Pepe Coin Soars As Devs Deposits Over 400 Bln PEPE To Binance
Release: 2023/11/20 17:01 Reading: 934
According to Spotonchain, the team of developers responsible for Pepe coin has added 418.4 billion PEPE tokens, valued at $0.50 million. Pepe's official X account confirmed that the tokens were sent to Binance-earn for user rewards. The Pepe community stated that they will distribute these rewards to those who participate in future campaigns.
The transfer occurred at a time when Pepe coin was facing difficulties in breaking the consolidation phase.
Recent Developments in the Pepe Coin Ecosystem
On October 24, 2023, the development team of Pepe coin carried out a substantial burning of PEPE tokens. They transferred an impressive amount of 6.90 trillion PEPE tokens, which is valued at $7.01 million, to the burn address.
Based on reports, the team is said to still possess 3.80 trillion PEPE tokens, which are estimated to be worth around $4 million. As a result, the value of PEPE surged by more than 30% on the same day, surpassing resistance levels and reaching a new monthly peak of $0.00000134.
In addition, the team's monthly report revealed that they managed to sell more than 169.8 billion PEPE tokens on October 27th, generating revenue of $0.20 million at a rate of $0.0000015 per token. However, the initial excitement and momentum behind the project gradually subsided.
Also read: Whale Moves 25 Mln XRP As Community Initiatives Drive Price Surge
Pepe Community Celebrates #FREEPEPE Day
The excitement revolves not only around burning and accumulating massive deposits, but also around a grand celebration day. The Pepe community, in collaboration with renowned companies like Ledger, commemorates "Free Pepe Day" on Mondays.
The campaign seeks to tackle the three-year absence of Pepe, the cherished meme, from the popular GIF-sharing platform GIPHY. Three years ago, GIPHY made the contentious choice to censor and eliminate Pepe from its comprehensive GIF collection, creating a noticeable gap for users looking for readily accessible Pepe gifs.
The community emphasized in their statement that Pepe is Love and Art, and they believe that the censorship is unjustified. They argue that as a globally recognized and cherished meme, Pepe should not be restricted on platforms that promote free expression.
To further bolster the occasion, Ledger, a hardware wallet manufacturer, has confirmed that they will be soon unveiling a limited edition Pepe Ledger Nano in collaboration with one of the renowned Pepe artists.
All the positive things in one day made the price jump over 6%. The Pepe coin price correlation with Bitcoin stands at 0.75, which is considered as good. However, the on-chain signals as well as technical signals are both bearish.
During writing, the Pepe Coin price was trading at $0.000001198, with a 4.73% surge over the past 24 hours, while its one-day volume soared 97.21% to $98.9 million.
Also Read: Breaking: OpenAI Turns To Ex-Twitch CEO Emmett Shear Post Altman’s Exit
The post Pepe Coin Soars As Devs Deposits Over 400 Bln PEPE To Binance appeared first on CoinGape.
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