In the 2024 cryptocurrency bull market, Musk jumped into support of the Pepe token instead of Dogecoin.
Elon Musk is the richest person in the world. He is the owner of popular electric car manufacturer Tesla, space missile manufacturer SpaceX, social media platform
On March 13, 2024, Elon Musk shared a meme with his followers on X. In the meme, he used an image of the $Pepe token frog.
However, he did not mention the Pepe token in any way, but many people thought that Musk indirectly supported the Pepe token during this bull market.
Moreover, he used references to Ponzi and questionable cryptocurrency tokens to explain how the US Federal Reserve (Fed) is mishandling the US dollar.
Taking all factors into consideration, we can say that Musk is indirectly talking about the meme crypto token, but strangely he has not delivered any comments/tweets to support his most loved crypto token, Dogecoin (Doge).
Following Musk’s tweet, the trading price of the Pepe token rose 10% in a matter of hours. The current trading price of Pepe token is $0.00000891 and this trading price is up 7.5% in the last 24 hours.
Amid this cryptocurrency rally, the trading prices of two types of cryptocurrency assets have surged faster than the main cryptocurrency assets. In particular, over the past 5 to 6 months, both artificial intelligence (AI)-centered cryptocurrency tokens as well as meme tokens with former U.S. President Donald Trump as a motif have shown a significant rebound.
All these are also very big proofs that the meme trend exists, but here cryptocurrency traders should understand the best meme tokens among the crowd of all types of tokens instead of blindly investing.
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