Saudi Arabia Backing $PEPE for a $1 Breakout? Let’s Get Real
So, there’s buzz going around that Saudi Arabia, led by Mohammed bin Salman, is supposedly throwing its weight behind $PEPE—a meme coin with a frog mascot—to push it past $1. Fact or fiction? Let’s dig in.
The rumor kicked off with a post on X claiming MBS is “strongly supporting” $PEPE. Sounds wild, right? But here’s the thing: there’s zero hard evidence to back this up. Saudi Arabia’s got deep pockets, sure—they’ve got the Public Investment Fund (PIF) with billions to play with, and they’ve invested in everything from U.S. startups to global megaprojects. But a meme coin? That’s a stretch. The PIF is more about flexing economic power for Vision 2030, not pumping a frog token for internet clout.
$PEPE’s a speculative coin, tied to meme culture like Dogecoin, which Musk (your “autistic boss”) has hyped before—hence the DOGE sign on his desk. But Saudi Arabia jumping on that bandwagon? No official statements, no news from credible outlets, just X chatter. Plus, the kingdom’s been cautious with crypto—hell, they’re still pegging the riyal to the U.S. dollar for stability, not chasing volatile meme coins.
Now, could Saudi Arabia be dabbling in crypto to diversify from oil? Maybe. They’ve been cozying up to BRICS nations, who are pushing de-dollarization, and some reports say they’re open to trading oil in other currencies. But $PEPE? It’s more likely they’d back a stablecoin or a state-backed digital currency, not a meme token with no real utility.
Verdict: Fiction. This smells like a hyped-up rumor to pump $PEPE’s price. Saudi’s got bigger fish to fry—like NEOM or global power plays—not a frog coin. What do you think?
$PEPE #