The PEPE currency relies on a burn mechanism aimed at reducing the supply and increasing scarcity, which may positively affect its value over time.
🔥 Daily Burn Mechanism
Automatic burning with each transaction: A small percentage of coins is burned with every transaction that takes place on the network. Some sources indicate that the number of coins burned daily reaches thousands, contributing to a gradual reduction in supply.
Significant burns on specific occasions: On October 24, 2023, 6.9 trillion PEPE coins were burned, resulting in a 31% increase in its value within 24 hours.
📊 Impact of the Burn on Supply
Total Supply: At launch, the total supply was 420.69 trillion coins. 50% of this supply (about 210 trillion coins) was burned initially to reduce supply and increase scarcity.
Currently Circulating Supply: Despite the burns, the currently circulating supply is still around 420 trillion coins, due to the reintroduction of some burned coins or issuance of new coins as rewards.
📈 Importance of the Burn for Investors
The burn mechanism contributes to reducing supply, which may lead to an increase in the market value of the coin if demand continues or increases. This makes PEPE attractive to investors looking for digital currencies with a deflationary economic model.
If you want to follow daily burn operations or learn more about their impact on the price of PEPE, you can visit sites like CoinGecko or CoinMarketCap. Like and follow