Pepe (PEPE) Shaken by Suspicious Movements in Contract Addresses
Pepe (PEPE), one of the most popular meme coins recently, has been hit by suspicious movements in contract addresses. The crypto community has raised concerns and there are allegations of a possible rug pull. Here are the key points to consider:
- Pepe has gained significant hype as a meme coin, with some early traders making massive gains.
- Community members allege that the multisignature wallet threshold on Pepe has been changed from five signatures to two.
- According to on-chain sleuth ZachXBT, the developers have sent around $15 million worth of tokens to an externally owned account (EOA), which then sent the funds to various exchanges.
- The lack of official statements from the Pepe team has added to concerns.
- The price of Pepe has dropped by over 20% in the past 24 hours, leading to speculations of panic selling.
Fears of Rug Pull
Meme coins have a history of rug pulls, and the community is now alleging the same for Pepe. Recent incidents, such as the $6.5 million rug pull by Magnate Finance on the Coinbase Base network, have further fueled concerns. Investors should exercise caution due to the allegations and expect increased volatility in the Pepe meme coin.
Hot Take: Proceed with Caution and Stay Informed
With the suspicious movements in Pepe’s contract addresses and allegations of a possible rug pull, it is essential for crypto investors to be cautious. Stay updated on any official statements from the Pepe team and closely monitor the market conditions. As always, do thorough research and make informed decisions before investing in any cryptocurrency.
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