X Empire (XEM) Token Surges 356% to Become Most-Traded on TON After Musk-Related Discussions

This surge follows a dramatic bounce back from an all-time low of $0.000033 recorded on Nov. 3, with the token peaking at $0.000096 late Wednesday.

A new cryptocurrency, X Empire, has seen a massive surge in trading volume on The Open Network (TON), reaching a high of $316 million. This represents a 356% increase compared to the previous day's volume.

The token, which was initially launched as “Musk Empire,” allows players to engage in a tap-to-earn format while enhancing fictional attributes related to a cartoon version of Elon Musk.

As a result of this surge, X Empire has become the most-traded token on TON, second only to Toncoin (TON).

This increase in trading activity is partly being fueled by discussions around a potential government agency, the Department of Government Efficiency (D.O.G.E.), which former U.S. President Donald Trump suggested Musk could lead.

Furthermore, Musk's financial support for Trump's campaign, amounting to $130 million through his America PAC, is also highlighting the connection between the tech executive and the political landscape.

Musk has been actively participating in the campaign, appearing at rallies and sharing data on social media, claiming “record usage” of Twitter, now rebranded as X.

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