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News Explorer — Memecoin Pepe Sets Fire to 6.9 Trillion Tokens, Pushing Price 32% Overnight

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Oct 24, 10:42 am
Coindesk

Memecoin Pepe Sets Fire to 6.9 Trillion Tokens, Pushing Price 32% Overnight

The popular frog-themed memecoin, Pepe, has seen a surge in trading as concerns over the team's token holdings were quelled by a burn. The token has risen 32% in the last 24 hours. Burning tokens permanently removes them from the supply by sending them to an address not controlled by anyone. The team now holds 3.79 trillion tokens, which would have minimal impact if sold on the open market due to high trading volume.

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