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On-Chain Investigation Reveals Deflationary Nature of PEPE Meme Coin

An on-chain investigation of the PEPE contract code has revealed that the meme-inspired token is deflationary in nature, with an in-built burn functionality that can reduce its circulating supply. The investigation also found that the contract code prohibits the minting of more tokens, making PEPE a deflationary asset.

The contract deployer has blacklisted an address belonging to a pioneer adopter who purchased over 2.5 trillion tokens, and renounced ownership of the contract, locking up $7.6 million worth of PEPE tokens in the address forever. Despite the burn functionality, there is limited information on how the token can be burned, leading to speculation among proponents. PEPE's inter-day rally has hit a roadblock, with the asset currently down 5.7% in the past 24 hours.

PepeSol PepeSol $0.00
-17.68%
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