PEPE the Frog Coin (PEPE) Makes a Killer Gain of 17% to the End of 2024, Courtesy of Elon Musk

Recently, the frog-themed meme coin has undergone a dramatic pump by over 17% in the past 24 hours heading to December 31 noon (UTC).

Bitcoin (BTC) and the rest of the top 10 cryptocurrency assets by market cap have shown little excitement ahead of the New Year celebration. However, PEPE has made an impressive gain to the end of 2024.

The frog-themed meme coin has seen a killer gain of over 17% in the past 24 hours heading to December 31 noon (UTC). Interestingly, Tesla CEO and X owner Elon Musk had a hand in bringing a significant amount of attention to the token.

PEPE Performance

PEPE’s surprising rally has brought its price to a one-week top. The digital asset climbed from a $0.00001746 low to a $0.00002053 high before the fireworks welcomed the year 2025. As of 2:00 PM UTC this Tuesday, it remained within the $0.000021 range, locking in 11% of its one-day gain.

Along the way, the crypto’s trading volume soared by around 187%, indicating a huge demand for the token. It moved $3.77 billion worth of its assets across wallet addresses during the period. Meanwhile, the ensuing price action elevated the market cap of its 420.68 trillion total supply to $8.83 billion.

Except for the one-month chart wherein it lost roughly 5% of its value, PEPE has exhibited bullish moves in the rest of the long-term trends. So far, it has remained around 10% up in a week and 1,481% up in a year.

PEPE comes fresh from its all-time high last December 10 at $0.00002825.

Tale Behind the Pump

As we have covered earlier, Bitcoin and most mainstream altcoins have been trading in a consolidatory zone owing to the strong performance of the US dollar during the holidays. However, PEPE emerged as the most valuable player (MVP) today as it broke away from the trend of the larger capped tokens.

Analysts were quick to point the finger at Musk for the token’s sudden resurgence. Visiting his social media profile, it is undoubtedly clear that he is the culprit to the ongoing PEPE frenzy.

For some reason, the billionaire American entrepreneur had been populating his feeds with frog-themed memes that bear a striking resemblance to PEPE’s iconic logo. Further building up the hype for the meme coin was his change of profile name to “Kekius Maximus,” which is accompanied by a gladiator-costumed frog holding a video game console controller.