i know the devs, including some degenharambe guy, not sure if he a dev or not, had dumped a large amount of coins and still had a bunch left in their wallet. there's been talks about whether they gonna dump or just burn those coins. supply still massively high without them anyways. price has been dipping back down and volume looking red past few hours. i read somewhere that it seemed to be the community orchestrating a friday pump which now some seem to be taking profit on. it hasn't had much volume and buying power since the beginning when it ran up like crazy. many folks moved on to other coins or just ignored it when they noticed it was on a downtrend. if it wasn't for Pauly talking about it, the coin would be irrelevant. i don't know if they can change the contract to allow burns out of nowhere. unless the devs burn their coins. not sure which wallets those are but i doubt any of the greedy crypto dev motherfukkers gonna burn a million dollars worth of coins to help others when they rather spend it on lambos and more grifting.
there were originally 5 devs, and three of them apparently bailed, selling 10 or 15 trillion PEPE in the process. two remain, though they’ve been fairly quiet since this happened, making a couple updates on twitter. the most recent twitter post says the telegram has been hacked and that other groups are conspiring against the project.
i wouldn’t say it’s been dead or irrelevant. there are still a good number of whales holding a lot of money. when they leave, we can say it’s in trouble. until then, it’s weathering its travails fairly admirably.
if you recall, it was recovering from the huge profit taking after it hit the ATH, pumping back to around an 800 million mc right before news of the SEC’s actions against Binance and Coinbase sent Bitcoin tumbling. when Bitcoin recovers, i am guessing it will probably hit a new ATH.
it’s still the best performing meme coin of the year. all of these copycats that followed in its footsteps failed to replicate its success and are on life support.
sucks i wasn’t able to get in before its big run. hopefully, you made a nice bit of profit. assuming this is its bottom, i’m cool with getting a bag at this level. i think a 100-300x is in the cards. if not, it’s whatever. i didn’t put a lot in this.