Tesla CEO Elon Musk’s tweets have once again impacted the cryptocurrency market. Peanut the Squirrel, a Solana memecoin inspired by a pet squirrel, surged after Musk’s rant about the government’s failure to release the alleged “Epstein list.” Musk’s online antics have previously sparked speculative cryptocurrency activity, with PNUT’s price spiking 5% after his recent post.

Musk’s advocacy of Dogecoin led to a 15,500% run to its all-time high of $0.73 in 2021. His online antics have raised market manipulation concerns, with a group of investors filing a lawsuit against Musk and Tesla for allegedly manipulating Dogecoin’s price. However, a federal judge dismissed the lawsuit, stating Musk’s statements were not factual.

Musk has cautioned against investing in memecoins, likening it to a casino. He emphasized that memecoins should be for fun, not as a serious investment. His remarks on memecoins were made during a podcast episode on the “Joe Rogan Experience.” Warren Buffett’s advice on making money while you sleep is also highlighted in the article.

Read more at Yahoo Finance: How Elon Musk Caused This Squirrel Memecoin To Spike With An Epstein Rant