The post Pepe (PEPE) Surges 27% as Meme Coins Thrive in New Bull Run appeared on BitcoinEthereumNews.com.

Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. PEPE, a frog-themed cryptocurrency, has risen dramatically in the past 24 hours. Pepe was up 32.16% in the last 24 hours to $0.0000009746 at the time of writing and gained 46.65% over the last seven days. The crypto token has seen a 213% increase in 24-hour trading volumes, with $407 million traded within this period. According to on-chain analytics firm Santiment, meme coins are returning to traders’ minds as altcoins gain from fund redistribution as Bitcoin rises. PEPE was among the top gainers in the most recent altcoin breakout, according to Santiment. Bullish catalysts for PEPE’s rise may have emerged as a result of the latest attempt to reduce the total PEPE supply through burning, among other developments. The PEPE team recently tweeted that 6.9 trillion PEPE tokens worth roughly $6,000,000 had been burned. Following the transfer of 16 trillion PEPE tokens to exchanges in August, which drew a lot of attention, Pepe relocated the remaining 10.69 trillion PEPE to an address outside of its initial multi-sig wallet. Thus, after burning 6.9 trillion PEPE, the PEPE team now owns 3.79 trillion PEPE, valued at $3.72 million. PEPE stated in a tweet to its community that a new team of advisors had been brought on to take Pepe forward. The remaining 3.79 trillion tokens assigned to the original team’s CEX multi-sig wallet are…

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Filed under: News - @ October 25, 2023 10:26 pm