Elon Musk Retweets Pepe Meme; Influencing Pepecoin Price

An hour ago, tech mogul and Tesla’s founder, Elon Musk retweeted a post based on the popular meme ‘Pepe the Frog’ meme, resulting in Pepecoin’s price fluctuation. The meme coin surged to $0.0000277 with a marginal 0.81% hike in an hour amid growing expectations of a rally in Pepecoin.

An X user named Yaroslav working on xAI (Grok) shared an update on the project’s advancement. In one of his threads on X, he prompted the generative artificial intelligence model to draw a Pepe Van Gogh style.

pic.twitter.com/xw0DwdAtAO

— Yaroslav (@512×512) December 9, 2024

In response, the Grok shared four images of Pepe the Frog with different expressions and scenery. After a while, Elon Musk retweeted the post, with the smiling emoji.

Pepecoin Surges Amid Whale Accumulation

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The meme coin surged over 150% in a month, lifting its price from $0.00001078 to $0.000028. The rally was mainly fueled by Donald Trump’s landmark victory in the U.S. presidential election in 2024.

Pepe has once again captured headlines, reaching its new all-time high of $0.000027 just hours ago. This achievement comes amidst significant market volatility, with the token delivering exceptional gains and outperforming many other crypto assets. The meteoric rise of Pepe is drawing substantial attention from both retail and institutional investors eager to ride the wave of its momentum.

The data reveals a remarkable development: whales collectively increased their Pepecoin holdings by $1.4 billion yesterday. This surge in accumulation by large investors often referred to as “smart money,” signals strong confidence in Pepe’s potential for continued growth.

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