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Memecoin Pepe falls hard after developers move assets

The cryptocurrency Pepe has fallen sharply.

By Mike Hesp
• 1 min read
Memecoin Pepe falls hard after developers move assets

The cryptocurrency Pepe has fallen sharply. This was caused by millions of developer transfers - and a change to the multisig wallet.

The Pepe price plunged 25 percent from the previous day.

Earlier, the project's developers had transferred 16 trillion Pepe tokens, about four percent of the total stock, to various exchanges.

View post on X

This was the first time Pepe tokens were transferred from the wallet to exchanges.

In addition, the developers made a change to the multisig wallet. Transactions can now be authorized by only two of eight people, instead of five previously.

The token transfer combined with the wallet modification has caused panic. On social media, there is already View post on X about a "rug pull".

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