08.09.2025 00:09

Here's a rewritten version of the news article, incorporating all key details and employing varied sentence structures, without any references to BitcoinEthereumNews.com and using "internet sources" instead:

**PHNIX Meme Coin Soars Following Ripple CTO's Profile Picture Change**

A wave of bullish sentiment has engulfed the PHNIX token, a digital asset hosted on the XRP Ledger platform, alongside its associated NFT, experiencing a substantial price surge, nearing 40% in value. This impressive rally was directly catalyzed by a conspicuous shift in the profile picture of Ripple's Chief Technology Officer (CTO), who opted to feature a PHNIX NFT on his social media profile.

This strategic move immediately ignited a flurry of trading activity, drawing striking parallels to the well-documented influence of figures like Elon Musk in the volatile world of meme coins. The collective response among traders was nothing short of frenzied, reminding market observers of how subtle modifications on social media can profoundly impact token valuations.

Following the profile picture update, the official Phoenix project account released a statement, expressing gratitude for the CTO's endorsement: "The Phoenix rises higher today. Thank you, Joel Katz, for embracing the vision. From ashes to eternity, $PHNIX lives on XRPL," a message that further fueled the token's momentum. At the time of this report, PHNIX was trading at approximately $0.00002264, reflecting its impressive growth.

The spectacular surge echoes previous market events triggered by Elon Musk, who has demonstrated a remarkable ability to impact the values of various cryptocurrencies, most notably meme coins. In 2021, Dogecoin witnessed a 20% increase after Musk briefly incorporated references to the meme coin into his profile picture. Moreover, earlier this year, Musk's decision to temporarily change his profile name to "Harry Bōlz" led to an astonishing 3,000% rally in the associated token, demonstrating the power of social media influence.

Illustrative of this trend, the KEKIUS token also experienced a remarkable 120% increase in May, coinciding with Musk's adoption of it as part of his X branding. Therefore, Schwartz's recent engagement with the PHNIX token injects similar speculative dynamics into the XRP ecosystem. The fact that Schwartz's actions are more noteworthy as, unlike Musk, the Ripple CTO has not generally been associated with meme coin endorsements.

This recent PHNIX price surge is a striking example of how influential individuals within the cryptocurrency world can dramatically shape market perception. These actions highlight the critical interplay between social media gestures, market psychology, and the volatility inherent in the digital asset landscape.