Pepe (PEPE) Surges 27% as Meme Coins Thrive in New Bull Run

Oct 25, 2023 | Analysis, Frogs Memecoins, Memecoin News




Pepe (PEPE) Surges 27% as Meme Coins Thrive in New Bull Run

In the midst of a new cryptocurrency bull run, Pepe crypto, the frog-themed digital token, has witnessed a remarkable surge, posting gains of 32.16% in the last 24 hours, with a current price of $0.0000009746 at the time of reporting. Over the span of the past seven days, PEPE has surged by an impressive 46.65%.

One notable indicator of this fervent activity is the astonishing 213% increase in 24-hour trading volumes, with a total trading volume of $407 million within this timeframe.

Meme coins, including PEPE, are once again capturing the attention of traders, according to insights from on-chain analytics firm Santiment. As altcoins gain momentum due to a redistribution of funds amid Bitcoin’s upward trajectory, PEPE has been among the leading gainers in the recent altcoin resurgence.

Several factors may be contributing to this bullish sentiment surrounding PEPE, including efforts to reduce the overall supply of PEPE tokens through burning. The PEPE team recently announced that a significant amount of tokens had been burned, to be precise, 6.9 trillion PEPE tokens, equating to approximately $6,000,000.

This move follows a notable transfer of 16 trillion PEPE tokens to exchanges in August, which garnered considerable attention within the crypto community. Subsequently, Pepe executed a transfer of the remaining 10.69 trillion PEPE tokens to an address outside its initial multi-sig wallet. Following the successful burning of 6.9 trillion PEPE tokens, the PEPE team now holds 3.79 trillion PEPE, valued at $3.72 million. Additionally, the team has expanded its advisory group, signaling an intent to drive Pepe’s development forward.

The remaining 3.79 trillion tokens, assigned to the original team’s CEX multi-sig wallet, are actively being explored for potential partnerships and marketing opportunities. PEPE has pledged to provide regular updates to its community regarding future token burns, transfers, and their intended use.

In light of this surge in activity, PEPE has issued a warning to its token holders, urging vigilance and caution. The project has noted that there will likely be imposters and malicious actors claiming to be members of the PEPE team or new advisors on various communication channels. As a precautionary measure, PEPE emphasizes the importance of safeguarding assets and avoiding any unsolicited interactions. The project also makes it clear that it does not offer giveaways, staking programs, or rewards that would require users to click links, connect wallets, or provide personal information, assuring the community of their commitment to security.

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