Pepe lost the trust of investors
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Pepe (PEPE) has once again attracted attention from the community, but this time, the focus is not on price increases but on “developer withdrawal drama.”
Former members of Pepe 's development team are facing accusations of stealing funds from the project's multi-signature wallet, resulting in Pepe's reputation being seriously affected.
After the sale, these people deleted all their social media accounts and disappeared.
Cryptocurrency analysis platform Santiment said the incident of Pepe being "withdrawn a large amount of Pepe from the project's multi-signature wallet" by its creators is unacceptable.
Santiment said Pepe's withdrawal has severely affected the project's reputation. Many investors said they were disappointed when they were deceived by the project's developer. Some say that they no longer believe in the project and have decided to sell off their Pepe holdings.
In the past 7 days, the meme has dropped 21%, currently trading at $0.000000868172.
Pepe quickly became the most talked about crypto topic over the weekend on X.
🐸 If you are riding the wave of #memecoins during these uncertain market conditions, #Pepecoin has quickly become the top trending #crypto topic this weekend. Former team members are accused of removing $16M. Expect even more high volatility than usual. app.santiment.net/dashboards/soc…
The transfer of over 16 trillion PEPE to addresses linked to Binance, OKX, and Bybit surprised many people. A report states that a large amount of PEPE worth $8.2 million has been sent to OKX for liquidation. In addition, Binance received 6.5 million USD PEPE and Bybit received 434,000 USD PEPE.
400,000 USD PEPE has been transferred to an unknown address. The total move involved 16 trillion PEPE, which is about 3.8% of the total supply.
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