The PEPE coin has been energized by the Musk wind! Is the rise temporary or permanent?

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.