Elon Musk, a billionaire known for his love of crypto-related memes, shared a humorous image of Pepe the Frog with his followers on Saturday. Pepe is the image of the recently launched popular meme coin PEPE. CoinMarketCap data shows that PEPE increased by 54.7% after Musk's post. Elon Musk's tweet was also cited by the official Pepe Twitter account, which added the comment "seize the memes of production $PEPE." Not just this cryptocurrency benefitted from Elon Musk's price rise last week. The Tesla CEO allegedly sent a meme to Milady Meme Coin (LADYS) on May 11. The recently released coin's price soared by up to 12,056% as a result of that tweet.

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