**Three Major Drivers Behind PEPE Price Rise**

PEPE, as a popular token, has recently attracted considerable market attention. Its price performance is influenced by multiple factors, warranting in-depth analysis.

**The Dilemma of Large Supply**

Currently, PEPE's circulating supply has reached 420.69 trillion tokens, a scale that is uncommon in the crypto market. The enormous supply directly constrains the token's price increase because the same buying pressure is spread across so many tokens, naturally limiting the price growth of each individual token. This is a fundamental challenge faced by PEPE.

**Potential of the Burn Mechanism**

Reducing supply through token burning is a common method to optimize price. Assuming PEPE achieves a 99% burn target, the circulating supply would decrease to 4.2 trillion tokens. Although this number is still large, a significant contraction in supply can markedly improve the token's scarcity. From an economic perspective, increased scarcity directly supports upward price potential.

**Resonance with Macro Cycles**

Once leading cryptocurrencies like Bitcoin and Ethereum enter a strong upward cycle, popular tokens like PEPE often gain increased market attention, leading to correlated price rises. In a bull market environment, risk appetite rises, and meme tokens tend to attract more capital.

Overall, PEPE's long-term performance depends on the progress of supply optimization and the macro cycle position of the crypto market.