The memecoin called Mubarak has been making waves in the cryptocurrency market since its launch.
Investors are more interested in Mubarak due to his connection with former Binance CEO Changpeng Zhao, while a move from CZ pumped the price.
Accordingly, CZ changed his X account profile photo to a photo 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 in the Mubarak price was followed by a sudden drop and the token gave back all of its gains.
Such profile changes made by important names in the cryptocurrency industry such as CZ have affected the prices of various cryptocurrencies. At this point, Elon Musk also changed his profile to Kekius Maximus, causing the price to experience a big 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.
