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.
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.