If you are into crypto, chances are high that you must have recently come across “Harry Bolz” – a memecoin dedicated to the newly christened name of tech mogul Elon Musk on his platform X (formerly Twitter). Elon remains at the heart of the Harry Bolz memecoin fervor that has sparked millions in trading volumes in less than 24 hours.
So, what are Harry Bolz- the new tongue-in-cheek humor attempt by Musk on social media and why did memecoins first perform astonishingly well and then plummeted as soon as Musk restored his name on his official X handle.
How Harry Bolz Memecoin Fervor Began?
It all started after the maniac billionaire Elon Musk suddenly changed his name to Harry Bōlz on February 11. All the crypto enthusiasts, specifically those interested in memecoins, were surely going to make a fuss about it and they did not miss it. Following the hype, many Elon-themed memecoins were launched with some rising over 17,000% in less than 30 minutes of their launch.
The crypto space was taken over by the storm with hundreds of memecoins trending with the similar name of Harry Bolz. As per an analysis by The Crypto Times, over 200 memecoins by the name of Harry Bolz were launched within hours of Elon Musk changing his name on X.
Here we will analyze the performance of top Harry Bolz memecoin in the past 24 hours since Musk changed his name on X and then reverted to original.
1. $HARRYBOLZ
This was one of the first memecoins to be launched as soon as Elon Musk updated his profile. It broke to the market cap of over $25 million before settling down to currently at $1 million merely.
2. HarryBōlz
This was another popular memecoin with it breaking to a market cap of over $9 million quickly while shrinking back to below $100k within hours. Following the hype, there were tens of similar named memecoins but none reached as high as this one particularly.
3. Balls
Balls was another popular memecoin emerged after Elon Musk’s social stunt. It went through a market cap of over $1.3 million before dumping to $3k where it currently sits. Looking at the chart of all these memecoins, it ensures that none of such quickly hyped cryptocurrency could sustain for long term.
Why did Elon change his name to Harry Bolz?
Elon Musk is better known as being a “meme connoisseur” on the internet, and his image – specifically on X – is more of a sarcastic and humorous person. While it’s not any intentional move, him changing name to Harry Bolz could not be reflecting any purpose but merely a laughing stock.
This is not the first time Elon Musk has inspired the internet to dig and grab onto “harry bolz” as he has history of indulging in such gimmicks in the past as well. In December last year, he also did something similar with changing his name to Kekius Maximus, which made skyrocketing candles in Kekius-themed memecoins at the time.
Once in a while, the crypto community is buzzed with such happenings and these short-lived events leave a notable mark in the history of the crypto industry.
