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<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/elon-musk-triggers-meme-coin-price-spike-with-online-comment">Elon Musk Triggers Meme Coin Price Spike with Online Comment</a><br></p>
<p style="text-align: justify">Elon Musk, the tech mogul and <a href="https://en.bitcoinhaber.net/turkey-nears-completion-of-crypto-regulation-framework">cryptocurrency</a> influencer, recently caused a surge in the price of a meme coin following his online commentary. The coin in question experienced a rapid price increase, only to settle back slightly afterwards. This is not an isolated event, as Musk has a history of affecting the crypto market through his remarks on social media platforms.</p> 
<h2 id="musk-s-influence-on-meme-coins">Musk’s Influence on Meme Coins</h2> 
<p style="text-align: justify">Musk’s affinity for <a href="https://en.bitcoinhaber.net/dogecoins-market-dynamics-a-look-at-recent-price-movements">Dogecoin</a> is well-known, and his recent interactions have also triggered fluctuations in the values of other meme coins, including PEPE and WIF. The billionaire entrepreneur’s comment on a humorous post attracted investor attention to PEPE, a cryptocurrency with a frog theme.</p> 
<p style="text-align: justify">The immediate reaction to Musk’s engagement was a noticeable uptick in PEPE’s price, although the bump was less pronounced compared to previous incidents. Musk’s influence has been a repeated catalyst for Dogecoin’s value spikes, demonstrating his significant sway over the digital currency landscape.</p> 
<h2 id="pepe-s-market-response">PEPE’s Market Response</h2> 
<p style="text-align: justify">PEPE’s value briefly rose by 5% to $0.0000078 following Musk’s comment, before dipping to $0.00000763. The meme coin had already been performing well, yielding a 500% return for its investors over the past month amidst <a href="https://en.bitcoinhaber.net/bitcoin-controls-only-0-04-of-circulating-supply-according-to-bitinfocharts">Bitcoin</a>‘s record highs.</p> 
<p style="text-align: justify">The market capitalization of PEPE expanded by 4%, hitting a notable $3.2 billion and securing the 41st spot in market rankings. Despite the sharp price movement and growing market cap, the 24-hour trading volume for PEPE reduced by over 30%, suggesting a potential decline in investor trading activity or a decrease in interest towards the meme coin.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/elon-musk-triggers-meme-coin-price-spike-with-online-comment">Elon Musk Triggers Meme Coin Price Spike with Online Comment</a></h5>

Elon Musk Triggers Meme Coin Price Spike with Online Comment

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