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Market watchers attributed the spike to tech billionaire Elon Musk, who switched his Twitter profile name from “X” to “Kekius Maximus.” Musk also changed his profile picture to the popular Pepe-the-Frog meme, triggering a reaction from the crypto community.
The sudden change in Twitter profiles sparked a flurry of activity on social media platforms. The surprise move caught many short traders off guard, resulting in an unexpected imbalance in liquidation orders.
Source: u.today
