Elon Musk indirectly referenced the meme coin Pepe (PEPE) in a tweet, causing its price to surge 2.3%. Musk's tweets have a significant impact on the crypto market. Analysts had previously speculated that Musk was secretly supporting Pepe, similar to his involvement with Dogecoin. Pepe has been performing well recently, outperforming other cryptocurrencies like Dogecoin and Shiba Inu. Its value reached an all-time high and it is now the 19th largest cryptocurrency globally. The surge in demand for Pepe has been attributed to rising interest, increased wallet creation, positive market sentiment, and discussions on FOX News. Musk's endorsement of Dogecoin also indirectly benefitted Pepe.



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