PEPE price recovery fazed by split in the meme coin’s team and Telegram account hack

PEPE, a frog-themed meme coin, that recently made headlines for differences between the founding team members and the theft of nearly $15 million wort

price is winding at the $0.00000079 level. Since the security incident and the theft of $15 million in PEPE tokens, the meme coin’s downward trend led the price to $0.00000079, down from its July 3 local peak at $0.0000018. The theft incident and the dispute between the former and current team, alongside the Telegram account hack are likely fueling a bearish sentiment among holders, making a PEPE price recovery less likely.

Stablecoins are cryptocurrencies designed to have a stable price, with their value backed by a reserve of the asset it represents. To achieve this, the value of any one stablecoin is pegged to a commodity or financial instrument, such as the US Dollar , with its supply regulated by an algorithm or demand. The main goal of stablecoins is to provide an on/off-ramp for investors willing to trade and invest in cryptocurrencies.

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