Crypto Twitter responds with Pepe memes as Musk names new CEO

Crypto Twitter wasted no time in responding to Elon Musk's Friday announcement that he had named Linda Yaccarino as the new CEO of the social media platform and quickly flooded his replies with memes featuring Pepe the Frog.

Yaccarino, NBCUniversal’s head of advertising, will primarily focus on business operations, Musk said, adding that he would spend his time on product design and new technology.

"Looking forward to working with Linda to transform this platform into X, the everything app," he wrote on Twitter. Musk, who has served as CEO of the company since acquiring it last year, said yesterday that the new head would be starting in around six weeks. 

Twitter is the favored communication channel for the crypto industry, and Musk is known for moving the price of popular memecoins such as Dogecoin with a single tweet. Earlier this week, he sent the price of Milady NFTs skyrocketing after he tweeted a Milady meme.

Crypto Twitter has been full of pepe chatter this week as the memecoin that references the cartoon character surged earlier this month to hit a market cap of $1.8 billion before plummeting. It's fallen 24% today, with a market cap of $477 million, according to CoinMarketCap.

Crypto Twitter responds to Musk's CEO announcement with Pepe memes