PEPE Trading Volume Plummets Amid Unauthorized Access
PEPE coin experienced a significant drop in trading volume after unauthorized access to its multisig wallet. The team reassured the community of token security and future plans.
- 16 trillion PEPE tokens, worth $15 million, were transferred to different exchanges
- One user currently holds 10 trillion tokens
- Internal conflicts among team members were cited as the cause of the unauthorized access
- A new PEPE token emerged, leading to a sell-off of the old coins
- New PEPE coin secured listings on major exchanges and gained significant trading volume
PEPE Denies Affiliation with New Coins
The official PEPE account communicated a temporary lockdown of the Telegram group and warned users about potential scams. They emphasized their non-affiliation with any new PEPE coin.
- The PEPE Telegram group was locked down due to a compromised account
- Users were directed to rely on the @pepecoineth Twitter account for official updates
- The team clarified that they had not sent any direct messages and warned against potential scams
PEPE Price Analysis and Concerns
The price of PEPE coin has been following a descending channel pattern, with a possibility of further depreciation. Trading volume also experienced a significant decline.
- The price could drop by 42% if it closes below the lower boundary of the descending channel
- A potential resistance level offers hope for upward movement
- Trading volume decreased by 42% in two days
Alternative to PEPE: SONIK Coin
SONIK coin, inspired by Sonic the Hedgehog, has gained attention in the meme coin sector. It offers staking opportunities and has a unique presale approach.
- SONIK aims for a $100 million market capitalization
- The presale is expected to have a short duration and has already sold over 15% of its allocation
- 40% of tokens have been allocated to staking, rewarding holders for safeguarding the network
- The presale continues until all designated tokens are sold
- The value of a single SONIK coin is $0.000014
Hot Take:
The unauthorized access to PEPE’s multisig wallet and the emergence of a new PEPE token have caused turmoil in the community. While the team reassures users of token security and future plans, the decline in trading volume and price erosion raise concerns about the future of PEPE. SONIK coin presents an alternative option for investors, with its unique presale approach and staking opportunities.
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