In news that sounds like you asked an AI robot to write a 2021 news headline, Elon Musk tweeted about a very real cryptocurrency called CumRocket, causing it to spike by approximately 350 per cent. You simply cannot make this shit up.
At this point, the entire crypto industry feels like a giant meme, but even when coins are named after, well, cum, people are still making bank.
So what exactly is CumRocket and why is Elon Musk trying to send it to the moon? And perhaps most importantly, is it worth investing in?
What Is CumRocket
If cryptocurrencies were humans, CumRocket ($CUMMIES) would be… well, cum. The coin only launched in April 2021, so it is quite literally still in its infancy.
The coin actually started specifically for the CumRocket NSFW NFT marketplace of the same name (warning: that’s an extremely NSFW hyperlink, click at your own risk), but has since been adopted by meme crypto enthusiasts worldwide.
$CUMMIES was designed to allow people to freely buy and sell adult content with complete anonymity.
“This is different from other marketplaces because people will be able to post full pornographic videos and buy them, send them, sell them, collect them,” the CumRocket white paper said, according to Newsweek.
“They can do this without ever having the file stores on their computer, meaning they can keep their porn private. Paying for adult content in crypto provides both buyers and creators with anonymity, something that other popular platforms fail to provide.”
Where Does Elon Musk Cum Into All Of This?
Elon Musk, who is no stranger to tweeting about cryptocurrencies and sending the entire industry into a spiral, took to Twitter on Friday to tweet three words: Canada, USA, Mexico.
No, he wasn’t talking about international relations, he was simply expressing himself through acrostic poetry of the cum variety. C. U. M.
— Elon Musk (@elonmusk) June 4, 2021
Granted, this tweet could be about something else, and maybe we all just need to get our minds out of the crypto gutter. But then he doubled down on the $CUMMIES tweeting with a series of emojis that translate to “cum rocket to the moon.”
???????? –> ????
— Elon Musk (@elonmusk) June 5, 2021
Following Musk’s tweet, the price skyrocketed from $US0.06739 to $US0.2834 in just a 15 minute timeframe, according to CoinMarketCap.
The official CumRocket Twitter account then tweeted Musk directly, asking to send a literal cum rocket to the moon.
— CumRocket (@CumRocketCrypto) June 5, 2021
It remains unclear if Elon Musk has even invested in $CUMMIES. Given his erratic use of the platform in the past, it wouldn’t be entirely out of the realm of possibilities for Musk to simply be tweeting about the currency for a laugh.
How Is It Looking Now?
As is the case with many crypto spikes, the $CUMMIES surge was short-lived.
According to CoinMarketCap data, the value increased by 352 per cent within a 24 hour period from a low of $US0.05482 to its all-time high of $US0.2481.
At the time of publishing, the price has bounced back to $US0.1268, with a 24 hour high of $US0.1739 and low of $US0.09414.
Just remember, crypto is very volatile
If you haven’t learned the hard way in recent weeks, cryptocurrency is extremely volatile and much like any other gamble, you shouldn’t spend anything you can’t afford to lose.
While Musk is by far the most noteworthy celebrity to jump on the crypto endorsement bandwagon, he is far from the only one.
And with so many celebrities flogging their favourite crypto on social media, even the US Securities and Exchange Commission has been forced to issue a stark warning to investors.
“It is never a good idea to make an investment decision just because someone famous says a product or service is a good investment,” the advice stated.
“Never make an investment decision based solely on a celebrity endorsement, or other information you receive through social media, investment newsletters, online advertisements, email, investment research websites, internet chat rooms, direct mail, newspapers, magazines, television, or radio.”
Similarly, Australian Financial Services Minister Jane Hume recently issued a warning for investors following the spike in crypto interest.
“They are volatile and high risk assets and investors must be aware of these risks,” she told the Stockbrokers and Financial Advisers Association Conference in Sydney in May.
I simply cannot stress this enough: do not base your financial decisions off Elon Musk’s Twitter account. Talk to a professional or at least do your own research first.