Pepe Coin Price Analysis – What Next After 30% Surge and Could This New Meme Coin Pump Next

The meme coin market has seen renewed momentum over the past week, with Pepe’s (PEPE) 30% surge since Saturday being one of the most talked-about events.

This impressive growth has left traders wondering whether PEPE could continue rising and challenge the dominance of Shiba Inu (SHIB) and Dogecoin (DOGE).

Meanwhile, the new meme coin Meme Kombat (MK) continues to make exceptional progress in its presale phase, having raised $700,000 in its first month.

Token Burn Prompts Sharp PEPE Price Surge

PEPE has benefited from the sharp uptick in crypto investor sentiment, soaring to the crucial $0.0000010 level on Tuesday.

Although PEPE has since pulled back to $0.00000093, the token’s momentum remains positive, with many backers believing this is simply a minor correction before another upward leg.

PEPE’s positivity was prompted by the project’s developers burning $5.5 million worth of tokens from circulation, representing 6.9 trillion PEPE.

By permanently removing these tokens from the supply, the developers aimed to reassure investors following concerns raised in August about their multi-sig wallet holdings.

Now the team controls just 3.79 trillion PEPE, worth $3.7 million – a small portion of the total supply.

With PEPE’s 24-hour trading volume soaring to $270 million, any potential selling pressure from the team would have a minimal impact on price.

As such, this token burn has increased retail investor demand for PEPE, helping push its value higher.

PEPE Faces Uphill Battle to Maintain Value Without Increased Utility

Now that PEPE is trading at its highest point since August, investors are wondering if the meme coin can maintain its momentum.

The successful token burn has demonstrated the developers’ commitment to decentralization and boosted confidence, yet PEPE will require more utility or significant partnerships to sustain itself in the long term.

Currently, PEPE has no apparent use cases beyond speculative trading, meaning the token’s value i

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Author: BeInCrypto Team

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