Elon Musk, known for his support of Dogecoin, recently shared an image of the popular memecoin PEPE. This act of endorsement immediately captured the attention of his followers and speculators alike, resulting in a notable rise in PEPE's market value.
Musk's influence on cryptocurrency markets is widely recognized, with previous instances showing significant impacts on various coins. His recent post about PEPE has further demonstrated his ability to sway market sentiments and drive price volatility.
This development reaffirms the potent effect of social media and influential figures on cryptocurrency valuations, especially those rooted in meme culture such as Dogecoin and PEPE.
