Blockchain
Bubblemaps Challenges PEPE’s Fair Launch, Says 30% Genesis Supply Bundled
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Blockchain data is casting doubt on the “for the people” launch narrative of memecoin Pepe, with new analysis suggesting that nearly a third of the initial supply was held by a single entity and contributed to heavy early selling pressure.
About 30% of the Pepe (PEPE) token supply was bundled at launch in April 2023, blockchain data visualization platform Bubblemaps claimed Wednesday in a post on X, adding that investors were “lied to.”
The same wallet cluster sold $2 million worth of PEPE tokens the day after launch, adding significant sell…
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