Elon Musk, the tech mogul and avid internet meme aficionado, seems to have discovered a new digital currency to support: PEPE, the frog-themed cryptocurrency. A recent post on Musk’s X (formerly known as Twitter) feed showcased PEPE, piquing the interest of his vast follower base. The image displayed on the post included the following captions:

“The first amendment is for sharing memes with frens. The second amendment is for when they try and stop me from sharing memes with frens.”

Following Musk’s endorsement, the value of the meme-based digital coin surged by a significant 23%. However, by the end of the day, the coin experienced a 12% decline, trading at $0.000009257