Blockchain data visualization platform Bubblemaps has raised questions about the fairness of the Meme coin project PEPE's launch. Analysis reveals that approximately 30% of the genesis PEPE supply is linked to a single entity. This entity reportedly sold $2 million worth of tokens the day after the launch. Such concentration of supply in a few wallets can be a red flag for potential scams like 'rug pulls,' where insiders might dump tokens, leading to a price crash and leaving investors with worthless assets.
Bubblemaps Raises Concerns Over PEPE's Fair Launch
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