Investors of the popular meme token PEPE were spooked earlier today after a major modification to the project’s multi-signature wallet was highlighted. The threshold of keys was reduced from 5/8 signatures to just 2/8 signatures, meaning two out of eight signatories could approve transactions for the project.Digital asset research firm ASXN reported that PEPE tokens worth more than $15 million were sent to centralized crypto exchanges, including Binance ($6.5 million), OKX ($8.2 million), and Bybit ($434,000). Another $389,000 worth of the meme tokens were sent to a separate address.The sudden changes to the project’s multisig wallet and the suspicious token transfers caused considerable panic among PEPE investors, leading to a 16.3% decline in the meme token’s price. At the time of writing, the token was trading at a two-month low of $0.0000009173. Additionally, the meme token’s daily trading volume surged by 110% to over $174 million. Data from Coinglass showed that more than $1.25 million worth of PEPE positions were liquidated over the past 24 hours.
| Information |
Details |
| Geography |
Global |
| Countries |
|
| Sentiment |
negative |
| Relevance Score |
10 |
| People |
None |
| Companies |
Binance, OKX, Bybit, ASXN, Coinglass |
| Currencies |
PEPE, Binance, OKX, Bybit, Bitcoin |
| Securities |
None |
