Manchester United’s fake cryptocurrency token has grown by 3000% after Elon Musk’s tweet

Tesla and Space X CEO Elon Musk’s joking tweet about plans to buy Manchester United football club led to a rapid growth of digital assets related to the club. Thus, MANU shares grew by almost 2%, and the market value of the official blockchain partner of the FC Tezos (XTZ) increased to $ 135.85 million. Manchester United’s official token CITY also grew in value, rising by 14%. However, the largest growth occurred with the MUFC token, which rose by more than 3000% and turned out to be fake — the project’s liquidity is minimal, as is the number of traders trading the token.

At the time of writing, it is not known how many real users have invested in MUFC, but the token’s value has already dropped by 50%. Obviously, Elon Musk managed to demonstrate his power of influence on the cryptocurrency community once again.

This is not the only case when digital assets have grown after the Tesla CEO’s tweet. In early August, Elon Musk’s favorite cryptocurrency, Dogecoin, grew by 4% thanks to a single phrase of the billionaire, regarding the love of his son X AE A-XII (the name of Musk’s descendant) for DOGE. «X loves DOGE» was enough for users to increase their investments in the meme cryptocurrency.