Crypto Influencer Exposes Insider Trading Allegations and Significant PEPE Token Transactions, Plunging Pepecoin Price
Summary:
Former PEPE promoter turned crypto influencer, Jeremy "Pauly" Cahen, has accused the Pepecoin team of insider trading and exposed their identities. On-chain analysis reveals significant transactions involving insiders. The team allegedly possesses around $16-17 million in PEPE tokens across 9 wallets. Insider selling has commenced, with 400 billion PEPE already sold. Pepecoin's price has plummeted by 15%, currently standing at $0.00000090. Trading volume has diminished, reflecting a waning interest among traders.
In a shocking turn of events, former PEPE promoter and crypto influencer Jeremy "Pauly" Cahen has made insider trading allegations against the Pepecoin team. He claims that around 16 trillion PEPE tokens were stolen and is now revealing the identities of team members along with their wallet activities. On-chain analysts have also discovered significant Pepe Coin transactions involving insiders.
Pauly recently disclosed that the Pepecoin team holds approximately $16-17 million worth of PEPE tokens across 9 different wallets. Surprisingly, instead of selling these tokens, the insiders strategically offloaded them from a centralized exchange wallet, establishing a substantial short position. Pauly intends to collaborate with multiple law enforcement agencies in order to bring the team responsible for these alleged crimes to justice.
Furthermore, Pauly has shared personal information about certain individuals within the Pepecoin team while discrediting their explanations regarding multi-sig wallets and PEPE holdings. He believes that the team is exploiting the community and causing harm to many.
According to on-chain analyst Yazan, insider selling of PEPE tokens has already begun, with approximately 400 billion PEPE already sold. This coincides with Pauly's exposure of the Pepecoin team members. In response, Yazan has called on crypto exchanges such as Binance and OKX to implement measures to prevent insider transactions.
As a result of the selloffs executed by the Pepe Coin team, the price of Pepecoin has taken a bearish turn and dropped by 15%. Despite a brief 10% increase, the PEPE price was unable to maintain momentum and has experienced a decline, contributing to the negative sentiment within the community.
Coinmarketcap currently reports the PEPE price at $0.00000090, reflecting a 7% decrease over the last 24 hours. During this period, the price fluctuated between $0.00000085 and $0.00000095. Additionally, the trading volume has decreased in the past 24 hours, indicating a waning interest among traders.
Published At
8/26/2023 11:39:43 AM
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