Trump’s Tweet Sparks a Surge in PEPE Coin’s Market Value

A recent tweet by U.S. President Donald Trump featuring an image of a frog sparked interest and led to a significant price increase for the memecoin, PEPE. The coin’s value surged from $0.00001440 to $0.00001490 before retracting slightly. While the exact cause-and-effect relationship remains unclear, the tweet highlights the powerful impact social media and political sentiment can have on cryptocurrency markets. PEPE’s market cap reached $6.3 billion within an hour after the post. This surge was accompanied by a surge in trading volume (55%) to $1.69 billion, and a rise in social engagement metrics along with a corresponding increase in open positions.