Sotheby's is about to auction an abstract artwork called Comedian, created by Italian artist Maurizio Cattelan, which features a banana taped to a wall with packing tape.
In mid-October, Sotheby's Vice President Michael Bouhanna even created a meme coin $BAN based on this, which immediately attracted funds from the cryptocurrency circle. Within 18 hours, the market value quickly soared to US$50 million and continued to rise thereafter.
Musk retweets banana photo
And just this morning, "Dogecoin Godfather" Musk reposted a photo on X of John Kraus, content director of Polaris (a private space exploration program supported by SpaceX), standing in front of a SpaceX starship holding a giant banana. This quickly aroused a quick response from people in the currency circle, and many comments tagged $BANANA and $BAN, and the prices of the two tokens immediately rose.
Banana-related tokens surge
Dexscreener data shows that within one hour after Musk retweeted it, $BAN soared from about $0.2 to $0.2508, an increase of 25.4%, approaching the historical high of $0.292 set on the 14th. At the time of writing, it was temporarily reported at $0.2236, a surge of more than 40% in the past 24 hours, with a market value of $218 million.
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$BAN Price Chart
In addition, the banana-named token $BANANA may also rise due to this. This token is the native token of the sniper robot Banana Gun. Since Musk forwarded it, the price has risen rapidly, and it was reported at $59.52 before the deadline, an increase of 8.3% in 24 hours.
Beware of the risk of a sharp drop in Comedian stock after the auction
However, it should be noted that (Comedian) will be auctioned at Sotheby's in New York on November 20, and one needs to be wary of the risk of a sharp drop after the auction. If there is no new narrative support in the future, it may end up with a "good news turns into bad news" outcome.
Just as Trump was confirmed as the president-elect, his largest meme coin $TRUMP began to fall all the way, with its market value falling from $210 million on the day of his victory to about $70 million now, evaporating more than 66%.
$PNUT surged more than 4 times in one day
In addition to being known as the "Godfather of Dogecoin", Musk is also about to lead the "Department of Government Efficiency" (DOGE for short), which may bring more exposure to Dogecoin. Before the election, he used the euthanasia of the squirrel "Peanut" to criticize the Democratic Party and posted a message to mourn Peanut, claiming that Trump's presidency will save more lives like Peanut. This "Peanut incident" gradually evolved into a campaign to denounce the Democratic Party, and the related token $PNUT has also received high attention from the market.
On the 13th, Musk responded to netizens' doubts about the necessity of the "Ministry of Government Efficiency" by saying: "America was saved by a squirrel and meme coins." This remark pushed the market value of $PNUT from about $500 million to $2.27 billion in one day, an increase of more than 4 times.
At the time of writing, the market value is still US$1.745 billion, and the currency price is currently US$1.74, up 11.3% in the past 24 hours.
