Fat Pig Signals logo

PEPE Coin: Recent Multi-Sig Changes and Price Plunge

Shares

PEPE Coin: Recent Multi-Sig Changes and Price Plunge

PEPE Coin, a popular meme coin in the cryptocurrency market, recently experienced a significant price plunge and controversy surrounding its multi-sig changes. In this article, we will explore the details of what happened and how it has affected the coin's value.

The Multi-Sig Changes

On a specific date, the developers of PEPE Coin made changes to the multi-signature (multi-sig) wallet associated with the coin. Previously, the wallet required five out of eight signatures to approve transactions. However, the developers altered this requirement to only two out of eight signatures.

This change raised concerns among investors and the cryptocurrency community. Reducing the number of signatures required for transaction approval can potentially give the developers more control over the coin's liquidity and raise suspicions of a rug-pull, where developers cash out their holdings and abandon the project.

The Price Plunge

Shortly after the multi-sig changes, PEPE Coin experienced a significant price plunge. The value of the coin dropped by approximately 20%, causing panic among investors.

The price drop can be attributed to the controversy surrounding the multi-sig changes and the uncertainty it created among investors. The sudden change in transaction approval requirements raised doubts about the developers' intentions and the future of the coin.

Traders Shifting Focus to Sonik Coin

Amidst the controversy surrounding PEPE Coin, traders have started shifting their focus to a new meme coin called Sonik Coin. Sonik Coin has gained attention in the cryptocurrency community due to its presale, which is surging towards $500,000.

Traders see Sonik Coin as a potential alternative to PEPE Coin, given the uncertainty surrounding the latter. The presale success and the potential for significant returns have attracted investors to Sonik Coin, causing a shift in trading activity.

Conclusion

The recent multi-sig changes and price plunge of PEPE Coin have created uncertainty and controversy in the cryptocurrency market. Investors are concerned about the developers' intentions and the future of the coin. Meanwhile, traders are shifting their focus to Sonik Coin, a new meme coin.

As with any investment, it is essential to conduct thorough research and exercise caution when investing in meme coins or any other cryptocurrency. The market can be volatile, and it is crucial to stay informed and make educated decisions.

Shares

Related Articles

English High Court Recognizes Tether's USDT as Property: A Landmark Decision

English High Court Recognizes Tether's USDT as Property: A Landmark Decision The legal landscape of digital assets took a significant step forward as the High Court of Justice in England and Wales ruled that Tether’s USDT stablecoin qualifies as property. This ruling is pivotal, not only affirming USDT’s status under English law but also impacting […]

Commerzbank Expands into Crypto Trading: What It Means for Germany's Corporate Sector

Commerzbank Expands into Crypto Trading: What It Means for Germany's Corporate Sector Commerzbank, one of Germany's leading banking institutions, is making a significant leap into the digital finance world. Recent announcements reveal that the bank has partnered with Crypto Finance, a subsidiary of Deutsche Boerse, to offer trading services for digital assets. This initiative will […]
Ftx Exchange logo in 3D

SBF Says He Wants to Raise Liquidity and Restart Business

Utoday: Founder of now-bankrupt exchange wants to start things from scratch, here's how community reacted Sam Bankman-Fried, who co-founded major exchange FTX which he recently declared insolvent, has taken to Twitter to tell the community that he would like to start his business all over again. He plans to compensate losses to customers first and, after […]
PHISHING WARNING: Please make sure you’re visiting https://www.fatpigsignals.com. There has been an increasing amount of scammers and Impersonators. Please verify the handles carefully as well. Admins will never contact you selling investment products or a fund.
Official Admin Contacts: https://t.me/dad10 and https://t.me/gangplank123
+