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NPC Token Gains 32% After Elon Musk Post
A seemingly innocuous post by X owner Elon Musk appears to have helped boost the price of the little-known non-playable currency (NPC) by more than 32%.
On July 20th, Moss posted a video of popular reporter and influencer Mario Nawfal on his handle X. In the video, Nawfal engages in a discussion about NPC, exploring how it differs from other meme coins.
NPC Analysis
The impact has been immense. Since that post went live, NPC’s price has skyrocketed 32.1% as of this writing. Its market cap has risen to an impressive $195 million in a matter of hours.
The push also meant that NPC has gained in several other time frames. For example, the current price of NPC is a whopping 67% improvement in seven days and a 21% increase in two weeks. However, it is still nearly 20% below its all-time high price of $0.03003, which was recorded on June 23.
Today’s performance also means that NPC is now significantly outpacing the global cryptocurrency market, which grew by 11% according to CoinGecko.
It is also outperforming similar cryptocurrencies on the Ethereum network, which have seen an overall improvement of around 12%.
The NPC token is an NFT-meme hybrid inspired by the non-playable character meme. It can be traded as a non-fungible token or as a meme coinwith each NPC token backed by an NFT of the NPC meme.
The coin is available on Ethereum via Uniswap and on Coinbase’s layer-2 network, Base. It has a total supply of 8,050,126,520 NPC tokens, all of which are in circulation at launch.
The price increase was accompanied by a similar jump in the coin’s 24-hour trading volume, which increased by 55% to $7,464,829.