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crypto.news 2025-02-12 10:51:57

Harry Bolz-inspired meme coins plunge as Elon Musk changes his profile name on X

Multiple HARRYBOLZ tokens, which surged after Elon Musk briefly changed his profile name to Harry Bolz, are plummeting in value now that he has reverted to his original name. Meme coins HARRYBOLZ that surged after Elon Musk briefly changed his profile name on X to Harry Bolz are now crashing as the American billionaire has reverted to his original name. Per data from DEX Screener, some of these tokens have lost over 50%, while others have lost over 80%. The sudden losses follow a sharp rally when Musk made the name change. One of the Harry Bolz (HARRYBOLZ) tokens, which had been live since Feb. 7, skyrocketed over 50,000% in just one hour on Tuesday, though it has since fallen significantly. Meme coin listed on DEX Screener | Source: DEX Screener You might also like: Elon Musk’s tweet incites Doge and Floki rally Musk’s name change on X originally triggered a frenzy in Solana meme coins. Traders rushed to buy anything linked to “Harry Bolz,” hoping to profit from the moment. A few did. For example, one trader turned a $156 investment into $52,000. Another made over $340,000. But as usual, most late buyers were left holding losses. The HARRYBOLZ tokens were part of a wider trend where Musk’s online activity moves markets. Similar spikes have happened with Dogecoin ( DOGE ), FLOKI ( FLOKI ), and other meme coins before. The cycle is nothing new: Musk posts something, traders rush in, prices soar, and then reality sets in. Now that Musk has changed his name back, interest in the tokens is drying up. Many are down heavily, while some have been completely wiped out. Read more: Kekius Maximus falls as Elon Musk swaps X avi