• PEPE’s price dropped by 2% following the news of a hack.
• Though most metrics were bearish, whales’ confidence in PEPE remained high. 

Pepe [PEPE] has become one of the most popular meme coins as it has remained a trending topic of discussion in the crypto space. However, except for early growth, not many things have turned out to be in the meme coin’s favor in the recent past. 

Realistic or not, here’s PEPE’s market cap in BTC’s terms   

PEPE witnessed major setbacks as it fell victim to internal clashes and hacks, which raised questions regarding its reliability and legitimacy. Considering past events, PEPE’s declining price, and a lack of utility of sorts, will PEPE become a thing of history soon? 

PEPE falls victim to a hack

On 9 September, PEPE’s official X (formerly Twitter) handle revealed that its Telegram account had been compromised. After the hack, the account was being used to spread misinformation.

As per the official tweet, whoever has gained access to this account was using it to push scams, deceive people, and launch other coins.

❌❌ $PEPE Announcement❌❌

The old telegram for $PEPE is hacked and no longer in our control. The “lordkeklol” account has been compromised. Whoever has gained access to this account is using it to push scams and deceive people and launch other coins. This person is lying and… pic.twitter.com/jxlYwoSP1Q

— Pepe (@pepec

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Author: Dipayan Mitra

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