Bubblemaps challenges PEPE’s fair launch, alleges 30% of genesis supply bundled
Bubblemaps claims 30% of Pepe's genesis supply was bundled, contradicting its 'for the people' launch narrative.Summary
Blockchain data analysis platform Bubblemaps has challenged the fair launch narrative of the memecoin Pepe (PEPE), alleging that approximately 30% of its initial supply was bundled by a single entity at launch in April 2023. Bubblemaps stated that investors were "lied to," as the same wallet cluster sold $2 million worth of PEPE tokens the day after launch, contributing to significant early selling pressure that may have prevented the token from reaching a $12 billion milestone. This concentration contrasts sharply with Pepe's branding as a "coin for the people" with no presale allocations. Bubblemaps uncovered this using its Time Travel forensic tool, designed to detect early insider activity and coordinated accumulation efforts to prevent scams like rug pulls. Despite the allegations and recent price declines, some traders have realized substantial profits from PEPE.
(Source：Cointelegraph)