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Tis the season of memecoins and we have a new member, PeiPei Coin, another abbreviation of Pepe Coin joining us. Its a DeFi token on the Binance Smart Chain, which claims to be the Chinese brother of Pepe Coin.

It has a total supply of 1 billion tokens, of which 999,982,657 are circulating, with about 71,954,130.56 pooled PeiPei Coin and a 24-hour trading volume of $368,367.74. PeiPei Coin currently has nearly 1.5k holders, making it a very young project.

Despite being recently launched, the chart movement has been nothing short of exasperating with over 90,000% profits. However, the bull run did not last long as the price quickly plummeted to its original price point.

There are a few red flags in the project that sing the siren song. When we dived deep into the rabbit hole we found the following details:

With the price dropping down in such a tremendous manner, it is quite possible the developers have already walked away with the money. However, there is still a glimmer of hope as PeiPei Coin has nearly 800 holders at the time of writing, showing nearly half the investors have already gotten out.

Also Read: PepeAI Surges 1000% Since Launch: Possible Pump & Dump?

Time will eventually be the judge of PeiPei like everything else. Everyone, especially the PeiPei investors should grab on to their seatbelts, cuz its going to be a helluva bumpy ride.

DISCLAIMER:

This piece is for educational purposes and not financial advice. Investors should be careful when dealing with this project and do their own research before investing.

Go here to read the rest:

PeiPei Coin Pumps 90000% Overnight! Possible Pump & Dump? - Crypto Times