Elon Musk Teases Bored Ape Yacht Club Community With PFP Change
Early on Wednesday morning, Twitter users noticed that Elon Musk's profile picture had changed to a collage of Bored Ape Yacht Club assets.
The collage features 101 Bored Apes, all of which were sold in a Sotheby's auction lot last summer for $24.3M.
In this instance, Musk did not celebrate the profile picture change with a tweet, but the market still reacted. As word of the change started circulating the price of ApeCoin ($APE) quickly rose from $14.56 to $17.64.
However, the fun for bullish APE speculators didn't last long. Shortly into ApeCoin's move upward, Musk wielded his power, tweeting "I dunno....seems kinda fungible," at 7:03 a.m. ET.
The tweet aligned almost perfectly with a large red candle on the ApeCoin chart, where the APE price decreased from $17.64 APE to $15.70.
This is not the first time a market has been sent into a frenzy after an Elon Musk tweet.
Notorious for his disrespect of the SEC, Musk taunted a potential investigation by tweeting "I hope they do! It would be awesome."
I hope they do! It would be awesome 🤣🤣— Elon Musk (@elonmusk) February 25, 2021
The Musk and Bored Apes connection on Wednesday morning also affected the NFT market, creating a stir in sales starting around 6:00 a.m. ET.
Since the profile picture discovery, 38 Bored Apes have been sold on OpenSea. The current floor price is 120 ETH while APE sits at $15.83.