Grapevine Tweets: Cryptocurrency traders are once again using Elon Musk's love of monosyllabic tweets as an excuse to launch another unknown token.

Everyone knows about grapes

The cryptocurrency community is in turmoil once again. Early Sunday morning, Jan. 16, billionaire and Tesla CEO Elon Musk tweeted an image of grapes from Wikipedia with the caption "Everyone knows what grapes are.

"Very informative," Musk wrote in the review.

Reviewers on Twitter immediately launched a contest to find the smartest way to interpret the message.

User @WokePC reviews.

"Maybe the next generation of Teslas will use grape fuel. I'm going to open a vineyard right away."

But others have linked Elon Musk's message to the GRAPE token.

"Oh my god, it's grape money, go guys, go," wrote someone with the nickname @fine_mesh.

Judging by the dynamics of the tokens, many people followed his advice.

A single tweet containing just two words and a picture of a fruit was enough to double the price of $GRAPE tokens in a matter of minutes.

GRAPE opened at $0.047 on January 16. However, four hours after Elon Musk's tweet, they had already paid $0.078 for it. As expected, the surge didn't last long. At the time of writing, GRAPE was trading at $0.06. During the day, the token fell 5%, but on a weekly basis, it is still trading with a 13% gain. After hitting an all-time high of $0.347 on September 15, 2021, the token has since shrunk in value by 82%.

It's happened before and it's happening again

Elon Musk is known for his monosyllabic tweets. The cryptocurrency trading community always interprets these tweets as support for one or the other coin. Last week, the DOJO token rose 500%

Just half an hour, as Musk tweeted the word.

Despite the volatility, the token is still 155% more expensive than it was a week ago.

In October 2021, Musk crashed the Shiba Inu token by 26% in a tweet. Experts believe that the market's reaction to the tweet illustrates the immaturity of the market.

What is Grape

GRAPE is a token based on Solana's Grape protocol. It provides users with a set of tools for building communities in the Solana ecosystem.

The developers of the project claim that you can use Grape to create any online community and organize it in your own way. One of the tools – GRAPE Access – binds social network accounts to a unique cryptocurrency key and issues permissions and access rights based on the number of coins in the user's balance.

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