Mubarak Memecoin Shakes Up Cryptocurrency Market

The memecoin called Mubarak has been making waves in the cryptocurrency market since its launch.

Investors are more interested in Mubarak due to its connection with former Binance CEO Changpeng Zhao (CZ), while a recent move from CZ pumped the token’s price.

CZ changed his X account profile photo to an image of himself wearing Emirati attire, reminiscent of the Mubarak token. Following this change, Mubarak experienced a nearly 30% increase in price.

However, this rise was short-lived. The sudden increase was followed by a sharp drop and the token gave back all of its gains.

Such profile changes made by significant figures in the cryptocurrency industry, such as CZ, have impacted the prices of various cryptocurrencies. In a similar vein, Elon Musk also changed his profile to Kekius Maximus, causing a significant price pump.

As you may recall, CZ purchased one BNB each from two memecoins named Mubarak and Test (TST) via DEX.

> This is not investment advice.