BubbleMaps raises 'Pepe dumping allegations'…"Sold $2 million immediately after launch"
Summary
- The blockchain data platform BubbleMaps said it raised dumping allegations regarding the meme coin Pepe (PEPE).
- Pepe's initial supply of about 30% held in wallets reportedly sold about $2 million worth of tokens the day after launch, increasing selling pressure.
- According to CoinMarketCap, Pepe price fell 5.1% compared with the previous day and about 26% compared with one month ago.
The meme coin Pepe (PEPE) has been accused of dumping.
The blockchain data platform BubbleMaps said on the 11th (local time), "about 30% of the supply of Pepe tokens was locked at launch," and said "(Pepe investors) were deceived." Previously, Pepe tokens were launched in April 2023. Cointelegraph reported, "At that time, Pepe was launched 'secretly' without a separate presale."
Dumping allegations were also raised. According to BubbleMaps, the wallet cluster that held about 30% of Pepe's initial supply sold about $2 million worth of tokens the day after Pepe's launch, increasing selling pressure. Cointelegraph said, "This was one of the factors that prevented Pepe's market capitalization from surpassing $12 billion."
Meanwhile, according to CoinMarketCap, as of 10:13 p.m. (KST) that day, Pepe's price fell 5.1% compared with the previous day. Compared with one month ago, it is about 26% lower.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul![[Market] Bitcoin falls below $82,000...$320 million liquidated over the past hour](https://media.bloomingbit.io/PROD/news/93660260-0bc7-402a-bf2a-b4a42b9388aa.webp?w=250)
