Solana Meme Coin JIMOTHY Surges 331% After Elon Musk Raccoon Post
JIMOTHY, a Solana-based meme coin, spiked following Elon Musk's raccoon video on X.
The Solana-based meme token Jimothy The Raccoon (JIMOTHY) saw its price rise 331% on Saturday, according to data shared by BeInCrypto. The jump came shortly after Elon Musk posted a video of a raccoon to his X account, which traders linked to the token's name.
The rally is the latest example of Musk's social media activity moving cryptocurrency prices. Past posts and username changes by the Tesla CEO have repeatedly triggered volatility in meme coins and other digital assets.
JIMOTHY is one of many animal-themed tokens on Solana that have gained attention this cycle. The meme coin's market capitalization and trading volume were not immediately clear at the time of writing.
The incident highlights the outsized role that social media personalities can play in short-term crypto market movements.