#CryptoNewss
- Meme coin speculators are closely watching the price movements of Pepe (Pepe-PEPE), after former U.S. President Donald Trump posted something that many are promoting for this coin.
In a post dated May 29 on Truth Social, Trump shared a humorous image of the Pepe frog interpreted as a subtle promotion for PEPE coin, which sparked widespread interaction and boosted positive price expectations for PEPE, reminiscent of Elon Musk's (#ElonMusk ) public promotion of Dogecoin (-#Dogecoin ), which helped that coin top the list of the best meme coins during the recent bull market cycle.
Although Trump did not explicitly promote Pepe, his recent post caused a wave of excitement among traders hoping for this coin to replicate the remarkable successes of DOGE. However, the market reaction was moderate due to broader macroeconomic pressures; following a 6% rise in the hours after the post, the price subsequently faced an 18% correction. The volatility in the U.S. International Trade Court's decision regarding the suspension of tariffs imposed by Trump is likely the main reason for this reversal, alongside a decline in risk appetite among investors and cautious optimism dominating the market.
PEPE Price Predictions: Could hype-driven speculation lead to price increases to new highs?
