Deflationary meme coin PEPE, inspired by the iconic Pepe the Frog meme, has surprisingly faced a security breach that has led to its official Telegram account being compromised. On September 9, the project team used their social platforms to inform the community about this unfortunate incident. Here are the details…
Meme coin made an announcement
PEPE’s official announcement revealed that their old Telegram account had been hacked and was no longer under their control. It was reported that hackers allegedly operating under the “lordkeklol X” account used this account for fraudulent activities. It is important to note that this account has no connection with PEPE’s official team members. The PEPE community is called on to act quickly by reporting the fake PEPE group to Telegram administrators to have it removed. Additionally, the team plans to create a new Telegram group with enhanced security measures to prevent such incidents in the future. All official information from PEPE will be distributed through this new account in the coming weeks.
Launched on the Ethereum Blockchain, PEPE aims to capitalize on the growing popularity of meme coins, following in the footsteps of Shiba Inu and Dogecoin. The project has attracted attention by implementing a tax-free policy, a redistribution system that rewards long-term stakers, and a burn mechanism to preserve the scarcity of the PEPE coin. In late spring of 2023, PEPE witnessed a meteoric rise in value, with its market cap rising to a staggering $1.6 billion at its peak. This boom turned the original owners into millionaires and attracted a loyal community of like-minded enthusiasts. This phenomenon has even led some to dub it “meme coin season,” triggering rapid pumps and equally dramatic declines in the broader meme coin space.
What is the latest situation in PEPE price?
The question now is whether PEPE and its meme coin counterparts can soar to new highs. This is a possibility that many hopeful investors are eagerly eyeing. PEPE’s roadmap was divided into three distinct phases. The first phase reflects the growing popularity of the coin, which is listed on CoinMarketCap and trending on Twitter. The second phase will include listings on centralized exchanges (CEXs) and increase the availability of the coin. The third phase, which is the most ambitious phase, is “1. tier” involves securing listings on exchanges.
At the time of writing, the price of PEPE indicates a decrease of 2.27 percent. The Pepe (PEPE) market was in control of bearish momentum until the bulls found support at the intraday low $0.0000007872. As a result, Pepe’s price began to recover, indicating a possible positive turnaround. This support level encouraged increased purchasing activity, causing transaction volume to increase and market price to rise steadily.
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