Aug 25, 2023

PEPE is plummeting roughly 17% in the last 24-hours, as strange transfers spooked investors.

Video transcript

The chart of the day is brought to you by crypto dot com. The world's fastest growing crypto app. Let's take a look at the chart of the day. Me coin pepe plummeted this morning down 17% as a strange transfer spooked investors on chains, noted some troubling changes to the oversight of the project's multi wallet. Instead of requiring five of eight wallets to sign off on transactions, it changed to only require two of eight. Shortly after this discovery, more than 16 trillion tokens flowed out of the Pepe the Sig wallet and were sent to addresses associated with B OK. And buy this the first time that the project's vault has ever sent out. The frog based meme coin, the large transfers coupled with no communication from the Pepe team on X, formerly known as Twitter. Seems to have triggered a sell off. That's it for today's chart of the day. I'm Jen Senai. We'll see you next time to unpack more of the data behind top news stories.

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