Bubblemaps questions the fair issuance of PEPE, suggesting that 30% of the genesis tokens may belong to the same entity.
TL;DR
Bubblemaps alleges PEPE's genesis tokens may not be fairly issued, with 30% possibly controlled by one entity that sold $2M worth shortly after launch. This concentration raises concerns about potential scams like runaway schemes.
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Odaily Odaily that blockchain data visualization platform Bubblemaps has published an article pointing out issues with the fair issuance of the Meme coin project PEPE. Monitoring shows that approximately 30% of the genesis PEPE supply is tied to a single entity, which sold $2 million worth of tokens the day after issuance. The analysis suggests that tokens with most of their supply concentrated in a few wallets can help investors detect scams such as "runaway" schemes, where insiders remove liquidity or conduct large-scale sell-offs, causing a price crash and leaving investors with worthless tokens. (Cointelegraph)