In a Twitter/X post published on Wednesday, tech tycoon and meme lover Elon Musk made an emphasis on memes once again, which he does once in a while, as if reaffirming his support for this phenomenon. His love for memes began many years ago, however, only in 2020 did he tweet that “who who controls memes, controls the universe.” Musk is a fan of the original meme coin DOGE.
PEPE soars on Elon Musk’s tweet
Since it was Pepe the Frog depicted on the picture he published, the Pepe meme coin price immediately triggered a staggering 23.46% increase. It was followed by a major decline, therefore the overall PEPE rise within the last 24 hours constitutes 13.73%.
Musk’s tweet today was reposted by the official account of Milady meme coin (LADYS). In mid-May 2023, Musk posted a meme with its mascot and this propelled LADYS mind-blowing surge by 12,056%.
Memetic power is here and unstoppable with $LADYS https://t.co/zzrBQAvr2f
— Milady (@miladymemecoin) March 14, 2024
On the same day, an anonymous crypto whale transferred a massive PEPE chunk of 2,248,769,006,203 coins from Binance to Crypto.com. This amount of PEPE was evaluated at 20,219,806 at the time of the transaction making.
A day before that, another mysterious whale deposited 500 billion PEPE worth $4.3 million to the Binance exchange with a potential profit of $3.36 million (+30.9%). This trader had started his PEPE trade only ten days before that, according to the @spotonchain analytics account.
Elon Musk’s tweet equalizes USD and scam coins
On Wednesday, centibillionare and meme lover Elon Musk also posted a tweet which shows that he considered the US dollar to be somewhat unsustainable. He published a screenshot of another tweet (not posted by him), which describes scam cryptocurrencies.
A scam coin that is described in the screenshot has some “notable” characteristics typical of scam cryptos, according to the author of the tweet – 27 trillion coins circulating in the market, unlimited supply cap, only one node, 25% of the whole supply produced just within the past month and 30% of the supply held by only 1% of its holders.
The author of the tweet noted that this is very similar to US dollar with Fed Reserve’s constant printing. By making a repost of this, Elon Musk seems to be agreeing with the tweet’s initial author.
