Over the weekend, Tesla founder and SpaceX chief Elon Musk changed the name on his Twitter account to “Lorde Edge,” while his location was “Trollheim”.  This prompted a flurry of speculation as to the reason for that change, something the billionaire did not provide. He currently has 62.8 million followers on Twitter.

Nevertheless, the so-called Lorde Edge coin, which was launched last Sunday, began trading on Monday and generated trading volume valued at nearly $27 million, even though Musk himself is not associated with the cryptocurrency at all.

The price reached a high of $0.00002954, representing an 825% increase from the opening price of $0.000003192 and the token has already appeared on more than 1,500 watchlists on CoinMarketCap. Lorde Edge’s price then dropped to touch lows of 0, 000002724, but has since risen 178%. Besides, an update on the website after 24-hours of the token going live, announced that Edgelon had a total of 1000 holders.

On the token’s website, which was designed in a single day, it has been mentioned that Edgelon is “the first cryptocurrency to praise the Dogefather and the CEO of the crypto sector, Elon Musk.” The developers behind the new token seem to be thoroughly accelerating its promotion across the network. A community on Telegram and a great marketing plan implemented seem to be the two weapons under which this new launch pivots. Memes, sweepstakes and NFTs are part of the plan.

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