PEPE Outpaces SHIB, DOGE as 6.9T PEPE Burn Tests Dominance

  • Top memecoins catch the BlackRock BTC ETF-infused rally.
  • PEPE developers burn $6,000,000 PEPE on Ethereum PoS.
  • Memecoin frenzy escalates with SHIB, DOGE, and FLOKI soaring.

The groundbreaking news of BlackRock’s ETF getting a unique identification number for NASDAQ listing has sparked a tremendous bull run for Bitcoin and other cryptocurrency assets.

Pepe (PEPE), an otherwise fading frog-themed memecoin, which dropped out of the TOP 100 by global market capitalization in recent months, stormed back with 32.6% gains in the last 24 hours.

As Bitcoin topped the yearly high of $35,000 at 5 AM on Tuesday, all popular memecoins tagged along with the bullish wave. DogeCoin (DOGE) exhibited a dual bullish divergence on the daily charts: reaching $0.069, facing market correction to $0.065, and then hopping back on the bullish trend.

DogeCoin, the largest Proof-of-Work (PoW) blockchain besides BTC, is one of the five popular memecoins influenced by Bitcoin’s $35K run. Shiba Inu (SHIB) also gained 5.9% to trade at $0.00000765, following a similar dual pattern to DOGE.

Finally, smaller-cap memecoins like Floki (FLOKI) and Baby DogeCoin (BABYDOGE) also recorded 47% and 15% gains since last week. However, since late Sunday, the frog-embossed PEPE jumped past FLOKI with an accrued 131 million to its market cap.

PEPE Devs Torch 6.9T PEPE from Multi-Sig Wallet

Today, the newcomer memecoin PEPE catapulted to restore the $0.000001 confluent resistance, last seen on August 21st. Skepticism over PEPE grew at that time due to high price fluctuations and a $16M withdrawal.

However, things look different now: the previously laconic developers announced, “A new team of advisors have been brought on to guide Pepe forward.” In addition, PEPE devs announced a colossal burn of 6.9 trillion $PEPE tokens from the CEX multi-sig wallet.

This sums up to $6,000,000 worth of the caecilian coin put out of circulation. PEPE’s makeover is also evident in the developers set up a brand new Telegram account, Enter Pepe, which only consists of 1,449 subscribers at the time of publication.

On The Flipside

  • Pepe’s price movement has proven to be extremely volatile, with extreme ups and downs since its emergence.
  • The PEPE community was enraged by the devs taking out $16M of liquidity in August, causing a massive price plunge.

Why This Matters

Memecoins often bring crypto into the spotlight across social media platforms.

Explore DailyCoin’s trending crypto news:
TON Space’s Crypto Wallet to Go Live on Telegram in November
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