLZ spiked to $0.025 following the update. The movement reflects a recurring trend where Musk’s social media actions correlate with sudden market reactions in the crypto space. Meanwhile, a trader identified as “LeBron,” known for past profitable trades on tokens like MELANIA and TRUMP, capitalized on the latest development. The wallet initially acquired 128.8 million HARRYBOLZ for 25 SOL ($4,807) four days before Musk’s name change.  The trader later sold 109.8 million HARRYBOLZ for 3,649 $SOL ($737,000), securing a total profit of approximately $1 million. He also retained 18.97 million HARRYBOLZ valued at $277,000 at the time of Lookonchain’s report. For context, the name “Harry Bōlz” humorously plays on the slang phrase “hairy balls,” incorporating a cheeky twist in its wording. Trader’s Profitable History in Meme Tokens The same wallet previously made significant profits on two politically themed digital assets. Data indicates that the address benefited from a 1,000% increase in MELANIA, yielding a realized profit of $8.9 million. Meanwhile, the same wallet saw a 190% upside from TRUMP, resulting in a $3.2 million gain.  Musk has a history of indirectly influencing the crypto market through spontaneous online activity. His previous display name change in December…

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Filed under: News - @ February 11, 2025 8:24 pm