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The Asteroid Shiba (ASTEROID) cryptocurrency surged more than 920% after Elon Musk said he would designate a Shiba Inu plush toy as SpaceX’s official mascot. The rally was driven by a social-media story that quickly went viral, translating Musk’s brief responses into a rapid repricing of the token.
The cryptocurrency is named after a stuffed Shiba Inu created by Liv Perrotto, a 15-year-old who died after a five-year battle with cancer. Her plush, called Asteroid, was used as a zero-gravity indicator aboard SpaceX’s Polaris Dawn expedition in September 2024.
In her final days, Perrotto asked Musk: “Can you make Asteroid the mascot for SpaceX?” The story resurfaced on social platforms this week, prompting Musk to respond initially with “Will answer shortly.”
Following Musk’s initial reply, ASTEROID’s market capitalization rose from about $50,000 to beyond $20 million within hours. Musk later followed up with a single word: “Ok.”
Over a seven-day period, ASTEROID increased by approximately 68,000%, according to CoinGecko statistics. During peak activity, daily trading volume reached $100 million.
Blockchain analytics cited by Lookonchain described multiple high-impact trades tied to the announcement. One trader reportedly converted roughly $1,800 in ETH into approximately $500,000 within hours after Musk’s post.
Lookonchain also referenced a wallet that held ASTEROID for 580 days at essentially zero value, later seeing its balance rise from around $21,000 to roughly $392,000.
Another example highlighted by Lookonchain involved trader 0x5811, who reportedly spent $542 to buy 7.43B ASTEROID 80 days ago. The wallet liquidated its full holdings for $405 about 24 hours before ASTEROID pumped, resulting in a $137 loss; the same 7.43B ASTEROID are described as worth over $2.6 million today.
According to the article, ASTEROID operates without an established development team, published roadmap, or functional product. It also has no verified official association with SpaceX beyond two casual social media responses from Musk.
At its peak, the token’s market capitalization surpassed $100 million.
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