On-chain analyst Yazan reports insider selling of PEPE holdings, with around 400 billion PEPE sold, aligning with Pauly’s team exposure.
In an announcement to the PEPE community, it was claimed that three former members stole funds from the project and then handed over full control to the sole remaining member.
This transaction followed this same whale’s previous transactions on 5 June 2023 where he spent 280 Ethereum (worth $507,000) to acquire 500 billion PEPE.
Shibarium’s beta phase saw a total of 21 million wallets on the L2, driving the interest of users months before the launch.
After almost two years, the stolen 13,556 ETH, worth nearly $60 million at the time, amounted to almost $26.2 million at the time of writing.
Besides Ethereum, Bitcoin’s meme frenzy via Ordinals has steeply declined from its high in May.