PEPE on the Run
The latest crypto market correction has severely affected the meme coin sector, with many tokens charting substantial weekly declines. For instance, Shiba Inu (SHIB) is down 6%, while dogwifhat (WIF) has plunged 9%. However, Pepe (PEPE) defied the negative trend, recording a 6% price upswing. The frog-themed token also saw its market capitalization rising above $8 billion again, solidifying it as the third-biggest meme coin.
The past 24 hours have also been painful for the bulls, with SHIB, BONK, PENGU, and many more heading south. However, PEPE’s resurgence could be linked to one of Elon Musk’s latest interactions on X.
Elon Musk and Memes
Elon Musk is known for his love of memes and has often used his platform to promote certain cryptocurrencies. This is not the first time he has made waves in the meme coin niche with his posts on X. Musk is a huge proponent of Dogecoin (DOGE), often praising its merits and endorsing it on the social media platform.
Last month, the biggest meme coin experienced a 10% price increase after Tesla’s CEO talked about the establishment of a Department of Government Efficiency (D.O.G.E.) should Donald Trump win the US presidential elections. The Republican emerged victorious and put Musk in charge of this division.
D.O.G.E. will aim to streamline the US federal government by reducing wasteful spending and eliminating unnecessary regulatory agencies. Floki Inu (FLOKI) is another meme coin that has witnessed a price boost after comments from Elon Musk. In February 2023, he posted a picture of his dog dressed as the CEO of Twitter (as X was called back then). Musk’s pet is named Floki, which explains why the eponymous meme coin shot by over 40% shortly after the interaction.
PEPE’s Resurgence
PEPE’s resurgence could be linked to one of Elon Musk’s latest interactions on X. The owner of the social media platform changed his profile picture to Kekius Maximus – a frog that wears Roman armor.
KEKIUS is a meme coin operating on multiple blockchain platforms, including Ethereum and Solana. It saw the light of day in mid-December and up until Musk’s post was trading sideways at approximately $0.01. The endorsement from one of the richest people on the planet triggered a massive resurgence for KEKIUS, whose price skyrocketed by 550% in the past 24 hours. Nonetheless, its market capitalization remains below $100 million, meaning it is far from reaching the top 100 club (at least as of the moment).
Conclusion
In conclusion, PEPE’s resurgence could be linked to one of Elon Musk’s latest interactions on X. The meme coin has defied the negative trend in the market and has seen its market capitalization rising above $8 billion again, solidifying it as the third-biggest meme coin. It is essential to monitor the market and keep an eye on any potential trends or changes that could impact the price of PEPE.
FAQs
Q: What is PEPE?
A: PEPE is a frog-themed meme coin that operates on multiple blockchain platforms, including Ethereum and Solana.
Q: Why did PEPE’s price surge?
A: PEPE’s price surge could be linked to one of Elon Musk’s latest interactions on X. The owner of the social media platform changed his profile picture to Kekius Maximus – a frog that wears Roman armor.
Q: What is KEKIUS?
A: KEKIUS is a meme coin that saw the light of day in mid-December and operates on multiple blockchain platforms, including Ethereum and Solana.
Q: How did Elon Musk’s post affect KEKIUS?
A: Elon Musk’s post triggered a massive resurgence for KEKIUS, whose price skyrocketed by 550% in the past 24 hours.
Q: What is the current market capitalization of PEPE?
A: The current market capitalization of PEPE is above $8 billion.
Q: What is the current market capitalization of KEKIUS?
A: The current market capitalization of KEKIUS remains below $100 million.
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