TL;DR
Memecoin PEPE surged nearly 50% in a week.
PEPE burned 6.9 trillion tokens, likely contributing to its value increase, contrasting with Shiba Inu’s modest price rise post-burn.
Anticipation of BlackRock’s BTC ETF approval in the US possibly influenced the crypto market’s rally.
The Massive Burn
Pepe Coin (PEPE), a memecoin that turned into a sensation earlier this year, has recently headed north again, hinting that the hype surrounding it has not completely evaporated. The asset has soared a whopping 33% for the past 24 hours (per CoinGecko’s data) and almost 50% on a weekly basis.
PEPE Price, Source: CoinGecko
One reason behind the impressive price performance could be the burning program adopted by the memecoin project. The team behind PEPE announced on X (Twitter) that 6.9 trillion tokens (equaling $6 million at current rates) had been sent to an address that nobody could access.
Such burning mechanisms aim to make certain digital assets more scarce and potential
We współpracy z: https://cryptopotato.com/heres-why-pepe-skyrocketed-over-30-today/
