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Elon Musk, a seasoned provocateur of price movements in the cryptocurrency market, has once again raised eyebrows with a mysterious tweet that may have triggered a remarkable 70% surge in the relatively obscure altcoin, Cult DAO (CULT).

This isnt the first time weve seen the Twitter CEOs influence on the crypto world, as hes been known to stir up price movements with his tweets on Dogecoin and other meme coins.

Its no secret that when Musk speaks, the market listens and in the case of Cult DAO, its clear that his words can still figuratively move mountains in the world of cryptocurrency.

Elon Musk has yet again caused a stir in the cryptocurrency world with just a two-word tweet. On Tuesday, he tweeted Cult/Culture, sending the community members into a frenzy of speculation about whether he was referring to Cult DAO.

Within just one hour of the tweet, the price of CULT spiked by over 70%, demonstrating Musks power to move the market with his social media presence.

For those unfamiliar with the altcoin, Cult DAO is a community-driven decentralized autonomous organization that is committed to supporting forward-thinking creators and innovators in the crypto world.

The organizations primary focus is on providing funding, resources, and infrastructure to blockchain-based projects that are challenging the status quo and advancing the decentralized revolution.

Cult DAO is essentially a platform that enables like-minded individuals to come together and collaborate on projects that align with their shared values and goals.

While still a relatively unknown player in the cryptocurrency market, CULTs recent price surge following Musks tweet has certainly put it in the spotlight and piqued the interest of traders and investors alike.

At the time of writing, CULT is trading at $0.00005917 at CoinMarketCap, marking an impressive 42% increase in value over the past 24 hours and a 22% increase in the last seven days.

Musks influence on the crypto market is undeniable. The Twitter CEO has a long history of commenting about various cryptocurrencies, from Bitcoin to Dogecoin and others.

His tweets have often caused significant fluctuations in the value of these digital assets, as investors and enthusiasts alike scramble to buy or sell in response to the billionaires pronouncements.

The impact of his tweets on the crypto market remains significant, as evidenced by the recent surge in CULTs price following his cryptic message.

As Cult DAO continues to gain momentum and attract attention in the crypto world, it remains to be seen what the future holds for this innovative platform.

-Featured image from Ninja News

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Elon Musk Latest Tweet Pushes This Altcoin's Price To Soar 70% - Details - Bitcoinist