The native token of blockchain project Cult DAO, CULT, surged over 70% shortly after a mysterious tweet from Elon Musk containing the same name. Musk's previous comments have caused price swings in digital assets such as Dogecoin and Floki Inu. Despite not revealing what he meant by the tweet, CULT's price spiked in a matter of hours.

Musk has previously influenced the crypto market, particularly with his favorite memecoin Dogecoin and Floki Inu. DOGE's valuation has increased multiple times following announcements by Musk, and FLOKI saw a surge in price after Musk uploaded a sarcastic photo on Twitter in February depicting his dog as the new boss of the social media giant.