PEPE slides 21%, holders exploring new meme coin

Pepe Coin (PEPE), is under pressure when writing. It is down 21.9% in the last month when writing, extending losses. But while PEPE is struggling, a new meme coin, Meme Kombat, is steadily rising. The uptrend is partly due to its novel approach and transparency.

Trust fading after exploit

PEPE crashed in Q3 2023 after founders withdrew tokens from their multi-signature wallet.

While the remaining team took measures to rectify the issue, the community still remembers the debacle.

Last week, the Pepe Coin team noted a “strange transaction” from their deployer contract.

The tweet explained that the transactions “and any future transactions” are unrelated to the current Pepe team and are “taking place by the nefarious ex-team members who previously stole from the PEPE treasury.”

However, the tweet did little to ease the community’s concerns.

Influencer Pauly slammed the PEPE team, accusing them of criminal misconduct. He criticized their attempts to conceal their identities and demanded that they reveal themselves publicly.

Pauly also shared his negative experiences with the team, describing them as dishonest, incompetent, and greedy.

His tweet sparked a heated debate, with 90.4% of community members voting to remove the PEPE team and burning the remaining tokens.

The exploit in August 2023 severely damaged the reputation of PEPE, leading to widespread distrust among the cryptocurrency community.

Despite a brief price recovery in November, PEPE’s value has been consistently declining since peaking in early December.

This ongoing downturn reflects the ongoing erosion of confidence in the project.

While PEPE faces increasing scrutiny and declining value, a new meme coin Meme Kombat is trending higher. The project stands out from existing meme coins with its transparent team and innovative tokenomics.

The Meme Kombat presale

The Meme Kombat presale has raised over $7.6 million so far. It’s hard cap is set at $10 million.

The project has been featured in leading crypto outlets like crypto.news.

Meme Kombat taps powerful crypto trends – AI, gambling, play-to-earn gaming, and meme coins.

Players bet on AI-simulated battles between meme token mascots using the MK token.

Integrating multiple popular meme coins sparks competition as communities support their meme token fighter.

Various gameplay modes, plus odds-based betting, enable diverse participation.

A transparent team, audited contract, and generous 122% APY staking strengthen the ecosystem.

Leading analysts praise Meme Kombat’s inventive model and hype continues building.