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PEPE Plummets 13% Following Mysterious Changes to Multisig Wallet

The newly popular memecoin Pepe (PEPE) tanked 13% in value on Thursday after the crypto community noticed strange alterations to the multi-signature wallet used for enhancing the token’s adoption. As noted by @Crypto_Noddy on X, the multsig wallet changed its threshold for token transfers from 5 of 8 to just 2 of 8 wallet signatures – far less than what is expected for storing reserves for popular coins. The multisig is meant to reserve a portion of Pepe’s supply to provide liquidity for future exchange listing, liquidity pools, and bridges. PEPE currently trades for $0.0000009472, down 13.74% on the day, and 29.61% from last month.

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