Bubblemaps Challenges PEPE’s Fair Launch, Says 30% Genesis Supply Bundled

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Blockchain data is casting doubt on the “for the people” launch narrative of memecoin Pepe, with new analysis suggesting that nearly a third of the initial supply was held by a single entity and contributed to heavy early selling pressure.

About 30% of the Pepe (PEPE) token supply was bundled at launch in April 2023, blockchain data visualization platform Bubblemaps claimed Wednesday in a post on X, adding that investors were “lied to.”

The same wallet cluster sold $2 million worth of PEPE tokens the day after launch, adding significant sell…



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Bubblemaps Challenges PEPE’s Fair Launch, Says 30% Genesis Supply Bundled


Blockchain data is casting doubt on the “for the people” launch narrative of memecoin Pepe, with new analysis suggesting that nearly a third of the initial supply was held by a single entity and contributed to heavy early selling pressure.

About 30% of the Pepe (PEPE) token supply was bundled at launch in April 2023, blockchain data visualization platform Bubblemaps claimed Wednesday in a post on X, adding that investors were “lied to.”

The same wallet cluster sold $2 million worth of PEPE tokens the day after launch, adding significant sell…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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