In the wake of the meme token’s meteoric ascent, pepe (PEPE) has plummeted by over 17% in the last 24 hours. Buzz on social media suggests a significant amount of funds held by the development team are being transferred to exchanges. Moreover, alterations have been made to the team’s multi-signature wallet.
Meme Token PEPE Tumbles: Wallet Alterations and Big Moves Ignite Suspicions
Doubts loom over the pepe (PEPE) meme token project amid chatter about hefty sums of PEPE shifting to centralized exchanges. On Thursday, onchain experts from Lookonchain pointed out, “[Four] hours ago, [the] Pepe multisig wallet and Wintermute Trading deposited 17.3T PEPE ($18M) to exchanges. [Three] hours ago, an early buyer of PEPE dumped 1.88T PEPE for 1,010 ETH ($1.68M) on a [decentralized exchange].”
Fast forward to August 25, 2023, Lookonchain delved deeper, revealing that a crypto whale splurged 320 ether on a whopping 640 billion PEPE just three hours prior to the post. Intriguingly, this sa
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