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PEPE coin on a rally after Elon Musk's tweet

Elon Musk's latest tweet, coupled with President Trump's tariff pause announcement, had the meme coins rallying.

On Apr. 9, President Donald Trump announced a 90-day pause of “retaliatory tariffs” on all the countries except China. The announcement sent the global stock and crypto markets rallying within minutes.

Trump’s billionaire senior advisor Elon Musk winked at his followers — figuratively — on X (formerly Twitter) along with an image of Pepe the Frog dressed like an American superhero.

Note that Musk had reportedly made direct appeals to the president to reverse the new tariffs. But it seems Trump had a different plan in mind altogether.

The tech billionaire is well known for his fascination with cryptocurrency, and his latest tweet had the PEPE meme coin finally landing in the green zone after continuous decline following the “Liberation Day” tariffs announcement.

PEPE was trading at $0.056998 an hour after Musk’s tweet, as per Kraken’s price feeds. The token reflected a hike of more than 15% over the last 24 hours.