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Despite charges of rug pulling, a PEPE coin early adopter has acquired 1 trillion tokens
The individual who was an early adopter of PEPE coin managed to acquire a significant amount of 1 trillion tokens, while facing allegations of a rug pull.
PEPE coin early buyer purchased 1.04 trillion tokens worth $951,000 right before the price jump in the meme coin.
The large wallet investor previously accumulated 2.43 trillion PEPE near the launch and netted a profit of $1.67 million.
Despite the recent rug pull allegations by the crypto community, the whale continues accumulating PEPE coin.
PEPE currency is being accused of a rug pull after insiders were accused of skimming $15 million in tokens from the enterprise. Despite the price drop and allegations, an early adopter of the meme coin purchased 1 trillion PEPE coins.
An early adopter's stockpiling of PEPE appears to be an indication of trust in the meme coin.
PEPE coin early bidder purchases 1 trillion meme coins
A frog-themed meme coin early adopter purchased 1.04 trillion PEPE coins late Tuesday night during European hours. Despite rumors of a rug pull in the crypto world, the buyer was unfazed and spent $951,000 in exchange for 1.04 trillion PEPE.
The buyer already purchased 2.43 trillion PEPE tokens at $60 at the start, netting a profit of $1.67 million after the transaction. Surprisingly, the acquisition occurs at a time when community influencers and crypto analysts are condemning the PEPE project and accusing it of a rug pull.
Former founding team members took 16 trillion tokens worth roughly $15 million less than a week ago, leaving the project with only 10 trillion tokens in the multisig wallet, according to the official PEPE Twitter handle. More information can be found here.
Allegations of rug pulling
In light of the $15 million heist by the former founding team members, Kenobi, a developer and PEPE investor, called on the community to sell the remaining tokens.
NebraskanGooner, a pseudonymous crypto analyst and trader, examined the PEPE price trend and forecasted that the meme coin would continue to fall. The influencer called the initiative a "ponzi" and predicted a drop to 0.
PEPE is currently trading at $0.00000088 on Binance, down 1.27% in the last 24 hours.
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