• Elon Musk changed his X name to Harry Bōlz, triggering a surge in Solana meme coins, with one trader turning $156 into $52,000.
  • A Harry Bolz (HARRYBOLZ) token jumped 54,637% in one hour, reaching a $25.14 million market cap before dropping to $8.5 million.

Elon Musk changed his account name on X (formerly Twitter) to Harry Bōlz on Tuesday, setting off a frenzy in the Solana meme coin market. The name change caused two meme coins of the same name to skyrocket, with one trader turning a $156 investment into $52,000.

Musk, who also leads the Department of Government Efficiency (DOGE), a new U.S. government agency focused on reducing spending, has previously used the Harry Bōlz name. In April 2023, he changed his X name to the same moniker, stating that he wanted media outlets to refer to him by it.

Many believe this latest change is in solidarity with Edward Coristine, a Musk associate commonly known as "Big Balls." Coristine, a former Neuralink employee, currently holds positions at the State Department, the Department of Homeland Security, and DOGE.

However, his past includes controversy—Bloomberg reported that the 19-year-old was previously dismissed from an internship for leaking internal information to competitors. Given his access to sensitive data, one unnamed U.S. official told The Washington Post that Coristine’s government appointment is "dangerous."

Following Musk’s name change, two Solana-based meme coins saw dramatic surges. One of them, Harry Bōlz (HARRYBOLZ), had already been live since February 7, anticipating a potential Musk name shift. The token soared 54,637% within an hour, climbing from a $45,900 market cap to $25.14 million before settling at $8.5 million. A trader who bought $1,900 worth of the token at launch saw a profit of $343,800.

A second token, also named Harry Bōz (HARRYBOLZ), reached a nearly $3 million market cap. The top trader in this token profited $6,179 from a $14,400 investment.

This isn’t the first time Musk’s name changes have fueled meme coin surges. In January, his brief adoption of "Kekius Maximus" led to an Ethereum-based token of the same name soaring over 3,000% before crashing 83% when Musk reverted his name.

Edited by Harshajit Sarmah