Elon Musk Sparks Meme Token Frenzy with Name Change to Harry Bōlz on X

On February 11, Elon Musk changed his name on his X profile to Harry Bōlz, igniting a frenzy around meme coins of the same name. The assets saw rapid price increases followed by equally swift declines.

Most of the coins emerged within the last 24 hours, exhibiting the typical Pump & Dump pattern.

The token HARRYBOLZ on Solana, launched on February 7, followed a similar trajectory. Its price surged from $0.00006 to $0.025 after Musk’s name change on X. However, when the entrepreneur reverted to his real name, the price plummeted by ~94% to $0.0008. At its peak, the meme coin’s market capitalization reached $25 million, with trading volume nearing $44 million (DEX Screener).

Experts at Lookonchain noted that a wallet labeled as LeBron spent 25 SOL ($4900) to purchase 28.8 million HARRYBOLZ on the day of its launch. On February 11, the user sold 109.9 million tokens for 3649 SOL ($737,000). Considering the remaining coins valued at ~$277,000, the profit amounted to about $1 million.

After @elonmusk changed his profile name to Harry Bōlz, the price of $HARRYBOLZ surged to $0.025.

Wallet “LeBron,” who made $8.9M on $MELANIA and $3.2M on $TRUMP, spent 25 $SOL($4,807) to buy 128.8M $HARRYBOLZ 4 days ago.

He then sold 109.8M $HARRYBOLZ for 3,649 $SOL($737K),… pic.twitter.com/oqmc7ihhAp

— Lookonchain (@lookonchain) February 11, 2025

Previously, this address also earned $8.9 million on MELANIA and $3.2 million on TRUMP, analysts noted.

Musk had changed his profile name to Harry Bōlz in April 2023. The entrepreneur did not explain his motives. It is speculated that the name refers to the expression hairy balls.

In December 2024, Musk briefly renamed his X account Kekius Maximus, adding a profile picture of Pepe the Frog in gladiator attire. The name combined the slang term kek (associated with humor and absurdity) and the name of Roman general Maximus Decimus Meridius from Ridley Scott’s film “Gladiator.”

Meme tokens became one of the most profitable narratives in the crypto industry in 2024, according to CoinGecko. Amidst this trend, journalists identified the “most absurd” coins in the segment.