Pepe Coin: Analyst Warns As PEPE Takes Center Stage Amid Allegations

Pepe Coin has garnered attention once more, but this time, the focus is on its recent negative performance. Over the last seven days, the coin has encountered a notable decline of 22%. Currently, PEPE is trading at $0.000000902002, reflecting a surge of 3% in value within the last 24 hours.

Former team members of Pepe Coin are facing allegations of theft from the project wallet, leading to a significant blow to the coin’s reputation. The crypto intelligence platform Santiment has noted the importance of this development in the broader crypto context in a recent tweet, noting that PEPE has swiftly risen to become the most talked-about crypto topic over the weekend.

Pepe Coin Rug pull fear surface

Investor concerns have been ignited by the recent movement of PEPE, resulting in a price decline and a spotlight on worrisome activities occurring within the project’s multi-sig wallet. The transfer of over 16 trillion PEPE to addresses associated with Binance, OKX, and Bybit has raised eyebrows. Specifically, a detailed report reveals that a sum of $8.2 million worth of PEPE was sent to OKX. Additionally, Binance received $6.5 million and Bybit received $434,000.

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An additional $400,000 was directed to an unidentified wallet owner. The total movement involved approximately 16 trillion PEPE, accounting for roughly 3.8% of the total token supply.