Musk, CZ Meme Exchange on X Sends GM Memecoin Soaring Past $3 Million Market Cap
Summary
- Elon Musk and Changpeng Zhao exchanged meme images on X, sending the related memecoin GM sharply higher.
- According to GMGN data, the market capitalization of GM rose above $3 million.
- GM’s gain on the day exceeded 259%.
Forecast Trend Report by Period
A memecoin tied to “GM” surged after Tesla Chief Executive Officer Elon Musk and Binance founder Changpeng Zhao, known as CZ, exchanged meme images on X, formerly Twitter.
Crypto media outlet Odaily reported on November 6 that Musk posted a meme image related to CZ in response to a user asking about conditions in the digital-asset market. The post was interpreted as a reference to the broader slump in cryptocurrencies.
CZ replied with the well-known “arrow to the knee” meme from the video game The Elder Scrolls V: Skyrim. OKX Chief Executive Officer Star Xu also joined the conversation.
As the posts gained attention, the related memecoin GM, or GREEN MORNING, also soared. Data from GMGN showed GM’s market capitalization topped $3 million, while its gain for the day exceeded 259%.
