6.9T PEPE Burn Propels Token Over SHIB and DOGE in BTC ETF Ignited Crypto Race
Top memecoins catch the BlackRock BTC ETF-infused rally.
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 WalletToday, 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 MattersMemecoins often bring crypto into the spotlight across social media platforms.