Cryptocurrency Pepecoin has risen in price by 50% after Elon Musk’s tweet

Not financial advice!

Billionaire Elon Musk used the image of Pepe the Frog in a tweet about constitutional amendments, which immediately sent the value of the PEPE meme token soaring by 50%.
The price of PEPE reached a new all-time high of $ 0.431 per token in one day. The coin’s market capitalization increased to more than $ 1.8 billion.

PEPE was released in honor of Pepe the frog, which appeared on the Internet as a meme almost 20 years ago. Last weekend, Pepecoin’s capitalization exceeded $ 1 billion, but soon the rate collapsed by more than 50%. Nevertheless, PEPE is now one of the few meme tokens, along with DOGE and SHIB, that are among the top 100 cryptocurrencies by market capitalization.

Elon Musk recently tweeted a meme featuring an image from the NFT Milady collection. Since the tweet was posted, NFT Milady’s sales have increased by more than 2,000%.