10.12.2024 17:40
Elon Musk's PEPE posts have once again stirred the market. Following the launch of a new artificial intelligence called Grok, Musk shared a post about PEPE on his social media account, which led to an increase in the price of Pepe coin. So, is this rise temporary or permanent? Here are the details...
On December 10, Elon Musk once again brought both himself and the meme coin world to the forefront of the crypto agenda with a series of posts on the X platform. The rising engagement following the global free access launch of the AI called Grok led to a focus on Musk's posts made through social media.
Is the rise temporary or permanent?
Musk drew attention by resharing various meme coins produced by users. His posts, especially those related to Pepe (PEPE), created a short-term price increase. However, this positive atmosphere could not be maintained for long due to the downward trend in the overall crypto market. Although PEPE experienced losses on December 10 along with other altcoins, it showed signs of recovery with purchases coming in at the level of $0.000022. Analysts indicated that this recovery might have been triggered by Musk's posts.
Musk's influence on social media has once again opened the debate on his manipulative power in the crypto market. Investors are divided on the sustainability of this interest in meme coins and the potential risks it poses to the market. Nevertheless, Musk's impact on the crypto ecosystem continues to be closely monitored by investors and analysts.