Elon Musk's Laser-Eyes Boosts $DMAGA Meme Coin by 15,548%

Tesla CEO Elon Musk recently updated his X (formerly Twitter) avatar, which has attracted great interest from the cryptocurrency community. His new avatar features a blue “laser eye” on a dark red background with an American flag, a meme associated with bullish Bitcoin sentiment. The update coincides with a sharp surge in the value of the $DMAGA meme coin.

In response, the well-known Chinese crypto KOL “0xSun” posted this morning that Musk’s big avatar is the main reason behind the surge in the Solana ecosystem meme coin $DMAGA today.

0xSun explained that Musk’s latest avatar was made for him by @DarkMagaCoin community members. Musk just chose this picture as his avatar from the comments section today, saying it was a “dream come true.”

At the same time, 0xSun expressed his regret for missing out on the golden investment opportunity of $DMAGA due to illness, and analyzed his bullishness on this meme coin.

0xSun believes that the narrative of $DMAGA is comparable to $Fight and $Miggles. The most important thing is that $DMAGA's narrative has a directly related token, which is better than the latter two. Because $DMAGA's token is strongly associated with the event, while other meme coins need to go through the event mapping process to be associated with the token.

The fermentation process of Musk's profile picture change event was relatively slow. From 3:30 to 5:30 in the morning, the price was sideways around 5M in two hours. It was not until another important community member @koreanjewcrypto posted an article explaining the ins and outs of the incident that the price began to gradually rise. In fact, there were plenty of opportunities to get on the bus during this period. If I was awake, I could make at least $100,000, but unfortunately there is no if.

$DMAGA surges 155 times

As part of the Solana ecosystem, the price of $DMAGA coin surged by more than 15,500% after Musk changed his profile picture. It surged from a low of $0.0005325 to a high of $0.08333, and the current price is about $0.06979. The trading volume has exceeded $42.5 million, and the increase in 24 hours has reached 10,058%, making it one of the largest increase in the emoji coin field.

Source: Dexscreener

The founder of Messari also changed his profile picture to one with blue laser eyes

0xSun predicts that Musk's new profile picture with blue laser eyes will continue to attract attention, and the future of $DMAGA is worth paying attention to.

From an emotional perspective, as the world's richest man who is closely related to the cryptocurrency circle, Musk's change of his profile picture with laser eyes coincides with the recent strong rebound of the market, which is very exciting. In addition, the American flag and the main red color in this profile picture also coincide with the hot events of the recent US election, expressing Musk's support for Trump. Therefore, this is likely to become a striking news.

From the perspective of communication, many big Vs have changed similar photos with red tones + blue laser eyes, including Messari founder Ryan Selkis (@twobitidiot), traders @Bluntz_Capital, @wsbmod, @wallstreetbets, etc. This will inevitably become a topic for a period of time.

However, 0xSun also reminded that due to the surge in $DMAGA in a short period of time, the risk of holding positions in the early stage is extremely high, and the profit plate is also very large. Therefore, the heights that $DMAGA can reach largely depend on the pattern of early holders and project parties.

0xSun said, "From a narrative perspective, I think this is close to perfect. I currently only hold a few tens of thousands of dollars in $DMAGA, which is far from enough, but this narrative is so attractive that I couldn't help but introduce it on Twitter."

Wider impact and market trends

The excitement surrounding Musk’s new avatar and $DMAGA tokens reflects broader market trends, including a strong rally in the cryptocurrency space. The American flag theme and red hue, combined with Musk’s well-known support for Trump, resonated with many, boosting the token’s appeal. However, some caution that such rapid gains come with volatility, with early investors pocketing significant profits.