Pepecoin Price Drop Amidst SEC Charges Around Binance, Investors Flock To Rival Memecoin

Pepecoin Price Drop Amidst SEC Charges Around Binance, Investors Flock To Rival Memecoin

Time Stamp: June 12, 2023 2:56 PM
Pepecoin Price Drop Amidst SEC Charges Around Binance, Investors Flock To Rival Memecoin PlatoBlockchain Data Intelligence. Vertical Search. Ai.

In the crypto world, the slightest positive news can cause a spike, and the least inconvenience can swing the other way for most projects. This time, it is the latter, as the Securities and Exchange Commission (SEC) dealt a major blow to two notable cryptocurrency exchange platforms, Binance and Coinbase.

As expected, this news caused a price drop for several projects, and PEPE wasn’t spared. As a reaction to this price dip, investors are diversifying their portfolios, and a rival meme coin appears at the top of their list.

Why is the Securities and Exchange Commission (SEC) pressing charges against Binance?

On Monday, June 5, 2023, the Securities and Exchange Commission filed a lawsuit against Binance, the world’s biggest crypto exchange platform, accusing it of mismanaging customer funds and deceiving American regulators and investors about its operations. These charges can potentially transform the terrain of power and wealth in the crypto market.

This is the second time in 2023 that there has been a lawsuit from federal regulators accusing Binance of bypassing laws meant to safeguard the interests of investors in the United States. The 136-page document released contains accusations from the S.E.C. alleging that Binance had mixed billions of dollars in customer funds and discreetly moved them to a different company, Merit Peak Limited, under the management of Binance’s founder, Changpeng Zhao.

The impact of this lawsuit is already riling up investors, as a Reuters report shows how a withdrawal of nearly $780 million from Binance and its U.S. affiliate, Binance.US, also recorded net outflows of about $13 million. Also, Coindesk reports show how altcoins like Shiba Inu, Pepecoin, and Dogecoin are already taking hits and facing huge losses since the SEC’s lawsuit news broke out.

Hence, there’s a massive outflow of investment from these altcoins, with PEPE among the coins suffering the most impact. Thankfully, a new rival meme coin with unprecedented successes already shines a ray of hope on these investors’ portfolios, causing a massive switch as investors jump ship in droves.

Why are investors flocking to Pikamoon (PIKA)?

Pikamoon (PIKA) is currently one of the hottest meme coins on the market. Its unique combination of play-to-earn and meme coin features has propelled its rapid rise. In the game Pikamoon Adventure, set in the Pikaverse metaverse, players are rewarded with cryptocurrency (NFTs or PIKA) for discovering hidden treasures and defeating monsters. The marketplace also allows players to enhance their avatars and improve their chances of winning.

Industry experts attribute the success of this GameFi project to its innovative features, strong community influence, and the deflationary nature of its token, which contributes to its rapid growth.

●      Revolutionary projects with novel features

The Pikamoon project sets forth as a revolutionary project with ‘never-seen-before’ features.

A good example is the P2E game of this project, the Pikamoon Adventure, a product of the most advanced tool for metaverse gaming and 3D creation, Unreal Engine 5, boasting immersive gameplay for gamers like never before.

With these features, Pikamoon sets new standards and creates a project that grows fast and overtakes competitors with huge profits.

●      Built with growth in mind

Pikamoon is setting itself up for seamless expansion by strategically building its infrastructure across two prominent blockchains. By leveraging MultiversX for metaverse gaming and Ethereum for NFTs, Pikamoon ensures that it can cater to the growing demands of its presale and future developments.

●      Deflationary Token

$PIKA, the native token of Pikamoon, offers a unique combination of features as a deflationary hybrid play-to-earn and meme coin. This innovative blend creates a dynamic ecosystem where organic scarcity plays a significant role. As the token’s supply gradually decreases over time and demand continues to rise, the scarcity intensifies, driving the value of $PIKA to extraordinary heights.

This favourable supply-demand imbalance translates into massive profits for investors who hold the token. With its multiple use cases and strong fundamentals, PIKA presents an enticing investment opportunity within the Pikamoon ecosystem.

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Pikamoon’s Presale

Investors who participated in the initial phase have already enjoyed impressive 100% gains on their investments. Now, as the second stage progresses, there is a sense of urgency among investors to secure their positions and capitalise on the potential for even greater profits.

The demand for PIKA is soaring, with the second phase of the presale quickly selling out. This heightened interest stems from the anticipation of PIKA reaching $0.0006 by the final phase, which experts believe could result in a remarkable 50x increase in value before the end of 2023.

Today is the perfect opportunity to join the presale!

Find out more about Pikamoon (PIKA):

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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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