Now, however, the rate has decreased slightly and is $0.0000033. Nevertheless, the total capitalization of PEPE exceeded $1.2 billion, which allowed the token to reach 42nd place in the CoinMarketCap ranking.
Interestingly, the developers added the address blocking feature. If this feature is applied, the user who bought the token will not be able to sell, exchange or withdraw it.
Even the developers cannot undo the lock, because the owner of the smart contract has changed. True, they can no longer add the address to the blacklist.
Not only that, this feature has already been applied – 2 hours after PEPE was launched, a certain address bought 2.5 trillion tokens, which exceeds $8 million at the current exchange rate.
Within 10 minutes after the purchase, the developers blocked the address. Perhaps there is some kind of insider trading involved, so the developers of the “memetic token” decided to block this address.
The problem is that the contract checks with every transaction to see if the author of the transaction is blacklisted.
This adds a small amount of gas required to complete the transaction, and therefore a commission.
It’s also worth noting that the PEPE smart contract has a token burning feature, but no issuance feature. That is, the number of circulating tokens can only shrink.
Recently, cryptocurrency analysts discovered several addresses that run fraudulent “memetic tokens” on a daily basis.