The statements made by Elon Musk, one of the richest businessmen in the world, on social media continue to cause rapid changes in the value of crypto currencies. Musk, who caused a sudden increase in the value of PEPE, a meme coin, with his last comment, once again showed his influence in the cryptocurrency market.

Elon Musk and Meme Coins

Elon Musk is especially known for his support of Dogecoin, and his comments in the past have caused large increases in the value of many meme coins. He recently commented on a post by TheBabylonBee and helped PEPE coin attract the attention of investors.

While Musk's comments had a major impact on the cryptocurrency world in general, his final impact was more modest. Musk, who also caused Dogecoin's past increases, continues to attract attention in the market.

PEPE's Instant Price Movements

Following Musk's comment, the price of PEPE suddenly rose by 5% to $0.0000078, but then fell slightly to $0.00000763. Despite this, PEPE has provided its investors with a gain of over 500% in the last 30 days, and its market volume increased by 4%, reaching $3.2 billion.

Despite this interest and price increases, PEPE's 24-hour trading volume decreased by over 30% to 646 million dollars. This may indicate that investors are cautious about trading and interest in meme coins is decreasing.