Elon Musk’s sudden change of avatar to Pepe the Frog and rebranding his X handle to Kekius Maximus had an immediate impact on the PEPE meme coin. Within two hours, PEPE’s price surged by 12%. Musk’s playful post, referencing the game Path of Exile, fueled the excitement, as the crypto community responded quickly to the news.
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Crypto Community Reacts Enthusiastically
The PEPE community didn’t hold back. According to U.Today, Musk’s tweet about reaching level 80 in Path of Exile helped to drive two long green candles on the PEPE chart, signaling strong price momentum. It appears the community was thrilled with this fresh energy, which quickly propelled the coin’s value.
Hoskinson Analyzes Musk’s Meme Overload
Charles Hoskinson, founder of Cardano (ADA-USD), weighed in on the complex layers of memes and crypto references tied to Musk’s new persona, Kekius Maximus. Hoskinson pointed out that explaining this persona to ‘normies’—those unfamiliar with the deeper nuances of internet culture—would likely prove challenging. He emphasized that Musk’s choice of name and avatar delves into a mix of crypto references, internet memes, and layers of cultural symbols, making it a fascinating yet intricate concept for many to unpack.
