Elon Musk recently tweeted a meme involving Pepe the Frog, which significantly influenced the price of the PEPE token. Following his tweet, the token experienced a surge of over 60% in value within a short period. This is not an unusual occurrence, as Musk's tweets have previously caused similar price increases in other meme coins, such as Dogecoin and Milady Meme Coin.

The market's response to Musk’s tweet highlights the strong influence of social media on cryptocurrency prices. Despite this surge, PEPE’s current price remains below its all-time high achieved in May 2023. Investors should remain cautious when making decisions based on such events, as price spikes caused by tweets can be highly volatile and short-lived.

If you are considering investing in PEPE or other meme coins, ensure you evaluate the risks and avoid relying solely on temporary hype. Always diversify your investments and perform thorough research to make informed decisions.