“Recent Developments in the Pepe Coin Ecosystem“
The developer team of Pepe Coin recently added 418.4 billion PEPE tokens worth $0.50 million to reward users on Binance-earn. This transfer came during a consolidation phase for the Pepe coin, which had been struggling to break out.
On October 24, 2023, the Pepe coin dev team executed a significant burn of PEPE tokens, transferring 6.90 trillion PEPE tokens to the burn address, equivalent to $7.01 million. The team still retains 3.80 trillion PEPE tokens, valued at around $4 million. This caused PEPE to rally over 30% on the same day, reaching a new monthly high of $0.00000134.
Additionally, the team sold over 169.8 billion PEPE for $0.20 million on October 27 at $0.0000015. However, the rally cooled down afterward.
“Pepe Community Celebrates #FREEPEPE Day“
The Pepe community, along with firms like Ledger, celebrated “free Pepe Day” in response to the three-year absence of Pepe from the GIF-sharing platform GIPHY. GIPHY’s decision to censor and remove Pepe from its directory sparked the movement, with the community emphasizing that Pepe is a globally recognized and cherished meme that should not be limited on platforms that celebrate free expression.
“Hot Take: Pepe Coin’s Latest Developments“
The recent developments in the Pepe coin ecosystem, including significant token burns, massive token transfers, and the “free Pepe Day” celebration, have caused fluctuations in the coin’s price. These developments have been met with enthusiasm from the community and have even led to collaborations with companies like Ledger. Despite bearish on-chain and technical signals, the Pepe coin price has surged over the past 24 hours, reaching $0.000001198 with a 4.73% increase. It is important to do thorough market research before investing in cryptocurrencies, as the market conditions can be volatile.
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