Find out why the price of Mask Network (MASK) increased 65% in just 1 day

Mask Network's MASK price is up 65% within the last 24 hours and is receiving great attention in the community. Let's find out with FoxCryptoNews the reason behind this pump!

The crypto market started November with little volatility, as the BTC price hovered around the $20,000 mark. The majority of coins fell into the boring sideways zone, with only a few coins with outstanding price increases. For example, Dogecoin (DOGE) set its highest peak since the LUNA crash thanks to "daddy" Elon Musk.

However, the "Elon Musk effect" not only helps push the price of DOGE or junk coins to take advantage of "following" but also affects another project. That is the Mask Network with the token MASK.

On Binance, MASK is up 65% in the past 24 hours. This token price once reached a peak of $ 4.4 while just a day ago was hovering at $ 2.4.

So why the MASK pump? And what does it have to do with Elon Musk?

Twitter of web3

Take a look at the project Twitter, currently Mask Network has no impressive updates or developments to be announced.

But the project itself is about the web3 social network. Mask Network can be viewed as a "Twitter for web3" with more outstanding features. The project also posted a post comparing itself to Twitter as follows:

It can be seen that part of the FOMO for MASK comes from Elon Musk's acquisition of Twitter - when the community expects to find "gem" projects in the direction of the web3 social network.

Mask = Musk

However, that alone is not enough for the token to have such a 65% pump. Especially when there are many other projects that do the same as Mask.

Here comes a more “funny” reason.

When you search for MASK in Twitter's search box, most of the posts that come up are related to Elon Musk. (?!)

Turns out Twitter's search engine thought you wanted to search for "Musk" and mistyped it as "Mask", so it "smart" corrected you!

As you know, the community is easy to FOMO. Just searching for Musk like this can turn the fomo leaders into "Musk-related Masks" or something…. That's the coin pump!

Binance Wizard

“Heaven, favorable conditions, harmony” is coming to MASK as Binance has just announced the launch of the BlueBird Index consisting of BNB, DOGE and MASK.

BlueBird means "blue bird", the iconic image of Twitter. It can be understood that this Indexing action is that Binance wants to take advantage of the community hype with Elon Musk and Twitter to "pull" more trading volume. So having DOGE in the index is understandable.

Like why BNB and MASK?

Adding MASK along with BNB to a Twitter-related Index or more broadly social media shows that Binance has high expectations for the Mask Network project. (Of course, Binance has high expectations for BNB.)

If you have been in the market long enough, you must understand how “Binance is a trend maker”. The fact that people realize that this exchange is "seeming favor" with a certain project, of course, FOMO will quickly buy in.

In addition, FTX is not out of the game when it has just announced the listing of MASK.

With all of the above reasons, it's strange that MASK's price does not pump!

Nov 02, 2022