Pepe Coin Burns Through Meme Coin Competition With Massive 50% Monthly Surge
Portfolio Pulse from Khyathi Dalal
Pepe, a frog-based meme coin, has seen a 50% surge in the past month, making it the 83rd largest cryptocurrency with a market cap of $453.8 million. A whale has reportedly spent 617 ETH (around $1.11 million) to purchase 996 billion PEPE tokens in the past two days. The price surge coincided with a token burn event where developers burned $5.5 million worth of tokens, accounting for 6.9 trillion PEPE. However, Coin Edition reports that a price drop is likely in the upcoming few days based on technical analysis.
November 03, 2023 | 8:41 pm
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Pepe coin has seen a significant surge in price, driven by a large purchase by a whale and a token burn event. However, technical analysis suggests a price drop in the near future.
The price surge in Pepe coin is due to a combination of a large purchase by a whale and a token burn event, which reduces the supply of tokens and can drive up the price. However, technical analysis suggests that the price is likely to drop in the near future, which could negatively impact investors.
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