Has Elon Musk invested in Pepe Coin?
Musk has influenced the price of PEPE on numerous occasions. The tech billionaire changed his X username to "Kekius Maximus" in late 2024, and his profile picture to a representation of the frog as a warrior. His actions triggered a substantial surge in the price of the memecoin.
While Musk has interacted with the Pepe meme, he has never publicly spoken about the memecoin. His admiration for Dogecoin (DOGE) is well-known. However, there is no record of the billionaire speaking about any other memecoin.
In summary, there is no clear way to know for sure if Musk has invested in PEPE. Many posts on X suggest that Musk owns $10 million in the memecoin.
These posts do not provide a clear picture. When asked for sources, people often simply receive a "trust me, bro" from other users.
Important Correction for the Memecoin
PEPE has experienced a substantial price correction in recent days. The asset recorded some gains on Thursday following Musk's post, but has since fallen back. PEPE is down 2% on daily charts, 4.7% on weekly charts, 7% on 14-day charts, 27.1% compared to the previous month, and 11.8% since June 2024.
The cryptocurrency market has struggled to gain momentum in recent weeks. The Federal Reserve decided to hold interest rates after its last FOMC meeting. This decision could lead to ongoing pessimism in the market. Global geopolitical tensions have also exacerbated investors' concerns.
