<![CDATA[<figure class="image"><img src="https://cimg.co/news/126810/334850/pepe.jpg" srcset="https://cimg.co/news/126810/334850/responsive-images/pepe___media_library_original_1793_732.jpg 1793w, https://cimg.co/news/126810/334850/responsive-images/pepe___media_library_original_1200_490.jpg 1200w, https://cimg.co/news/126810/334850/responsive-images/pepe___media_library_original_900_367.jpg 900w, https://cimg.co/news/126810/334850/responsive-images/pepe___media_library_original_720_294.jpg 720w, https://cimg.co/news/126810/334850/responsive-images/pepe___media_library_original_600_245.jpg 600w, https://cimg.co/news/126810/334850/responsive-images/pepe___media_library_original_300_122.jpg 300w" width="1793" class="content-img" alt=""><figcaption>PEPE Chart / TradingView</figcaption></figure>The team behind 2023&rsquo;s most successful meme coin Pepe Coin (PEPE) just burnt tokens worth around $6 million, sending the PEPE price pumping more than 30% on Monday.<figure class="media"><oembed url="https://twitter.com/pepecoineth/status/1716605819855454242?s=20"></oembed></figure>As per an announcement made on Pepe&rsquo;s official X account, the team burnt 6.9 trillion tokens, as is verifiable via Ethereum blockchain scanning website <a href="https://t.co/rIpXZC8CDJ">Etherscan</a>.&ldquo;A new team of advisors have been brought on to guide Pepe forward,&rdquo; the tweet read, adding that &ldquo;uses for the remaining 3.79T tokens attributed to the original team CEX multi-sig wallet for strategic partnerships and marketing opportunities are currently being explored&rdquo;.PEPE was last trading close to $0.0000010 per token, up close to 30% on the week, with the token also benefiting amid <a href="https://cryptonews.com/news/bitcoin-price-breakout-at-35000-heralds-start-of-biggest-bull-run-ever-as-bitcoin-minetrix-blasts-past-2-million-2000x-incoming.htm">a Bitcoin-led rise</a> in the broader market amid <a href="https://cryptonews.com/news/spot-bitcoin-etf-hype-rally-weekly-inflows-66-million-investors-remain-bullish-solana-report.htm">optimism about expected near-term spot Bitcoin ETF approvals in the US</a>.The token&rsquo;s market cap was last around $377 million, making it the third largest meme coin by market capitalization.In wake of the latest pump and amid the arrival of a new team to guide the project forward, Pepe Coin price predictions are likely to have turned much more bullish.<h2 id="strong-price-prediction-where-next-for-pepe-coin-pepe-strong">Price Prediction &ndash; Where Next for Pepe Coin (PEPE)?</h2>The Pepe project&rsquo;s latest token burn and shift of leadership comes after rogue <a href="https://cryptonews.com/news/pepe-coin-price-prediction-as-pepe-slumps-15-amid-fud-over-strange-multisig-changes.htm">developers made off with millions of dollars&rsquo; worth of PEPE tokens out of the project&rsquo;s main multi-signature wallet</a> back in August, which caused a token price crash at the time.The fact that the team only has 3.79 trillion tokens remaining (worth about $3.8 million) should ease concerns about more tokens being stolen and dumped on the market.Indeed, Pepe has seen 24-hour trading volumes of over $460 million as per <a href="https://www.coingecko.com/en/coins/pepe">CoinGecko</a>, so even if the team&rsquo;s remaining $3.8 million worth of tokens was stolen, the market should be able to easily absorb this supply.That bodes well for the token&rsquo;s near-term price performance, with Pepe likely to also continue rallying in tandem with the broader crypto market.Technicals are also going strongly in PEPE&rsquo;s favor.The cryptocurrency broke above a downtrend that has been in play going all the way back to July on Monday.If it can also get above its 100DMA at $0.00000094, then the door is open for a near 2x rally back to the summer highs in the $0.19 area.<figure class="image"><img src="https://cimg.co/news/126810/334851/pepe.jpg" srcset="" width="" class="content-img" alt=""></figure><h2 id="strong-can-pepe-coin-pepe-reach-1-strong">Can Pepe Coin (PEPE) Reach $1?</h2>With the broader market pumping, Pepe could be in the early stages of a new bull market.Could the token ever reach as high as $1?Well, seeing as there are 4.2 quadrillion tokens (that&rsquo;s right, 4.2 thousand trillion), a token price of $1 means the market cap would have to reach $4.2 quadrillion for a $1 token price to be achieved.This is a market cap that is exponentially higher than the market capitalization of the world&rsquo;s entire real estate, stock and government debt markets, let alone the crypto market.So its not feasible.But that doesn&rsquo;t mean Pepe can&rsquo;t reclaim the status it held for a short period of time as being a meme coin worth more than $1 billion.<h2 id="strong-crypto-alternatives-to-consider-strong">Crypto Alternatives to Consider</h2>Things are looking good for Pepe Coin (PEPE).But for those looking for an even better probability of near-term gains, an alternative high-risk, high-reward investment strategy to consider is getting involved in <a href="https://cryptonews.com/news/new-cryptocurrency.htm">crypto presales</a>.This is where investors buy the tokens of upstart crypto projects to help fund their development.These tokens are nearly always sold cheaply, and there is a long history of presales delivering huge exponential gains to early investors.Many of these projects have fantastic teams behind them and a great vision to deliver a revolutionary crypto application/platform.If an investor can identify such projects, the risk/reward of their presale investment is very good.The team at Cryptonews spends a lot of time combing through presale projects to help investors out.Here is a list of 15 of what the project deems as the best crypto presales of 2023.<a href="https://cryptonews.com/news/new-cryptocurrency.htm">See the 15 Cryptocurrencies</a>Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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Pepe Price Prediction as 6.9 Trillion PEPE Coins Are Burned – Can PEPE Reach $1?

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