The pursuit of discovering the next big investment opportunity is a universal aspiration. In a remarkable turn of events, #PEPE2 has skyrocketed by an astonishing 1000% in a single day. However, a closer examination of on-chain data sheds light on the underlying dynamics at play.
By leveraging the insightful tool of Bubblemaps, we gain valuable insights into the intricate web of #PEPE2 holders and their interconnectedness.
A comprehensive analysis reveals that 50 wallets are linked through ETH transfers, all leading back to a central wallet.
This discovery raises compelling questions about the implications of these connections.
Upon delving deeper into the investigation, it came to light that the central wallet in question belongs to none other than MEXC, a prominent cryptocurrency exchange.
Interestingly, MEXC had recently announced the listing of #PEPE2, thus establishing a plausible explanation for the existence of this cluster of interconnected wallets.
This phenomenon can be seen as a positive sign, suggesting that these connected wallets likely belong to legitimate users of the MEXC platform.
However, a significant cluster remains that warrants further scrutiny.
The entity responsible for deploying #PEPE2 tokens transferred a substantial amount, totaling 34 trillion tokens, to the wallet address 0xc55a.
Subsequently, this address distributed tokens to numerous wallets. While a portion of these wallets has engaged in selling activities, a majority of them continue to hold the tokens, creating an intriguing situation.
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