- PEPEs worth millions were stolen and sent to exchanges on 24 August.
- Whale accumulation increased, and PEPE’s price surged by 3% in the last 24 hours.
Pepe [PEPE] recently witnessed a massive dump, causing its price to tumble and sparking fear among investors. The memecoin’s official Twitter handle posted a tweet on 26 August, shedding light on the entire episode and mentioning the actual reason for the sell-offs.
Realistic or not, here’s PEPE market cap in BTC‘s terms
Moreover, as reported earlier, while most investors dumped, a few whales took the opportunity to buy more.
Here is what happened to PEPE
As per the official tweet, there were a series of unexpected transactions that took place from the PEPE multi-sig CEX on 24 August, which was the primary reason for the dump.
Wallets in which nearly 16 trillion tokens were transferred to various crypto exchanges, and the required signer count was reduced to 2/8 wallets.
an announcement to the $PEPE community:
Yesterday on August 24th, 2023, a series of unexpected transactions took place from the $PEPE multisig CEX
Wallet in which ~16 Trillion $PEPE tokens (worth roughly $15m USD) were transferred to var
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Author: Dipayan Mitra
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