Pepe the Frog<\/a>, while Dogecoin, was inspired by a 2013 joke between Billy Markus and Jackson Palmer.\u00a0<\/p>\nIn the digital asset landscape, these meme-coins are often created as a joke or a way to mock the serious nature of traditional cryptocurrencies \u2013 with the irony being that they can still gain and maintain significant value based on its community following.\u00a0<\/p>\n
Thursday\u2019s sudden surge of over 16 trillion $PEPE tokens naturally created apprehension among investors, also causing a subsequent drop in its trading price. <\/p>\n\n
This strangely followed what appears to be an even more alarming phenomenon \u2013 changing the number of required crypto wallets required to \u201csign off\u201d on a transaction that authorizes the crypto transaction to go through.<\/p>\n
PEPE\u2019s multi-sig wallet, which is responsible for safeguarding a substantial portion of $PEPE tokens and is one of the largest holders of the meme coin, previously required approval from five out of eight designated wallets (5\/8 signatures) to authorize any given transaction.\u00a0<\/p>\n
However, according to some \u201con-chain sleuths,\u201d as reported by CoinDesk, they noted these troubling changes after the multisig wallet suddenly reduced that threshold to just two out of eight signatures (2\/8 signatures).\u00a0<\/p>\n
Interestingly, this incident marked the first instance in which the project\u2019s essential multi-sig wallet participated in sending out PEPE tokens.\u00a0<\/p>\n
Not much else is known at this time, but we will update the story as we learn more.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
Investors of the popular meme coin, $PEPE, were (understandably) alarmed on Thursday after millions of dollars worth of $PEPE suddenly flooded crypto exchanges, including Binance, OKX, and Bybit, as initially reported by CoinDesk. Memecoins like Pepe Coin, Dogecoin, and Shiba Inu, are digital currencies created and promoted around a popular internet meme or cultural trend. […]<\/p>\n","protected":false},"author":2,"featured_media":142017,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[245,239,243,242,244,202,184,241,240,189],"class_list":["post-142016","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-nft","tag-azuki","tag-board-ape","tag-erc115","tag-erc721","tag-metamask","tag-nft","tag-nft-technology","tag-opensea","tag-sbt","tag-soul-bound-token"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/142016","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=142016"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/142016\/revisions"}],"predecessor-version":[{"id":146771,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/142016\/revisions\/146771"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/142017"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=142016"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=142016"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=142016"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}