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Is Elon Musk Fueling a Memecoin Breakout?

Pepe (PEPE) bounces back right before year-end and has gained 7% in the last 24 hours, making it one of the strongest memecoins.

By Mike Hesp
• 2 min read
Is Elon Musk Fueling a Memecoin Breakout?

Pepe (PEPE) is bouncing back right before year-end and has posted a 7% gain in the last 24 hours, making it one of the strongest memecoins. The price is currently $0.0000198, about 30% below its high for the month.

A major reason for the rally is Elon Musk, who recently changed his profile photo on X (formerly Twitter) to the popular frog meme, Pepe's symbol. He has also rebranded himself as View post on X, which led to a strong surge in the associated memecoin (KEKIUS). Pepe is also riding this hype.

Unlike other memecoins like dogwifhat (WIF) and Brett (BRETT), Pepe is performing better right now. The price of the largest memecoin on Ethereum (ETH) has risen 11% over the past week, while rivals from the Solana and Base ecosystems have taken significant losses.

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