PEPE Continues to Soar as Elon Musk Sparks FOMO Frenzy
Release: 2024/12/11 17:01 Reading: 593
Elon Musk, CEO of SpaceX and Tesla, made an indirect reference to Pepe (PEPE) on Tuesday morning, December 10. This mention resulted in a positive surge in the meme coin's price.
After the reference, the asset witnessed a 2.3% increase following the social media tag. At the time of writing, the crypto has a market capitalization of $10.67 billion, with a trading volume that rose by 78.34% compared to the previous day.
In his Tuesday post, Musk mentioned PEPE, which has garnered 517.8k views at the time of writing. This highlights Elon Musk's significant influence on the cryptocurrency market.
Elon's Support for Pepe
This Twitter post aligns with recent predictions by crypto analysts that Elon Musk has been supporting Pepe discreetly. In late November, crypto analyst Chandler Bing discussed Musk's social media activity on their x account, suggesting support for the token.
In a subsequent post, Chandler indicated that Musk's actions mirrored his behavior with Dogecoin in 2020, where his tweets about the meme coin led to a substantial price increase. In 2021, Musk publicly disclosed his investment in Dogecoin. The recent appointment of Elon as head of the Department of Government Efficiency (DOGE) also contributed to a remarkable surge in Dogecoin's value last month.
Musk's latest tweet is a public declaration of his support for PEPE, aligning with Chandler's previous speculations. In the past, Musk has openly acknowledged his investments in Bitcoin and Dogecoin.
Pepe's Price Movements
Pepe has shown impressive price performance in recent times. Over the last seven days, PEPE has risen by 24.10%, outperforming the global digital asset market, which has declined by 1.00%. In the last 30 days, PEPE's 121.5% increase has surpassed the 30-day price surges of Dogecoin and Shiba Inu, which stood at 80.3% and 20.4%, respectively, at the time of writing.
On December 8, Pepe reached a new all-time high of $0.000027, leading to a $11 billion market capitalization for the first time. This surge has positioned Pepe as the 19th largest cryptocurrency globally, surpassing Bitcoin Cash and Uniswap.
The rising demand for PEPE has been a key factor in its recent price surge. In the four days leading up to December 10, the coin saw a surge in new wallets, with 13,030 new addresses created. This uptrend momentum reflects positive market sentiment that could extend beyond short-term speculation, leading to sustained interest from new market participants.
Discussions on FOX News about BTC and PEPE as investment options have also contributed to the asset's growth. Additionally, whale activity has been attributed to Pepe's remarkable price increase.
Late last month, Pepe experienced a 250% increase due to an indirect endorsement by Elon Musk, following his appointment to lead the DOGE. Musk's involvement not only boosted interest in Dogecoin but also other meme coins like PEPE.
Recent news
More>- BTFD’s P2E Future and $3.4M Presale Success Place It Among the Best Meme Coins to Join Now; While Pepe Rockets and Coq Inu Stirs Coinbase Ta... 12-12
- Pepe Loves Santa (PEPESAN) Memecoin Will Explode Over 19,000% Before Exchange Listings, While Shiba Inu and Dogecoin Lag 12-12
- Dogecoin Price Prediction for Today, December 11 – DOGE Technical Analysis 12-12
- Best Crypto to Buy Before 2025: Monsta Mash Presale Set for 100% Price Surge, as Tron & Pepe Hit New ATHs! 12-12
- XYZVerse targets $10 from $0.001 — poised to beat PEPE and SHIB in 2025 12-12
- Missed PEPE’s Riches? Don’t Let this Best Meme Coin Presale Slip Away! 12-12
- Pepe Unchained (PEPU) Launches On DEX: Best New Meme Coin To Watch? 12-12
- Pepe Unchained Price Skyrockets 116% To Hit New All-Time High – Is Wall Street Pepe (WEPE) Next? 12-12
- Pepe Loves Santa (PEPESAN) Will Explode Over 19,000% Before Exchange Listings, While Shiba Inu and Dogecoin Lag 12-12
Selected Topics
More>>-
- pepecoin Price Analysis
- This topic provides articles related to PepeCoin price, covering key PepeCoin insights and analysis
-
- pepe:meme star
- This topic provides articles related to the most promising meme, PEPECOIN, a project with the potential to become a mainstream digital currency. It has the advantages of decentralization, reliability, ease of use, fast speed, low cost and scalability, and is expected to be more widely used in the future
-
- pepecoin price prediction
- We’ve gathered facts about pepecoin’s success story and provided a pepecoin price prediction
Selected Articles
More>>- 1 Avalanche and Aptos rival raises over $600k in 2 weeks
- 2 Crypto Prices Today: Market Continues Rally With BTC, Pepe Coin, SEI Rising
- 3 Major Analyst Crypto Tony Bullish on These Meme Coins, But One Stands Out
- 4 MTAUR Ready to Crush DOGE and PEPE: 100x Price Growth Incoming?
- 5 Memecoins Surge in 2024, Popcat Leads with 7,621% YTD Gain, Outshining Top Crypto Tokens
- 6 PEPE Meme Coin Smashes ATH – See How Much an $83 Investment in Pepe Coin Last Year is Worth Now
- 7 Top 4 Altcoins At 70% Discounts – Last Chance!
- 8 Dogecoin Creator Proposes DOGE to NBA Legend Scottie Pippen
- 9 Top Analyst Who Predicted Dogecoin (DOGE) Last 170x Rally Forecasts New Parabolic Rise, Here’s His Price Target
- 10 New Solana Memecoin Trump Loves Elon to Rally 15,000% Before Exchange Listing, SHIB and Bonk Crash
ABOUT US
We are building the most influential，trusted information platform for aglobal community engaged in thd transformation of the financial system andthe emerging crypto economy.PEPE is an integrated platform for media,events,data & indices for the next generation fo investing and the future of money.
Get in touch with the PEPE team at admin@pepecoinbuy.com