Pepe coin price is ending 2024 on a high note as it surged by almost 20%, erasing some of the losses made this month.
Pepe (PEPE), the third-biggest meme coin, climbed to a high of $0.000022, its highest level since Dec. 18. The rebound came after Elon Musk, the wealthiest person in the world, updated his X profile picture to a Pepe-like image.
Musk, one of the most influential people globally, has over 234 million followers on X, close ties with Donald Trump, and a fortune of nearly half a trillion dollars.
His action could indicate growing interest in Pepe, similar to his previous engagement with Dogecoin (DOGE). Musk’s tweets about Dogecoin in 2020 preceded its public surge in 2021, helping DOGE become the largest meme coin with a market cap of over $47 billion.
Pepe has experienced remarkable growth since its inception in 2023, with its market cap soaring from near zero to a peak of over $10 billion earlier this month. The token has surged by nearly 1,500% in the past year, ranking it among the best-performing meme coins.
Pepe has created significant wealth for many investors. According to IntoTheBlock, 70% of all holders, or about 178,000 people, are in profit, while 24% have incurred losses. The remaining investors are at breakeven.
Pepe Coin price analysis
Go to Source to See Full Article
Author: Crispus Nyaga
