According to on-chain analyst Yazan, insider selling of PEPE holdings has begun, with approximately 400 billion PEPE sold, coinciding with Pauly's exposure of Pepecoin team members. In response, Yazan called on cryptocurrency exchanges such as Binance and OKEx to take measures to prevent insider trading. Due to the team's sell-off, the price of Pepecoin has seen a bearish trend, dropping 15%. Although the PEPE price briefly rose 10%, it failed to maintain its upward momentum and continued to fall, exacerbating negative sentiment in the community. According to CoinMarketCap data, as of the writing of this article, the PEPE price is $0.00000090, down 7% in the past 24 hours.

August 26th, the official PEPE account announced on social media that its official Telegram group has been disabled and the group owner's account has been hacked. In the process of trying to regain access or create new access, the official Twitter account is the only official information channel. In addition, the remaining 10.6 trillion PEPE coins in the original multi-signature address have been transferred to a new address.

According to OKX market data on August 26th, after PEPE officially announced the truth about the coin selling event, PEPE briefly rose more than 12%, now priced at 0.00000091 US dollars. Earlier, PEPE officials released a statement today revealing the truth behind the multi-signature sale of 16 trillion PEPE coins yesterday, stating that the remaining 10 trillion PEPE coins are safe.

PEPE officially released a tweet revealing the truth about the sale of 16 trillion PEPE tokens yesterday. According to PEPE, since its establishment, the project has been plagued by internal conflicts. Most of the team members who were involved in the project at the beginning began to distance themselves from it after the first week of launch. These members hindered the team's progress in using a multi-signature wallet for token donations or purchases due to the inability to sign, differences in opinions, and several weeks of being unreachable. The multi-signature setting requires 3/4 of the signers to be present to obtain approval.

The market shows that PEPE has fallen to around 0.0000008 US dollars in the short term, and is now reporting at 0.0000008216 US dollars, with a daily decline of more than 22%. The market is volatile, so please be prepared for risk control. Previously,early this morning, the PEPE team transferred 15.08 million US dollars worth of PEPE tokens to DEX from a multi-signature address, and changed the multi-signature wallet threshold from 5/8 to 2/8.

on August 25th, due to the impact of PEPE's plunge, Meme tokens fell today, with mainstream currencies falling more than 15% in 24 hours, including: PEPE is now priced at $0.0000008712, down 17.92% in 24 hours; HarryPotterObamaSonic10Inu is now priced at $0.09384, down 16.91% in 24 hours; MOG is now priced at $0.000000045287, down 26.6% in 24 hours.

According to the OKX market, PEPE's 24-hour decline reached 20.64%, now reporting 0.0000008747 USDT. Earlier news, the PEPE multi-signature wallet threshold was changed from 5/8 to 2/8, and over 16 trillion PEPE were transferred to CEX.

According to KOL PAULY, who has over 150,000 followers on X (formerly Twitter), the true identity of the founder of PEPE is Zachary Testa, who currently resides in Arizona and is active on social media under the usernames z (@degenharambe) and Lord Kek (@LordKekLol). Zachary Testa was born in 1997, graduated from Arizona State University in 2018, and is now a professional photographer.

The price of Pepe, a memecoin with a frog theme, has dropped by almost 15% due to concerns of a "rug pull" by its developers following changes to a multisig wallet and new token transfers. On August 24, $16 million worth of Pepe tokens were sent from the developers' multisig wallet to various crypto exchanges.

According to Spot On Chain monitoring, Multisig 0x5Bd address has deposited 16 trillion PEPE into 4 different CEXs - OKX, Binance, Bybit, and Kucoin - at an average price of 0.0000001015 USD (16.29 million USD) in the past 3 hours. After the deposit, the price of PEPE seems to have dropped by 10.5%. The address currently still holds 10.69 trillion USD worth of PEPE (10.04 million USD).