Former Pepecoin promoter Jeremy “Pauly” Cahen claims the Pepecoin team engaged in insider trading with 16 trillion PEPE tokens. Analysts confirm this with notable on-chain transactions by Pepecoin insiders. The team reportedly possesses $16-17 million in PEPE tokens spread across nine wallets but avoids selling, sparking suspicions.
Former Pepecoin promoter turned crypto influencer Jeremy “Pauly” Cahen alleges that the Pepecoin team engaged in insider trading by moving around 16 trillion PEPE tokens from a centralized exchange wallet.
On-chain analysts like Yazan back these claims, highlighting notable transactions involving the team members.
The @pepecoineth team is holding 16-17 million worth of $pepe across at least 9 different insider wallets.
Why didn’t they sell from those?
Because by dumping the CEX wallet they knew they could create a massive short position then dump the market + print.
Insider trading 101.
— PAULY (@Pauly0x) August 26, 2023
Cahen also revealed that the Pepecoin team holds around $16-17 million worth of PEPE tokens in nine different wallets. Interestingly, they haven’t sold these tokens. Instead, they’ve taken a significant short position, which has raised concerns about their intentions within the community.
Given these allegations, on-chain analyst Yazan has called on crypto exchanges like Binance and OKX to take preventive steps to address transactions involving insiders.
Despite the current challenges, there’s still hope for the future of Pepecoin and PEPE tokens. By increasing transparency and addressing concerns, the project could rebuild trust and find success in the crypto world.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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