Investigation into the Pepe (PEPE) token has revealed that five related addresses made an astonishing return of 3,200 times their original investment. Evidence shows that these five addresses tied to pecexwallet.eth purchased 8.87 trillion PEPE tokens for around 0.19 ETH ($385). These tokens were then transferred to three wallets and ultimately sold for a total of $1.23 million.
Although these outcomes appear to impressive, it's possible that the massive returns could be due to manipulation by the token's creator. This theory is strengthened by the token experiencing a huge gains of 7,500x and then correcting by 60% and rebounding by a further 40%.
As with all cryptocurrencies, it's important to note that the prices of token like Pepe (PEPE) can be incredibly volatile, offering huge upturns and downtrurns within a short space of time. With the possibility of manipulation and blacklisting of wallets, investors should be wary of holding PEPE and should consider other longer-term and more stable options when investing in crypto.
- Jordan Ramos
- 2023-04-24
How Pepe (PEPE) Token Profits Defeated Volatility
Evidence shows that five associated addresses purchased 8.87 trillion Pepe (PEPE) tokens for around 0.19 ETH ($385). These tokens were then sold for a total of $1.23 million. With the possibility of manipulation and blacklisting, investors should consider other options when investing in crypto.