Capitalization of "token-meme" PEPE exceeded $1 billion

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Another "hype token-meme" PEPE continues to gain momentum - the token's rate increased by 45% per day, and its capitalization exceeded $1 billion.At the same time, the token contract has an address blocking function.

Yesterday, the token was trading at $0.0000022, and on the evening of May 5, the price reached $0.0000042, that is, an increaseNow, however, the exchange rate has slightly decreased and isHowever, the total capitalization of PEPE exceeded $1.2 billion, which allowed the token to reach 42nd place in the CoinMarketCap ranking.

Interestingly, the developers have added a function to block addresses.Even developers cannot unblock it, since the owner of the smart contract has changed.However, they can no longer add the address to the blacklist.

Moreover, this function has already been used - 2 hours after the launch of PEPE, a certain address bought 2.5 trillion tokens, which at the current exchange rate exceeds$8 millionIn 10 minutes after the purchase, the developers blocked this address.Perhaps we are talking about some kind of insider trading, so the developers of the "memetic token" decided to block this address.

The problem is that the contract verifies that there is noThis adds a small amount of gas required to conduct the transaction and, accordingly, a fee.

It is also worth noting that the PEPE smart contract has a token burning function, butThat is, the number of circulating tokens can only decrease.

Recently, cryptocurrency analysts have discovered several addresses that run fraudulent "memetic tokens" on a daily basis.