PEPE, a cryptocurrency with a frog-themed branding, has experienced a significant surge in the past 24 hours. Within this timeframe, PEPE’s price has increased by a remarkable 32.16%, reaching $0.0000009746 at the time of writing.
Over the course of the last week, PEPE has gained an impressive 46.65%. This surge is accompanied by a notable 213% increase in the token’s 24-hour trading volumes.
PEPE, a cryptocurrency with frog-themed branding, has seen a substantial surge in its 24-hour trading volumes, registering an impressive 213% increase, with approximately $407 million traded during this period.
🪄🐶🐸 #Memecoins are on traders' minds as #altcoins enjoy the benefits of #Bitcoin redistributing as it climbs to $31K. Over the past week, $PEPE (+16%), $ELON (+57%), and $BITCOIN (+36%) are climbing as their supplies move in different directions. https://t.co/mO5kYhUkZC pic.twitter.com/3qfa8V5zg4
— Santiment (@santimentfeed) October 23, 2023
According to on-chain analytics firm Santiment, meme coins are regaining popularity among traders, as funds are redistributed in the altcoin market amidst Bitcoin’s rise. PEPE has emerged as one of the top gainers in the recent altcoin breakout, as highlighted by Santiment.
This surge in PEPE’s value may be attributed to recent efforts to reduce its total supply through token burning and other developments. The PEPE team announced that they had burned approximately 6.9 trillion PEPE tokens, valued at around $6,000,000.
In the past, there was considerable attention on the transfer of 16 trillion PEPE tokens to exchanges in August. Subsequently, Pepe moved the remaining 10.69 trillion PEPE to an address outside its initial multi-sig wallet. Following the burning of 6.9 trillion PEPE tokens, the PEPE team currently holds 3.79 trillion PEPE, valued at $3.72 million.
The PEPE team shared via Twitter that they have added a new group of advisors to guide the project’s future. They are exploring potential partnerships and marketing opportunities with the 3.79 trillion tokens assigned to the original team’s CEX multi-sig wallet. The team assured the community that they would provide updates on any future token burns, movements, or utilization.
PEPE also cautioned its holders to remain vigilant, as there may be imposters and bad actors claiming to be members of the PEPE team or advisors on platforms like Twitter or Telegram. PEPE emphasized that they do not offer giveaways, staking, or rewards that require users to click links, connect their wallets, or sign up for services. Users are advised to exercise caution and protect their assets accordingly.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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