Elon Musk Teases Bored Ape Yacht Club Community With PFP Change

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. 

Some notable market participants saw this sharp rise upwards as an opportunity to offload their APE, which has fallen from an all-time high of $26.70 prior to the recent Otherside Metaverse launch

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. 

In fact, the impact of his tweets is so notable that reports circulated last February that his tweets about Dogecoin were under investigation by the SEC.

Notorious for his disrespect of the SEC, Musk taunted a potential investigation by tweeting "I hope they do! It would be awesome." 


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. 

More about Bored Ape Yacht Club

Arguably the most successful NFT project, the Bored Ape Yacht Club (BAYC), is a collection of 10,000 uniquely generated bored apes that are stored on the Ethereum blockchain. Launched on April 23, Bored Ape Yacht Club had a mint price of 0.08 ETH and the collection sold out on April 30, 2021. Since its launch, the project has dropped multiple companion collections including Bored Ape Kennel Club, Mutant Ape Yacht Club, and Otherdeed for Otherside, and has helped onboard a number of high profile and celebrity collectors to the NFT ecosystem.

Disclaimer: The author or members of the Lucky Trader staff may own NFTs discussed in this post. Furthermore, the information contained on this website or the Lucky Trader mobile application is not intended as, and shall not be understood or construed as financial advice.
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