If You Invest $1,000 In Pepe When Elon Musk Shares At The Beginning Of This Year, This Is The Amount You Will Have

The price of the PEPE coin is soaring on Tuesday after billionaire Elon Musk changed his name on the X social media platform and changed his profile picture to an image of the Pepe frog playing video games. While Musk's changes to X have raised optimism for the meme currency, this is not the first time the billionaire has supported memes and images of Pepe the Frog on social media. Let's take a look back. What happened: Pepe Coin, based on the famous Pepe the Frog meme, was launched in mid-April 2023 and attracted the attention of the cryptocurrency community. The number of holders increased rapidly due to the popularity and recognition of the meme. While the first year of Pepe coin was memorable, its second year included being listed on Robinhood, making it easier for investors to buy. The coin reached a new all-time high in December, following multiple cryptocurrencies hitting new all-time highs after the 2024 presidential election. Meme Pepe the Frog was created by the artist Matt Furie. Because this meme is so famous, being used by the richest person in the world and the most followed account on X can help increase interest in cryptocurrencies. Musk renamed himself Kekius Maximus on X at the end of December 2024 while changing his profile picture to an image that seems to combine Pepe the Frog with a video game warrior. This action led to the creation of a new cryptocurrency meme Kekius Maximus, also causing Pepe's stock price to rise more than 11% in the past 24 hours at the time of writing. Musk also tweeted that he will reach level 80 in PoE hardcore, a post related to the game Path of Exile 2 that he enjoys playing. Kek is a term used in gaming culture, often translated as lol or haha, based on translations from popular games like World of Warcraft and Starcraft. There is also the Egyptian god Kek, described as Pepe the Frog since the 2016 election, according to Dictionary.com's report. The recent renaming and avatar change is not the first time Musk has used the image of the Pepe frog on X. This billionaire has shared some memes related to Pepe throughout 2024 and responded to many Pepe memes. On March 13, 2024, Musk used a meme featuring Pepe the Frog to explain the First and Second Amendment, as reported by Coinmarketcap. This may be the first time Musk has used the Pepe the Frog meme on X. This could be the starting point for investors interested in buying Pepe based on Musk's potential future support. You may not be a billionaire like Elon Musk, but you can uncover hidden gems in the stock market by using our proprietary data and pattern recognition technology — check out five lesser-known stocks worth your attention. Investing $1000 in PEPE: The Pepe coin was trading at a high of $0.000009332 on March 13, 2024. The investment of $1,000 at that time could buy 107,158,165.45 PEPE. Based on the current price of 0.00002047 dollars for PEPE at the time of writing, a $1,000 investment would be worth $2,193.53 today. This represents a potential increase of 119.4% over the past nine months. By comparison, $1,000 invested in Musk's favorite cryptocurrency Dogecoin or the SPDR S&P 500 ETF Trust, tracking the S&P 500, will not perform as well. An investment of $1,000 in Dogecoin today will be worth $1,829.74, an 83% increase compared to the same period. An investment of $1,000 in SPDR S&P 500 ETF Trust today will be worth $1,129.76, a 13.0% increase compared to the same period. Benzinga previously shared that investing in Dogecoin in April 2019 or July 2020 when Musk famously mentioned Dogecoin in his comments and posted his first meme could bring significant profits. There is no guarantee that Musk will completely switch from the Doge meme to the Pepe meme and maintain the development momentum of cryptocurrency, but the cryptocurrency industry may closely monitor by 2025.