Andrew Tate Burns 20 Million Moonpig Tokens, Price Jumps Sharply!

Jakarta, Pintu News – In a surprise move, Andrew Tate has burned 20 million Moonpig tokens he recently received from high-risk crypto trader James Wynn. The move not only showed Tate’s support for the project, but also managed to push the token’s price up significantly.

Token Burning by Andrew Tate

Andrew Tate, a well-known internet influencer, has burned 20 million Moonpig tokens worth $750,000. According to a post on X by the project, Tate transferred the tokens to the burn address, which constitutes 2% of the total supply. This burn occurred just 24 hours after Tate received the tokens from James Wynn, who had just suffered a huge loss in Bitcoin (BTC) trading.

The impact of this burning action was seen almost immediately, with Moonpig’s price jumping over 6% after a small correction. Currently, Moonpig is trading at $0.038, with daily trading volume increasing 35.7% from the previous day. Despite the increase, Moonpig’s price is still down 69% from its all-time high of $0.124 reached 11 days ago.

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Market Reaction to Token Burning

Token burns often trigger price increases for crypto projects as they signal long-term value while reducing supply. In the case of Moonpig, the market reacted positively to Andrew Tate’s move. This price increase pushed the market capitalization of the Solana (SOL) based memecoin to $37 million.

This suggests that token burns can serve as a catalyst to boost investor and speculator confidence in the project. Additionally, token burns by public figures like Tate often attract media attention and new investors, which can strengthen the token’s position within the crypto market. It also demonstrates commitment from large token holders to the health and future of the project.

James Wynn and His Support for Moonpig

James Wynn, known as a high-risk crypto trader, continues to support Moonpig very vocally on social media. Wynn claims that there are several reasons in favor of Moonpig’s long-term success, including the project’s age and listing on multiple exchanges. Impressive on-chain volumes and community growth are also contributing factors.

Wynn also emphasized that Moonpig is the only memecoin on Solana (SOL) that is organically community-driven. Although Wynn owns a significant amount of Moonpig tokens and plans to take profits as needed, his support of this token shows confidence in its growth potential.

Conclusion

Andrew Tate’s move in burning the Moonpig token has brought about a positive impact on the price and market perception of the token. With support from figures like James Wynn, Moonpig will probably continue to see growth in community and market value. Token burning, as a strategy to increase value, seems to have worked in this case, drawing more attention and investment into the project.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• Coingape. Andrew Tate Burns James Wynns 20M MoonPig Tokens, Price Reacts. Accessed on June 4, 2025
• Featured Image: Bitcoin News