For those who are eager to get their hands on the Manchester United Fan Token (MUFC) thinking its value is to go skyrocket, it is not the case at all.
The trading price of the MUFC recently experienced a great surge despite the token being labeled ‘dead coin’. This is because the Manchester United Fan Token has no link or connection with the actual Manchester United Club.
Therefore, it is important that the investors must not interact with the tokens at all and remain cautious. It is a reminder for the MUFC investors that the token is not linked with the MANU sports club at all.
The reason behind the Intimation
The reason behind the intimation is because the fans of Manchester United and Elon Musk’s followers have started investing in MUFC.
The reason behind the investments is because of the Tweet recently made by Elon Musk. On August 17, Elon Musk tweeted that he had purchased Manchester United.
As a result of Musk’s tweet, the trading price of MUFC grew tremendously. The price of the token kept rising until Elon Musk made another tweet confirming that it was just an old joke.
MUFC Trading Price Skyrocketed
Just as Elon Musk tweeted about acquiring Manchester United, the trading price of the token skyrocketed.
According to the developers of MUFC, anyone who purchased the token would have a buye influence on the actual Manchester United club.
However, it was just a false claim by the token developers as they wanted more investors to join the protocol. Turns out, Elon Musk was following the same joke when he tweet he had purchased Manchester United.
MUFC’s November 2021 Airdrop
In November 2021, an airdrop was conducted by the developers of the MUFC. In the particular airdrop round, 10,000,000,000 MUFC were given out to the participants.
The team had announced that the 10,000 users would be given the said number of tokens during the airdrop.
Just as the developers made a false claim, the trading price of the token went up to $1 at one point.
The Project Proved to be Dud
Although many investors participated in the airdrop and invested money into the project, it soon turned out to be nothing more than vaporware.
As a result, the trading price of MUFC ended up losing 100% of its value in the month of November.
The Tweet Helped MANU Club
Although Elon Musk later confirmed that he was just joking, still, it helped the actual Manchester United club grow in the stock market.
According to the latest stock market data, the share prices for Manchester United have soared 1.97% in the latest stock trading session.
MANU Token’s 3000% Surge
Right after Elon Musk’s tweet, the trading price of MUFC surged more than 3000%. The rally also pushed the trading volume of MUFC all the way up to $39,000.