PEPE Dominates SHIB and DOGE in Record-Breaking 6.9T Token Burn
PEPE, the memecoin that faced a prolonged slump from July 14 to October 3, has recently roared back to life.
It embarked on a fresh bullish rally on October 20, outperforming Shiba Inu (SHIB) and Dogecoin (DOGE) in a big way, despite their earlier dominance in the meme coin space.
This resurgence has caught the attention of the cryptocurrency market, and here's what you need to know.
Bitcoin Sparks Market Uptrend
The primary driver behind PEPE's resurgence is Bitcoin (BTC). Bitcoin surpassed the $35,000 mark, creating a positive ripple effect throughout the market.
This uptrend is largely attributed to the anticipation of a spot Bitcoin exchange-traded fund (ETF) approval, which could potentially inject significant capital into the cryptocurrency space.
PEPE's Token Burn and New Advisors
A significant development within the PEPE community is the announcement of a record-breaking token burn.
The PEPE development team shared on X (formerly Twitter) that approximately 6.9 trillion $PEPE tokens, equivalent to around $6,000,000, have been burned.
Moreover, the project has brought in new advisors to provide guidance for PEPE's future.
The remaining 3.79 trillion tokens, held in the Centralized Exchange (CEX) multi-sig wallet, are earmarked for strategic partnerships and marketing efforts.
PEPE's Price Surge
In recent market data, PEPE stands out with an impressive price surge.
The coin is currently valued at US$0.000000930549, with a 24-hour trading volume of $455,035,042.79.
Over the last 24 hours, PEPE has seen a remarkable price increase of 25.83%.
Over the past 7 days, the increase is even more striking at 43.63%.
These numbers have resulted in a market capitalisation of $398,014,904 for PEPE, with a circulating supply of 420 billion tokens.
Comparing SHIB and DOGE
For perspective, Shiba Inu (SHIB) currently trades at $0.00000739, with a 24-hour trading volume of $314,695,140.13. In the past 24 hours, SHIB has experienced a price increase of 2.72%, and over the past 7 days, it rose by 6.04%.
SHIB's market capitalisation sits at US$4,348,847,496, with a circulating supply of 590 billion SHIB tokens.
On the other hand, Dogecoin (DOGE) is trading at $0.065989, with a 24-hour trading volume of $1,064,277,555.26.
DOGE has seen a 3.02% price increase in the last 24 hours and an 11.02% increase over the past 7 days.
Dogecoin boasts a market capitalisation of US$9,327,269,145, with a circulating supply of 140 billion DOGE tokens.
More news about pepe token
- Nov 26, 2023 12:56 pmSmart money addresses bought SNX, PEPE, BLUR and other tokens in the past 24 hoursNansen data shows that the tokens purchased by Smart Money addresses in the past 24 hours include SNX (the amount reached US$1,433,088 in 24H), PEPE (the amount reached US$357,132 in 24H), sfrxETH (the amount reached US$264,538 in 24H), WETH (the amount reached US$264,538 in 24H) Amount reached US$250,771), RLB (amount reached US$222,017 in 24H), BLUR (amount reached US$197,980 in 24H), wstETH (amount reached US$155,352 in 24H), SIPHER (amount reached US$96,454 in 24H), FLC (amount reached US$87,589 in 24H) , Bean (amount of 24H USD 82,814).
- Nov 03, 2023 4:34 pmWhale Spends 617 ETH on 996 Billion PEPE Tokens and Trades Two Other TokensAccording to Foresight News, a whale has spent 617 ETH (approximately $1.11 million) to purchase 996 billion PEPE tokens in the past two days. The whale has also traded two other tokens this year, spending 2,039 ETH (about $3.75 million) to buy 3.26 million ARB tokens at a price of $1.15 each. The whale later sold the ARB tokens at a price of $0.75 each, resulting in a loss of about 456 ETH (approximately $1.3 million).In another transaction, the whale spent 1,348 ETH (about $2.19 million) to buy 1,884 MKR tokens at a price of $11.64 million. The whale then sold the MKR tokens at a price of $1,389 each, earning a profit of 269 ETH (approximately $423,000).
- Nov 01, 2023 1:53 pmTwitter User Sells PEPE Tokens for $2.19 Million, Buys RLB Tokens for $2.22 MillionAccording to Foresight News, Twitter user 9x9x9 sold 1.89 trillion PEPE tokens for 1,233 ETH, approximately $2.19 million, on October 28. Within five days, the user earned 381 ETH, about $746,000. Later, on October 30, the user spent 1,230 ETH, around $2.22 million, to purchase 112.8 million RLB tokens at a price of $0.197 per token.
- Oct 27, 2023 1:17 pmMeme Project Pepe Converts 169 Billion Tokens to USDT for Strategic PartnershipsAccording to Foresight News, Meme project Pepe has announced the conversion of approximately 169 billion PEPE tokens, worth around $200,000, from the team's wallet to USDT. The funds will be used to pay for strategic partnership and integration costs that will be announced in the coming weeks. Previously, Foresight News reported that on October 24, the PEPE team destroyed 6.9 trillion PEPE tokens, valued at approximately $6.76 million. The last time the PEPE team transferred 160 trillion PEPE tokens, worth around $15 million, to four CEXs for sale, the remaining 10.69 trillion PEPE tokens were moved to the current 0x9f5 address. After the destruction of 6.9 trillion PEPE tokens, the PEPE team's wallet still holds 379 million PEPE tokens, valued at approximately $3.72 million.
- Oct 25, 2023 9:59 pmPepe Memecoin Rises 31% Following $5.5 Million Token BurnAccording to CoinDesk, the pepe memecoin (PEPE) has risen by 31% in the past 24 hours, following a 6.9 trillion ($5.5 million) token burn. The burn has permanently removed tokens from supply, sending them to an address not controlled by anyone. The frog-themed memecoin is now trading at a two-month high, as the burn has eased concerns over the team's token holdings. The team now holds 3.79 trillion tokens ($3.72 million), which would have minimal impact if sold on the open market, as 24-hour trading volume has surged to $397 million, according to CoinMarketCap.A new team of advisors has been brought on to guide Pepe forward, as stated in a post on the pepe X (formerly Twitter) account. The remaining 3.79 trillion tokens attributed to the original team CEX multi-sig wallet are being explored for strategic partnerships and marketing opportunities. The decision to burn tokens came after a few rogue pepe developers executed unexpected transfers out of the project's multisignature wallet, effectively stealing millions of dollars worth of pepe, as alleged by a team member. The tokens burned equate to 1.6% of the memecoin's total supply. The rise in PEPE coincided with bitcoin rallying to a 17-month high of $35,000, fueled by optimism around the potential approval of a spot exchange-traded fund (ETF). Bitcoin dominance is at its highest point since April 2021, with the original cryptocurrency outpacing the majority of altcoins aside from pepe.
- Oct 24, 2023 7:13 pmPepe Memecoin Rises 31% After $5.5 Million Token BurnAccording to CoinDesk, the pepe memecoin [PEPE] experienced a 31% increase in value over the past 24 hours, following a 6.9 trillion ($5.5 million) token burn. The burn, which permanently removes tokens from supply, has led to the popular frog-themed memecoin trading at a two-month high. The pepe team now holds 3.79 trillion tokens ($3.72 million), which would have minimal impact if sold on the open market as 24-hour trading volume has surged to $397 million, according to CoinMarketCap.A new team of advisors has been brought on to guide Pepe forward, with potential uses for the remaining 3.79 trillion tokens being explored. The decision to burn tokens came after a series of unexpected transfers out of the project's multisignature wallet by rogue pepe developers, effectively stealing millions of dollars worth of pepe, as alleged by a team member. The tokens burned equate to 1.6% of the memecoin's total supply.The rise in PEPE coincided with bitcoin rallying to a 17-month high of $35,000, fueled by optimism around the potential approval of a spot exchange-traded fund (ETF). Bitcoin dominance is at its highest point since April 2021, with the original cryptocurrency outpacing the majority of altcoins aside from pepe.
- Oct 24, 2023 8:35 amPEPE Team Destroys 6.9 Trillion Tokens Worth $676 MillionAccording to Foresight News, about an hour ago, the PEPE team destroyed 6.9 trillion PEPE tokens, worth approximately $676 million. Previously, on August 25th, the team had sold 160 trillion PEPE tokens, valued at around $15 million, to four CEXs. The remaining 10.69 trillion PEPE tokens were then transferred to the current 0x9f5 address. After the destruction of the 6.9 trillion PEPE tokens, the PEPE team's address now holds 379 million PEPE tokens, worth approximately $3.72 million.
- Oct 23, 2023 5:45 pmWhale Trader 9x9x9 Sells 2.36 Million SUSHI Tokens and Buys PEPEAccording to Foresight News, Lookonchain has reported that whale trader 9x9x9 (@9x9x9eth) has sold 2.36 million SUSHI tokens and purchased PEPE. 9x9x9 stated that their losses on SUSHI, including those from exchange purchases, have exceeded $30 million.
- Aug 26, 2023 3:10 pmPAULY: PEPE team wallet holds at least $16-17 million in tokensOdaily Planet Daily News The founder of PEPE, Pauly, who revealed the identity of the whistleblower, posted on the X platform (formerly Twitter) that the official PEPE team holds PEPE worth 16 million to 17 million (US dollars) in at least 9 internal wallets. According to the previous news, PEPE announced the truth of "multi-signature coin sale": 3 former members privately sold and then deleted the multi-signature permission. The remaining 10.6 trillion PEPEs are safe and have been transferred to the new address starting with 0x9f5E. Jeremy Cahen (PAULY), the founder of the NFT market Not Larva Labs, claimed that PEPE's official announcement of the "truth about multi-signature currency sales" is a complete lie, and said that he, Matt Furie and the entire community were deceived by the PEPE team. Pauly said yesterday that the true identity of the founder of PEPE is Zachary Testa who currently lives in Arizona. Zachary is active on social media with the accounts z (@degenharambe) and Lord Kek (@LordKekLol). Zachary Testa was born in 1997, graduated from Arizona State University in 2018, and is now a professional photographer. PAULY accused Zachary Testa and his team of making huge profits from PEPE (even buying a Lamborghini), but did not give anything back to Matt Furie, the creator of the original image of "Pepe the Frog". In addition, Pauly said that he helped the PEPE team contact the Binance listing team and the SushiSwap team, which enabled PEPE to list on Binance. Pauly also mentioned that Zachary Testa also had multiple record violations when taking photos in real life.
- Aug 04, 2022 9:44 pmPepePepe and Bitcoin both represent systems of value forged in stark opposition to the one surrounding them.
More news about pepe token
