Despite the fact that the market capitalization of Pepecoin crypto project exceeded $1 billion in a short period of time, there are cryptocurrency experts who consider investing in this token very risky.
DeFi Watch founder Chris Blec argues that PEPE was created by powerful people with a lot of money, and the retail investors are just pawns. Black urged users not to get involved in “this dangerous game.”
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It was this statement by Blec attorney and CryptoLaw founder John Deaton referred to when a slew of subscribers began flooding him with emails and messages asking what he thought of PEPE.
Yassin Mobarak, founder of investment firm Dizer Capital, called PEPE a “Trojan horse” designed to undermine confidence in the digital asset market.
In Mobarak’s opinion, PEPE will be like the bankrupt FTX crypto exchange: first, the fraudulent project will pump until it attracts enough gullible investors, and then it blows up, and regulators declare cryptocurrencies dangerous and use the incident to strangle the entire industry.
This scenario has already been repeated from time to time, Mobarak assured.
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Some commentators have wondered why the U.S. Securities and Exchange Commission (SEC) doesn’t go after meme projects, but instead sues major cryptocurrency companies and trading venues that have long been on the market…
Despite being on the market for less than a month, Pepecoin is second only to Shiba Inu and Dogecoin in terms of capitalization among meme cryptocurrencies.
PEPE now has a market capitalization of $654.6 million and is already trading on Gemini.