A seemingly innocuous post by X owner Elon Musk appears to have helped drive the price of a little-known non-playable coin (NPC) up more than 32%.
On July 20, Musk posted a video on his X handle featuring popular reporter and influencer Mario Naupal. In the video, Naupal engages in a discussion about NPCs, exploring how they differ from other meme coins.
NPC Analysis
The impact was huge. Since the post, NPC’s price has soared by 32.1% as of this writing. The market cap has soared to an impressive $195 million in a matter of hours.
This push also means that NPC has been rising over several other time frames. For example, the current NPC price is up a whopping 67% over the past 7 days and up 21% over the past 2 weeks. However, it is still nearly 20% below its all-time high of $0.03003 recorded on June 23.
Today’s performance means that NPC is now significantly outperforming the global cryptocurrency market, which is up 11% according to CoinGecko.
Moreover, it is outperforming similar cryptocurrencies on the Ethereum network, with other cryptocurrencies on the network recording an overall improvement of around 12%.
NPC Tokens are NFT-meme hybrids inspired by non-playable character memes. They can be traded as non-fungible tokens or meme coins, and each NPC Token is backed by an NFT of the NPC meme.
The coin is available on Ethereum via Uniswap and on Base, Coinbase’s layer 2 network. The total supply is 8,050,126,520 NPC tokens, all of which were in circulation at launch.
Along with the price increase, the coin’s 24-hour trading volume also surged, rising 55% to $7,464,829.