August 27, 2023 at 11:38 AM GST 1 min read News
  1. Jeremy “Pauly” Cahen, a former Pepecoin promoter, accuses the Pepecoin team of insider trading involving 16 trillion PEPE tokens.
  2. On-chain analysts corroborate the allegations, pointing to significant transactions involving Pepecoin insiders.
  3. The Pepecoin team allegedly holds $16–17 million in PEPE tokens across nine wallets but refrains from selling, raising suspicions.

Jeremy “Pauly” Cahen, a former Pepecoin promoter turned crypto influencer, has accused the Pepecoin team of insider trading. According to Cahen, the team strategically offloaded approximately 16 trillion PEPE tokens from a centralized exchange wallet. On-chain analysts, including Yazan, support these allegations, pointing to significant transactions involving insiders.

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Cahen further disclosed that the Pepecoin team holds an estimated $16–17 million in PEPE tokens across nine wallets. Surprisingly, they have not sold these holdings. Instead, they’ve established a substantial short position, raising suspicions of exploiting the community.

In light of these allegations, on-chain analyst Yazan has urged crypto exchanges like Binance and OKX to implement preventive measures against transactions from insiders.

Despite the current turmoil, the future of Pepecoin and PEPE tokens could still be bright. With increased scrutiny and transparency, the project has the potential to regain trust and thrive in the crypto space.

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