PEPE 'Frenzy'! What's Going On?

<p>&nbsp;Pepe's cryptocurrency developer team recently added 418.4 billion PEPE tokens worth $0.50 million, as reported by on-chain analytics firm Spotonchain. It was also confirmed by Pepe's official X account, the tokens were sent to Binance-earn to reward users. "We will distribute rewards for future campaigns," informed the Pepe community.</p><p><br /></p><p>It is worth noting that this transfer took place at a time when the Pepe cryptocurrency was trying to get out of the correction phase.</p><p><br /></p><p>On October 24, 2023, the Pepe coin developer team has taken a significant step of burning PEPE tokens. A total of 6.90 trillion PEPE tokens equivalent to $7.01 million were transferred for burning purposes.</p><p><br /></p><p><br /></p><p>Based on existing reports, PEPE developer members still hold 3.80 trillion PEPE tokens which is about $4 million. This made PEPE jump over 30% on the same day, breaking through the resistance level and reaching a new monthly high of $0.00000134.</p><p><br /></p><p>In the meantime, there are indications that they have sold more than 169.8 billion PEPE tokens with a value of $0.20 million on October 27 at a price of $0.000001₅.</p><p><br /></p><p>It should be noted that the latest price increase is not only about burning and large deposits, but also events related to the festival. The Pepe community together with famous companies like Ledger celebrated “Pepe Day” on Monday.</p><p><br /></p><p>At the time of writing, Pepe's cryptocurrency price is at $0.000001196 , with an increase of 5.37% in the last 24 hours, while the one-day trading volume jumped 103% to $103.84 million.</p>