Will Pepe Coin's Price Drop to Zero Following the $15M Heist?
Pepe Coin's value has plummeted by nearly 40% over the past two weeks due to three founders exploiting the multi-signature transfer system, absconding with approximately $15 million worth of the cryptocurrency. While the immediate future holds uncertainty regarding a complete collapse, Pepe Coin's prospects have been significantly compromised.
The erosion of trust caused by the founders' actions casts doubt on Pepe Coin's ability to regain its former heights. Consequently, investors are exploring alternatives like Wall Street Memes (WSM), a meme coin that has gained attention due to its strong performance.
Pepe Coin's decline has been sharp, with a 37.3% correction in the last month and a 23% drop in the past week alone. The exploit involving the multi-sig wallet led to a sudden and substantial transfer of over 16 trillion tokens to exchanges, resulting in a profound devaluation.
A closer examination of Pepe Coin's technical indicators paints a pessimistic outlook. Tools such as Coincodex predict continued sideways movement, and though a marginal price increase is projected by 2025, recent events' trust deficit could hinder any substantial recovery for Pepe Coin.
Emerging as a potential substitute, Wall Street Memes (WSM) comes into focus as Pepe Coin's value wanes. WSM amassed over $25 million in its presale, gaining substantial traction among traders. The imminent final stage of WSM's presale offers investors a chance to secure the token ahead of its listing on reputable exchanges in the upcoming month.
However, the attainment of a $1 valuation for Wall Street Memes (WSM) hinges on multiple variables. Much like Pepe Coin's past growth, WSM's success depends on factors like technological advancements, adoption rates, partnerships, prevailing market trends, and more.