Deflationary Meme Currency Pepe Coin Embroiled in Controversy
– Approximately 400 billion PEPE tokens have been divested by individuals with privileged access.
– On-chain analyst Yazan calls on cryptocurrency trading platforms to take action against alleged insider trading.
– 16 trillion Pepe tokens, valued at $15 million, were illicitly transferred to crypto exchanges before being sold.
– Former Pepe Coin marketer Jeremy “Pauly” Cahen accuses the team of engaging in insider trading and reveals their identities and wallet transactions.
– The team holds 16-17 million PEPE coins across nine different insider wallets and strategically offloads tokens from a controlled exchange wallet.
Hot Take
The controversy surrounding Pepe Coin reveals the potential risks of investing in meme currencies. The allegations of token theft and insider trading raise concerns about trust and transparency within the crypto community. It is crucial for trading platforms to investigate these claims and take proactive measures to ensure the integrity of the market. Investors should be cautious when considering meme currencies without a clear and reputable team behind them.
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