Elon Musk’s recent name change on X to Harry Bōlz has sent shockwaves through the crypto world, causing two Solana-based meme coins of the same name to explode in value. This latest move from Musk, who leads the Department of Government Efficiency (DOGE) and is the CEO of Tesla and SpaceX, follows his ongoing support for Edward Coristine, also known as “Big Balls,” a key figure in Musk’s ventures.

On Tuesday, Musk changed his X name to Harry Bōlz, sparking an immediate reaction in the market. This is not Musk’s first time adopting the name; he previously used it in 2023 to generate media attention. This time, many speculate that the name change is a show of support for Coristine, who has faced controversy regarding his government positions after a previous incident involving leaking internal information.

The shift in Musk’s name caused the price of two Harry Bōlz (HARRYBOLZ) tokens to skyrocket. One token, which had been live since February 7, surged 54,637%, jumping from a market cap of $45,900 to $25.14 million in just one hour. Despite its subsequent drop to $8.5 million, the lucky traders who held the token saw enormous profits, with one turning a $156 investment into $52,000.

This isn’t the first time Musk’s name changes have led to such volatility in the meme coin market. A similar event in January saw the Kekius Maximus (KEKIUS) token soar 3,000% before crashing back down. Musk’s influence on meme coins is undeniable, sparking both excitement and concern in the cryptocurrency community.

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