Cryptocurrency News

StarLink Reportedly Experiences a Huge Rally and Reason is Elon Musk

When the cryptocurrency industry started earning its name in the year 2020, it didn’t have the support of many billionaires or high-profile investors. This is when personalities such as Elon Musk came into the picture and took the entire crypto sector by storm.

No matter how much the cryptocurrency plus the mainstream sector may criticize Elon Musk, his words truly matter to the cryptocurrency investment community. Even if he is not directly mentioning or talking about cryptocurrencies, he has proven to be a big-time teaser in terms of cryptocurrencies.

The entire cryptocurrency who are also his followers on different social media platforms including Twitter is always waiting for him to give a hint about cryptocurrencies. Surprisingly, Elon Musk does not seem to let down the entire cryptocurrency community with his hidden messages.

Most of the time, Elon Musk has triggered huge rallies for cryptocurrencies such as Dogecoin (DOGE) and Shiba Inu (SHIB). There were many mainstream investors including politicians who criticize Elon Musk’s involvement in artificially creating hype surrounding cryptocurrencies.

Still, the richest man in the world has not let the criticism of others get the best out of him. He has been playing the entire crypto-run in a very cool manner and he is constantly involved in creating hype around different cryptocurrencies.

This time again, Elon Musk has managed to create a lot of hype for another meme coin. This time, the meme coin he has managed to boost is StarLink (STARL).

Surprisingly, this time, Elon Musk did not commit any crime by himself but the developers of StarLink have managed to do it on their own. The name of the particular meme coin is exactly what Elon Musk has been backing. Starlink is the name of the satellite internet constellation that is owned by Elon Musk.

It was sheer coincidence that things happened to work out in favor of StarLink as the cryptocurrency was launched around the same time as Starlink’s latest space mission.

It was on November 11, 2021, when the second rocket was launched by SpaceX, carrying the Starlink satellites. Just like any enthusiastic CEO, Elon Musk went on social media to announce the launch of the second rocket carrying 53 satellites for Starlink.

However, it ended up causing a huge rally for StarLink in the cryptocurrency universe. From November 11, 2021, until November 15, 2021, StarLink observed a colossal rally, experiencing a 115% rise in its price in a matter of four days.

Data from one of the major on-chain data analyzing firms revealed that the price of StarLink came all the way up to $0.00008 from $0.00003724 in a matter of four days.

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