PEPE marginally up 0.51% in last 24 hours
, a statement about the massive token sale was made via the official PEPE X account. It claimed that three team members stole 16 trillion PEPE tokens, or 60% of the 26 trillion multisig tokens, as a result of internal conflict, which has been ongoing since the project's first week of inception. They then transferred the stolen tokens to exchanges, where they were sold.
In another X update, PEPE made it known that the 10.6 trillion tokens left in the PEPE multisig have been transferred to a new address where they will safely rest until used or burned.PEPE fell by over 20% for three consecutive days spanning Aug. 24 to 26 before slightly rebounding to where it trades. At the time of writing, PEPE was marginally up 0.51% in the last 24 hours to $0.00000089.
Given that, price volatility might be expected for PEPE given its recent happenings. A likely scenario might be for PEPE to see a rebound or a dead cat bounce in the very short term given that its daily RSI has crossed below oversold levels.
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