The Pepecoin challenge workforce reported burning 6.9 trillion tokens price about $6 million.
In response to a press release at X (type.Twitter), the workforce explores the potential for utilizing the remaining 3.79 trillion PEPE for strategic partnerships and new advertising and marketing campaigns.
Details about the token burning was confirmed by the analytical platform Etherscan.
The PEPE token value responded to this information with development. It has risen 20% within the final 24 hours and is buying and selling at $0.0000008, in accordance with CoinGecko.
![Pepecoin team burns 6.9 trillion tokens, PEPE rises by 20% - 1](https://crypto.news/app/uploads/2023/10/pepe-chart.jpeg)
On the finish of August, the value of meme coin plummeted by 20%. The explanation for the autumn was the actions of former workforce members who withdrew 16 trillion tokens price about $15m from a multi-signature pockets and offered them on centralized exchanges.
After this, in September, simply a few weeks after the theft of tokens from the multisig pockets, attackers hacked a Telegram channel devoted to the hype meme coin. The channel administrator’s account fell into the palms of attackers who don’t have anything to do with PEPE.