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Pepe coin witnessed a major drop in value due to an issue of theft of $15 million by rogue developers that led to the emergence of Pepe Community, which has experienced a notable surge in the past week.
Investors are closely monitoring the new Pepe-related token’s impressive price rally, hoping for a potential recovery after the setback with Pepe Coin.
An overview of Pepe Community
In April, a separate project emerged, closely associated with the well-known Pepe, and was subsequently listed on Binance in May under the same ticker symbol, PEPE. However, it wasn’t until August 25 that the new Pepe Community token made its debut on Uniswap.
This revitalized $PEPE aims to adhere to the core principles of DeFi and memecoins, fostering an open market where all participants enjoy equal treatment, enabling them to transact freely without restrictions or tax burdens.
The #PepeCommunity has demonstrated incredible resilience and determination.
Together, we are turning the $Pepe project into a vibrant community which embraces the DeFi ethics. This in turn empowers each and all individuals.
So #PepeArmy, let's continue building a future where… pic.twitter.com/vIzKZYJ5RY
— Pepe Community 🐸 (@PepeCommunity_) August 30, 2023
Importantly, $PEPE operates without centralized ownership, and its liquidity pair has been intentionally removed to protect the community from potential harm. This authentic $PEPE represents a community-driven initiative focused on memetic warfare against normies while upholding the principles of financial freedom integral to DeFi.
The development of the new Pepe coin was a reaction to the larger market cap of Pepe, which currently stands at $314 million, a significant decline from its peak of nearly $2 billion, partly due to the blacklisting of certain wallet addresses on its launch day and the facing of insider trading allegations following a significant price crash last week.
The Pepe Coin team announced on Twitter that certain team members had been able to steal about 16 trillion tokens from the multisig CEX wallet. These tokens were then sold on the market, causing the price of Pepe Coin to plummet.
However, the Pepe Coin team has since regained control of the tokens and plans to burn the remaining tokens in the multisig wallet.
Pepe Community price prediction
Pepe Community has experienced a remarkable ascent since its inception. Launching at a price of $0.0032, the token reached an all-time high of $0.0451 on August 28th, marking an astounding price surge of over 1000%.
This impressive price increase occurred amid a correction of nearly 40% in the past month for Pepe Coin. The token’s surge commenced on August 28th, rapidly gaining momentum. In less than six hours, its price surged from $0.004 to $0.027, briefly encountering resistance at $0.03, momentarily halting its ascent.
Although the token faced a minor setback, dropping to $0.019, it demonstrated resilience by rebounding and surpassing the previous resistance at $0.03. On the day following August 29th, the token nearly reached $0.04 but encountered substantial resistance, compelling it to retreat after reaching $0.0369.
As the day concluded, $PEPE experienced a final surge, breaking through all previous resistance levels and reaching $0.045, only to lose momentum and witness a sharp price decline to $0.0156. Earlier that day, it had reached this level but swiftly rebounded to nearly $0.03.
However, it encountered resistance once more, pushing it down to approximately $0.02. The token underwent another drop before establishing a new support level at $0.025. From there, it made another attempt to surge, yielding similar outcomes.
At the time of writing, the token is trading at the $0.01 mark. Given its favorable initial performance, there is potential for further price increases in the coming weeks and months.
Pepe Community’s promising start has attracted traders who are shifting their investments from heavyweight meme coins like Pepe and HarryPotterObamaSonic10Inu to explore lesser-known projects with the potential for substantial returns.
Assessing the credibility of the new Pepe Community coin
Despite the information presented on CoinMarketCap, Pepe Community is reported to currently possess a blacklist function, as indicated in the audit scan section on DEXTools. This discovery references sources like GoPlus, TokenSniffer, and Hapi.
A blacklist function serves as a tool that developers can employ to restrict specific wallets from engaging in regular trading activities, such as selling their holdings to capitalize on profits.
Additionally, Pepe Community allegedly incorporates other features like ‘trading cooldown’ and ‘antiwhale’ mechanisms, which can control the timing between buy or sell transactions or impose limits on the maximum token holdings within wallets.
Notably, TokenSniffer has assigned Pepe Community a perfect score of 100/100, DEXTScore rates it at 99/99, and its community trust rating stands at 95.9% based on 293 votes.
It’s worth noting that some new Uniswap tokens have experienced rug pulls without any prior audit warnings, while others have received audit warnings yet investors encountered no issues while trading them.
The new meme coin with clean audits for safer investing: Sonik Coin
Emerging meme coins are now being considered as alternatives to $PEPE, raising questions about potential investments. While $PEPE’s declining price prompted some cryptocurrency users to withdraw, the spotlight shifted to Pepe Community this week, yet traders continue to explore other opportunities.
Sonik Coin (SONIK), a rising cryptocurrency, has successfully raised over $900,000 in its viral presale, with a hard cap target of $2,098,547 and six days remaining. Inspired by Sonic the Hedgehog, this coin targets both Asian meme coin enthusiasts and global traders looking to participate in the meme coin frenzy.
Sonik Coin has been steadily gaining followers on social media platforms like X (Twitter) and Telegram, amassing a combined following in the thousands. This surge in interest comes as meme coin traders seek the ‘next Pepe’ following recent rug pull incidents.
The SONIK presale has also garnered attention from crypto analysts, including Michael Wrubel and Crypto Zeus. For detailed information on SONIK, including its roadmap, tokenomics, and whitepaper, you can visit Sonik Coin official website.
During the presale, SONIK is priced at $0.000014 in a single price round, ensuring a fair launch. Notably, this meme coin sets itself apart by offering a stake-to-earn utility, rewarding token holders and reducing selling pressure, thereby ensuring long-term sustainability. Explore our guide for a step-by-step process on how to buy $SONIK tokens.
Impressively, the current staking APY stands at 71%, highlighting the potential for lucrative passive earnings. A significant portion of the circulating supply, approximately 33 billion $SONIK tokens, has already been staked, demonstrating strong community support for this innovative concept.
Additionally, a meticulous smart contract audit, conducted by 0xGuard, has been carried out and made accessible to the public. This rigorous audit has thoroughly reviewed and secured every line of code, unequivocally confirming Sonik Coin’s legitimacy and resilience against scams.
As an alternative coin to Pepe coins, Sonik Coin is gaining recognition among crypto experts. To participate in the SONIK presale, visit sonikcoin.com.
Related
- Pepe Community Price Prediction: PEPE Surges 200% – Community Engagement Key?
- New Cryptocurrency Releases, Listings, & Presales Today & Chaintools, Pepe Community, Ethera X
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- Sonik Coin Poised for 10x Gains & A Chance to Get in Early on the Next Big Meme Coin
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