What is the burn event in Pepecoin?

Specifically, 50% of PEPE's initial supply, equivalent to 210 trillion tokens, was permanently removed from circulation. This action was intended to create a sense of rarity and potentially drive up the value of the remaining tokens.

Despite this initial burn, the circulating and maximum supply of PEPE did not drop to half of its original amount. This was due to various factors, including the reintroduction of tokens into circulation and the minting of new tokens for rewards.

The ongoing burning of tokens also played a role in maintaining the supply at a certain level. Nevertheless, the maximum supply of PEPE has been fixed at 420 trillion tokens, ensuring that no more than this amount will ever be in existence.

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PEPE, a meme coin, underwent a significant event aimed at altering its supply dynamics. To reduce circulation and enhance scarcity, a substantial portion of its tokens was burned.