- Pepe coin’s price surged by 4.82%, driven by Elon Musk’s post showing a bullish market sentiment.
- The meme coin’s trading volume increased by 51.53%, and market cap by 4.40% signaling strong investor interest.
- Musk’s X post also sparked a 5.33% rise in open interest and a 56.84% surge in volume.
Renowned entrepreneur Elon Musk’s recent post related to Pepe has sparked considerable interest among crypto enthusiasts worldwide. As of the latest update, Pepe coin has observed a substantial uptick of 4.82% in its price over the past 24 hours, currently trading at $0.000008764. The surge in the token’s 24-hour trading volume by 51.53%, along with a 4.40% increase in market capitalization, signals a bullish dominance in the market.
Musk’s post appears to have significantly impacted the meme coin PEPE leading to a notable surge in its value.
Moreover, statistics from Coinglass show a 5.33% surge in the meme coin’s open interest, reaching $116.67 million, and a 56.84% rise in volume, amounting to $1.40 billion. These figures indicate a positive trend for PEPE within the market, with new investors pouring in, stimulating market activity.
Musk’s post, shared today, offered a glimpse into the fascination of the world’s most prominent entrepreneur with the Pepe meme. The interaction with other notable figures on the platform further caused a bullish sentiment surrounding Pepe coin across the broader crypto market.
Elon Musk’s actions have affected another cryptocurrency before. Recently, he took legal action against OpenAI and its CEO Sam Altman, accusing them of not fulfilling their promised goals. This unexpected move has caused a stir in the tech community and financial markets.
As a result, Worldcoin (WLD), the cryptocurrency associated with OpenAI, saw a sharp 5% decline in value, dropping from $8.25 to $7.6, but has since recovered to $7.83, reflecting a 1.7% increase. The lawsuit comes at a time when Worldcoin’s token was experiencing significant growth.
Musk who co-founded OpenAI in 2015 claimed that the organization has shifted its focus from developing artificial intelligence for the benefit of humanity to pursuing profits instead. This legal action speaks about Musk’s concerns that OpenAI under Altman’s leadership has abandoned its noble cause.
