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In a latest put up on X (previously Twitter), tech magnate and meme lover Elon Musk as soon as once more highlighted his fondness for this web phenomenon.
His put up on X featured a picture of the frog-themed cryptocurrency PEPE, sparking curiosity amongst his followers. The image famous,
“The primary modification is for sharing memes with frens. The second modification is for once they try to cease me from sharing memes with frens.”
Following Musk’s tweet that includes Pepe the Frog, the meme coin’s value surged by a staggering 23%, albeit adopted by a big decline. At press time, PEPE was down 12% and was buying and selling at $0.000009257.
Crypto whale actions
On the identical day, an unidentified crypto whale transferred a considerable quantity of two trillion PEPE cash from Binance to Crypto.com. This hefty chunk of PEPE was valued at $20 million on the time of the transaction.
Only a day prior, an enigmatic dealer deposited 500 billion PEPE, value round $4.3 million on Binance, presumably gaining $1.32 million.
Since 2020, Elon Musk’s public embrace of memes began gaining notable traction. He has expressed specific enthusiasm for the unique meme-inspired cryptocurrency Dogecoin [DOGE].
Remarking on the identical, Musk had tweeted,
“Tesla merch buyable with Dogecoin.”
Just lately, he additionally noted,
“He who controls memes, controls the universe…I’m the meme lord.”
Furthermore, Musk’s tweet was shared by the official account of the Milady meme coin (LADYS), resulting in hypothesis amongst traders. Curiously, Musk’s earlier meme-related put up in mid-Could 2023 that includes LADYS’ mascot resulted in an astounding surge of 12,056% for the cryptocurrency.
Individually, the PEPE put up comes days after Musk equated fiat forex to “scam coins.”
All of those situations underscore Musk’s constant advocacy for different currencies and his crucial examination of the present monetary system’s practices.
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