Musk has a well-documented history of engaging with meme culture on X, including posting and interacting with memes related to Pepe the Frog, the character behind the $PEPE token. These actions have significantly influenced the coin’s market performance, as his social media activity often drives speculative interest in meme coins.

Recent posts on X and web reports indicate Musk has shared Pepe-related content multiple times. For instance, in April 2025, Musk tweeted an image of Pepe the Frog dressed as an American superhero, which coincided with a broader crypto market rally and led to an 18% surge in $PEPE’s price within hours. Earlier, in May 2025, he tweeted a frog on a rocket, interpreted by the crypto community as a nod to $PEPE, resulting in a 38% price jump over two days. X users have also noted Musk’s pattern of liking and posting Pepe memes, similar to his earlier Dogecoin ($DOGE ) engagement, which some interpret as a precursor to potential price pumps.

However, Musk’s interactions appear to be more about engaging with internet culture than a direct endorsement of as a cryptocurrency. His posts often lack explicit mentions of the coin itself, and the price movements are driven by community speculation rather than clear statements of support. For example, a liked tweet or a meme post can spark market reactions, as seen with Dogecoin in 2021, where his tweets led to significant price spikes. The crypto market, especially meme coins, is highly sensitive to such high-profile social media activity.

It’s worth noting that $PEPE, like other meme coins, thrives on hype and community sentiment rather than fundamental utility, making it particularly volatile in response to figures like Musk. Investors should be cautious, as these price surges can be short-lived, and recent data shows has faced downturns, dropping 6.7% in a day and 14.5% over a week as of early June 2025. Musk’s meme posts are best viewed as cultural engagement rather than financial advice. Always approach meme coin investments with skepticism due to their speculative nature