Meme Coin ASTEROID Sees Unprecedented Price Surge Amid SpaceX Speculation

A meme coin called ASTEROID has seen an unprecedented price surge in recent days, with its value increasing by over 45,000% in just 24 hours. The rapid rise is attributed to speculation about the token's connection to SpaceX's Polaris Dawn mission, which featured a plush Shiba Inu named Asteroid as a zero-gravity indicator.

Elon Musk's response to a viral post about the story sparked widespread interest and trading in the token. According to blockchain analytics firm Arkham, several traders have profited significantly from the move, including one who swapped 1 ETH into an ASTEROID token position now worth nearly $474,000 within three hours.

However, experts warn of a potential sell-off risk due to the concentration of gains among a small number of wallets. If early holders begin taking profit, the thin liquidity typical of low-cap meme tokens could amplify any downturn.