Frog

Pepe

Elon Musk

<p>Twitter boss Elon Musk has shared a meme with Pepe the Frog with his followers. The Pepe coin has been the top-performing cryptocurrency in the market since last month. In the last 24 hours, the PEPE token has seen a significant increase of 52.54% according to <a href="https://coinmarketcap.com/hu/currencies/pepe/">CoinMarketCap</a>.</p>
<h2 style="text-align: center;" id="pepe-coin-8217-s-meteoric-ascent-the-power-of-social-influence">Pepe Coin&#8217;s Meteoric Ascent: The Power of Social Influence</h2>
<p>In the beginning, it was just a meme: an image of a green frog named Pepe, created by Matt Furie, which found its way into the hearts and minds of internet users worldwide. Fast forward to today, and Pepe has morphed into a full-fledged cryptocurrency. The Coin, once a fringe asset, has seen its value skyrocket, thanks to the powerful influence of a few key players.</p>
<p>&nbsp;</p>
<p>Elon Musk, the mercurial billionaire and CEO of Tesla and SpaceX, recently took to Twitter to share a whimsical meme featuring Pepe. The tweet, while seemingly innocuous, had a dramatic effect on the price of Pepe Coin. Within a short time frame, the value of the cryptocurrency increased by a whopping 54%, as reported by U.Today.</p>
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
<p lang="en" dir="ltr">Explaining Constitutional Amendments <a href="https://t.co/oYkMPBe9Zi">pic.twitter.com/oYkMPBe9Zi</a></p>
<p>&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1657318313532313600?ref_src=twsrc%5Etfw">May 13, 2023</a></p></blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p>This significant rise in value was driven not only by the tweet itself but also by the subsequent buying frenzy it triggered. As the news of Musk&#8217;s tweet spread, &#8216;crypto whales&#8217; (individuals or entities with substantial cryptocurrency holdings) began purchasing trillions of Pepe <a href="https://walletinvestor.com/forecast/pepe-prediction">Coins</a>. The result was a market fervor that pushed the coin&#8217;s price to new heights.</p>
<h2 style="text-align: center;" id="the-market-rally-a-sign-of-recovery-for-pepe-coin">The Market Rally: A Sign of Recovery for Pepe Coin?</h2>
<p>The surge in Pepe Coin&#8217;s value ignited a spark of optimism among its investors. As highlighted by The News Crypto, the coin witnessed a 52% price increase within 24 hours, which prompted speculation about a potential recovery on the horizon.</p>
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
<p lang="en" dir="ltr">We discovered 3 Smart Traders buying back <a href="https://twitter.com/search?q=%24PEPE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$PEPE</a> in the last 24 hours.</p>
<p>All of whom made above $1M in profit trading the meme coin mania.</p>
<p>Can <a href="https://twitter.com/search?q=%24PEPE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$PEPE</a> make a comeback soon? <a href="https://t.co/LZBIKZfzz5">pic.twitter.com/LZBIKZfzz5</a></p>
<p>&mdash; The Data Nerd (@OnchainDataNerd) <a href="https://twitter.com/OnchainDataNerd/status/1657223869751767040?ref_src=twsrc%5Etfw">May 13, 2023</a></p></blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p>This kind of rapid price increase is not an uncommon phenomenon in the cryptocurrency market. Volatility is a defining characteristic of digital currencies, and sharp price swings can often be triggered by a variety of factors, ranging from market sentiment to influential tweets. However, the case of the Coin underscores the unique interplay between popular culture, social media, and cryptocurrency market dynamics.</p>
<p>&nbsp;</p>
<p>For those who have been tracking the coin, the recent rally signifies more than just a fleeting surge. It hints at the potential for the Coin to regain its momentum and chart a recovery course. It serves as a reminder that in the realm of cryptocurrencies, fortunes can change in the blink of an eye.</p>

Elon Musk’s New Meme Tweet Pushes PEPE 54% Up, Whales Buy Trillions of PEPE

Table of Contents

WalletInvestor

Other articles published on May 13, 2023

AI Wars: Google’s Improved Bard Is Ready to Take On OpenAI’s ChatGPT

Silvergate Capital Faces Delisting and Layoffs After Silvergate Bank Collapse

Award-Winning Green Web3 Start-up Ecoterra Raises $3.5 Million as Investors Swoop In Ahead of 10%...

BTC Makes a Comeback After Recently Losing the $27K Support Level

Venture Capital Defies Crypto Winter: $2.6 Billion Invested in Q1 2023

Meme Coin Market Crashes 50% from $1B After Traders Take Profit

Join our free newsletter for daily crypto updates!