#PEPE — Burn progress exceeds 70%, exchange reserves hit a historic low, supply tightening enters countdown

The supply tightening of PEPE's smoke and ash is not just a slogan, it is real gold burning. As of April, the originally planned $500 million burn program has completed over 70%, with approximately $350 million market value of PEPE permanently destroyed. On-chain data shows that PEPE balances on exchanges have fallen to the lowest point in history, a decrease of over 40% since the beginning of the year. Meanwhile, whale addresses holding over 10 billion tokens have increased by 17 in the past month, accumulating an additional over 8 trillion PEPE. The price has been ranging around 0.0000034 for nearly two months, with volatility compressed to the extreme—this is a typical "spring compression" structure. Once the ETF makes progress or the burn reaches 100%, the direction could be one-sided. Small funds seek high elasticity; PEPE is like a lottery ticket in many people's accounts. Have you bought it?