Why Mask Network (MASK) Price Surge 65% in Just 24 Hours

The price of Mask Network's (MASK) token has surged by 65% over the past 24 hours, drawing significant attention from the crypto community. Let's dive into the reasons behind this dramatic price pump!

As the crypto market kicked off November with minimal volatility—Bitcoin hovering around the $20,000 mark and most coins stuck in a boring sideways trend—a few tokens stood out with remarkable gains. One notable example is Dogecoin (DOGE), which reached its highest point since the LUNA crash, thanks to the influence of "daddy" Elon Musk.

However, the "Elon Musk effect" hasn’t only boosted DOGE and other meme coins; it’s also impacted another project—Mask Network (MASK).

On Binance, MASK experienced a 65% increase in just 24 hours. The token’s price peaked at $4.40, up from around $2.40 just a day earlier.

MASK Price Chart: 1H on Binance as of 12:00 PM on 02/11/2022

So, why did MASK pump? And does it have anything to do with Elon Musk?

Twitter for Web3

A glance at Mask Network’s Twitter reveals no major updates or developments scheduled for release.

However, Mask Network is essentially a Web3 version of a social media platform, comparable to Twitter but with enhanced features. The project has even posted a comparison to Twitter, hinting at its superior capabilities.

One part of the FOMO around MASK comes from the community’s expectation to find "gems" in the Web3 social media space following Elon Musk’s acquisition of Twitter.

Mask = Musk

Yet, that alone doesn’t explain the 65% surge. Especially considering other projects with similar goals as Mask Network.

Here’s a more humorous reason:

When you search for "MASK" on Twitter, most of the results are related to Elon Musk. Twitter’s search algorithm seems to interpret "MASK" as a typo for "Musk," and it "helpfully" corrects the search!

Search "Mask" and Get Musk

As you can imagine, the crypto community is prone to FOMO. Seeing Musk-related results when searching for MASK might have led some to believe there's a connection between the token and Musk, driving the price up!

Binance’s Sorcery

Timing, market sentiment, and Binance’s strategic moves have played a significant role. Binance recently launched the BlueBird Index, which includes BNB, DOGE, and MASK.

Binance Launches Leveraged Futures x25 for BLUEBIRD

The BlueBird Index, symbolically named after Twitter’s blue bird, suggests Binance aims to capitalize on the hype surrounding Elon Musk and Twitter to boost trading volume. Including DOGE in the index makes sense given its recent surge.

But why BNB and MASK?

Adding MASK alongside Binance’s favored BNB to a Twitter-related index indicates Binance’s high expectations for Mask Network. Binance has a track record of setting trends, and any perceived favoritism towards a project often leads to increased FOMO buying.

Additionally, FTX has also joined the fray, announcing the listing of MASK.

Given all these factors, it’s no surprise that MASK’s price has surged!