Quick Stats
- Elon Musk’s X profile name change has triggered a massive memecoin speculation, with with many “Harry Bōlz” token created
- The Solana-based HARRYBOLZ token surged to a $25 million market cap before crashing 97% to $800,000, generating $100 million in 24-hour trading volume on DEX Screener.
- A separate Solana-based HarryBolz token peaked at $8.4 million before collapsing over 99% to $75,000 in market cap.
Elon Musk’s latest X profile name change to “Harry Bōlz” sent the memecoin frenzy into overdrive on Tuesday. Just hours after the change, tokens using the name surged and collapsed across Solana, and BNB Chain, with speculators scrambling to ride the wave.
Musk’s name change to “Harry Bōlz” is actually a nod of support to Edward Coristine, also known as “big balls”—a figure tied to Musk’s expanding influence in the U.S. government.
Coristine has recently taken up roles within the Department of Government Efficiency (DOGE)—a Musk-backed federal cost-cutting initiative—and was appointed as a senior adviser in the U.S. State Department’s Bureau of Diplomatic Technology. His growing presence across multiple government departments has sparked concerns over potential national security implications, particularly given his lack of experience and past history of leaking information.
According to a report from The Washington Post, Coristine was previously dismissed from a high-level position over an information breach, yet now finds himself influencing key federal operations. He even had a brief tenure at Musk’s Neuralink, the billionaire’s controversial brain-chip startup.
The “Harry Bōlz” Token Mania
Musk’s latest X profile name update to “Harry Bōlz” triggered a memecoin gold rush, with traders piling into tokens inspired by the new alias.
One Solana-based HARRYBOLZ token, which had already existed since February 7, saw its price skyrocket to $0.025, pushing its market cap to approximately $25 million after Musk’s name change. However, the rally was short-lived—the token collapsed by 97% to $0.0008, with its market cap sinking to just $800,000. Despite the wipeout, 24-hour trading volume still hit nearly $100 million, according to DEX Screener.
Another HarryBolz token—launched in direct response to Musk’s profile change—briefly spiked to an $8.4 million market cap before plunging over 99%, settling at a mere $75,000. While most traders suffered major losses, the top trader of this token managed to walk away with a modest $10,000 profit.
As expected, countless other copycat tokens flooded the Solana network, each mirroring the same boom-and-bust cycle. The “Harry Bōlz” craze ultimately proved to be another classic case of memecoin mania, fueled by speculation, driven by hype, and ending in massive losses for most.
The Musk Factor in Crypto Markets
Elon Musk’s X profile changes have repeatedly triggered wild speculative frenzies in the crypto market, with traders rushing to capitalize on his latest alias. But as history has shown, these surges are often short-lived and brutally volatile.
On New Year’s Eve, Musk briefly changed his profile name to “Kekius Maximus”, a reference to Maximus Decimus Meridius, from Gladiator (2000). This minor change was enough to ignite a memecoin rally—the Kekius Maximus token soared over 30x, jumping from a $12 million market cap to an eye-watering $380 million peak. However, as expected, the hype died fast—the coin plummeted over 75% after Musk reverted to his real name, wiping out millions in speculative value.
