Key Point

• Elon Musk’s tweet pushes PEPE up by over 50%

From DOGE to Milady and now PEPE, rather than calling him the DOGE Father, meme coins influencer seems to be more appropriate for Elon Musk at this time.

PEPE gained incredible momentum shortly after it was launched in April, with many making sizable profits, and that’s if they were satisfied before it started plummeting.

The rise in the price of PEPE within a short period can be attributed to the hype in the community, and when the community couldn’t keep up with the hype, the coin started plummeting; many even thought Binance listing would skyrocket the price of the token, contrarily, PEPE has been plunging shortly after it was listed on the world’s largest crypto exchange, probably many of PEPE investors are taking profits already.

On Saturday, Mr. Musk took to Twitter to tweet a meme focusing on the constitutional amendment in the US; even though what was written on the tweet’s image wasn’t related to crypto, the accompanied character of the tweet indicated PEPE the frog, sparking a discussion about his direct or indirect support for the popular meme coin PEPE.

Reacting to the tweet, PEPE’s official Twitter handle retweeted by tweeting, “Seize the memes of production,” sounding like the famous phrase “Seize the Means of Production.”

Following the tweet, the coin, which has been plummeting of recent, quickly soared by 54%.

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