{"id":528443,"date":"2023-04-25T11:00:02","date_gmt":"2023-04-25T11:00:02","guid":{"rendered":"https:\/\/uniquehot.com\/?p=528443"},"modified":"2023-04-25T11:00:06","modified_gmt":"2023-04-25T11:00:06","slug":"pepe-coins-mega-rise-pinned-to-this-smart-contract-fix","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/pepe-coins-mega-rise-pinned-to-this-smart-contract-fix\/","title":{"rendered":"Pepe Coin\u2019s Mega Rise Pinned To This Smart Contract Fix"},"content":{"rendered":"

Pepe Coin (PEPE) is soaring and has become one of the most popular meme coins behind Dogecoin and Shiba Inu.\u00a0<\/span><\/p>\n

However, this wouldn\u2019t have been the case if the Pepe Coin smart contract deployer had not chosen to do what was good for the project and, by extension, the community. <\/span>The team renounced the deployer contract, sending it to a null address.\u00a0<\/span><\/p>\n

Doing this meant no one could tamper with the smart contract and effect changes that could destroy the meme coin\u2019s credibility.<\/span><\/p>\n

Intervening For Credibility<\/span><\/strong><\/h2>\n

According to curious online\u00a0<\/span>sleuths<\/span><\/a>, the deployer of Pepe Coin smart contracts had \u201cgod-like\u201d powers before changes were made.\u00a0<\/span><\/p>\n

For example, the team could limit the number of token transactions, modify the maximum token trading amount, the maximum position a trader can initiate, or even suspend trading of a given address. Moreover, the smart contract included a black listing function. Subsequently, this effectively empowered the team to bar certain addresses from holding and trading the token.<\/span><\/p>\n

Related Reading: PepeCoin (PEPE) Rallies By 42% As Interest In Memecoins Rises<\/a><\/div>\n

With this, observers noted that Pepe Coin, though popular, wasn\u2019t decentralized as many thought and project owners could, at any time, rug pull investors.\u00a0<\/span><\/p>\n

A rug pull is a common scam in decentralized finance (DeFi) where a team builds a project, in this case, Pepe Coin, convinces users to supply liquidity and buy the token. Afterward, the team leaves the project and sells their portion forcing prices lower and leaving investors holding mud.\u00a0<\/span><\/p>\n

The possibility of the team pulling out a rug pull was plugged when the deploying smart contract was <\/span>sent<\/span><\/a>\u00a0to a null address on April 14.<\/span><\/p>\n

The Rise Of Pepe Coin<\/span><\/strong><\/h2>\n

Pepe Coin is a meme coin that has no utility. Instead, the team behind the project aimed to ride on \u201cPepe the Frog,\u201d created in 2005 by Matt Furie.\u00a0<\/span>The meme coin project has no connection to Furie.\u00a0<\/span><\/p>\n

Pepe Coin was launched in mid-March and with little fanfare. There was no presale, and the total supply was 420.69 trillion.\u00a0<\/span>Days after launching, Pepe Coin exploded to be one of the most popular meme coins.\u00a0<\/span><\/p>\n

The token has surged to command a market cap of over $105 million. It has a slot in the top 300 projects by market capitalization, according to the coin tracker,\u00a0<\/span>CoinGecko<\/span><\/a>.\u00a0<\/span><\/p>\n

Related Reading: Can Meme Coin PEPE Get Into The Top 100? Read This Before Buying<\/a><\/div>\n

At the same time, 93.1% of all PEPE in circulation were\u00a0<\/span>sent<\/span><\/a> to a liquidity pool in Uniswap, and liquidity provider (LP) tokens were burnt. The remainder is reserved for centralized exchange listing and other initiatives. <\/span><\/p>\n

Uniswap is one of the world\u2019s largest decentralized exchanges facilitating the trading of tokens like PEPE, including non-fungible tokens (NFTs) on Ethereum and layer-2 protocols like Arbitrum.\u00a0<\/span><\/p>\n

Feature Image From Canva, Chart From TradingView<\/div>\n","protected":false},"excerpt":{"rendered":"

Pepe Coin (PEPE) is soaring and has become one of the most popular meme coins behind Dogecoin and Shiba Inu.\u00a0 However, this wouldn\u2019t have been the case if the Pepe Coin smart contract deployer had not chosen to do what was good for the project and, by extension, the community. The team renounced the deployer contract, sending it to a null address.\u00a0 Doing this meant no one could tamper with the smart contract and effect changes that could destroy the meme coin\u2019s credibility. Intervening For Credibility According to curious online\u00a0sleuths, the deployer of Pepe Coin smart contracts had \u201cgod-like\u201d powers before changes were made.\u00a0 For example, the team could limit the number of token transactions, modify the maximum token trading amount, the maximum position a trader can initiate, or even suspend trading of a given address. Moreover, the smart contract included a black listing function. Subsequently, this effectively empowered the team to bar certain addresses from holding and trading the token. Related Reading: PepeCoin (PEPE) Rallies By 42% As Interest In Memecoins Rises With this, observers noted that Pepe Coin, though popular, wasn\u2019t decentralized as many thought and project owners could, at any time, rug pull investors.\u00a0 A rug pull is a common scam in decentralized finance (DeFi) where a team builds a project, in this case, Pepe Coin, convinces users to supply liquidity and buy the token. Afterward, the team leaves the project and sells their portion forcing prices lower and leaving investors holding mud.\u00a0 The possibility of the team pulling out a rug pull was plugged when the deploying smart contract was sent\u00a0to a null address on April 14. The Rise Of Pepe Coin Pepe Coin is a meme coin that has no utility. Instead, the team behind the project aimed to ride on \u201cPepe the Frog,\u201d created in 2005 by Matt Furie.\u00a0The meme coin project has no connection to Furie.\u00a0 Pepe Coin was launched in mid-March and with little fanfare. There was no presale, and the total supply was 420.69 trillion.\u00a0Days after launching, Pepe Coin exploded to be one of the most popular meme coins.\u00a0 The token has surged to command a market cap of over $105 million. It has a slot in the top 300 projects by market capitalization, according to the coin tracker,\u00a0CoinGecko.\u00a0 Related Reading: Can Meme Coin PEPE Get Into The Top 100? Read This Before Buying At the same time, 93.1% of all PEPE in circulation were\u00a0sent to a liquidity pool in Uniswap, and liquidity provider (LP) tokens were burnt. The remainder is reserved for centralized exchange listing and other initiatives. Uniswap is one of the world\u2019s largest decentralized exchanges facilitating the trading of tokens like PEPE, including non-fungible tokens (NFTs) on Ethereum and layer-2 protocols like Arbitrum.\u00a0 Feature Image From Canva, Chart From TradingView<\/p>\n","protected":false},"author":384,"featured_media":528445,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[7,84471,88145,88163,83667],"class_list":["post-528443","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-dogecoin","tag-meme-coin","tag-pepe","tag-pepe-coin","tag-shiba-inu"],"acf":[],"yoast_head":"\nPepe Coin\u2019s Mega Rise Pinned To This Smart Contract Fix<\/title>\n<meta name=\"description\" content=\"Pepe Coin is soaring and has become one of the most popular meme coins but it was mainly because of 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His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape. His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto. The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance. His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry. Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion. Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers. DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations. Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language. Dalmas is here to help make the tech easy to understand and digestible, even for beginners. The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential. This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting. Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature. When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills. You can connect with Dalmas on X: @Dalmas_Ngetich, or contact him on Telegram @Dalmas_Ngetich.","sameAs":["https:\/\/www.linkedin.com\/in\/dalmas-ngetich-40a67a147\/","https:\/\/x.com\/Dalmas_Ngetich"],"url":"https:\/\/uniquehot.com\/author\/dalmasngetich\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Pepe Coin\u2019s Mega Rise Pinned To This Smart Contract Fix","url":"http:\/\/uniquehot.com\/news\/pepe-coins-mega-rise-pinned-to-this-smart-contract-fix\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/pepe-coins-mega-rise-pinned-to-this-smart-contract-fix\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/04\/PEPE-Coin-1.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/04\/PEPE-Coin-1.jpg?fit=1380%2C780"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Dalmas Ngetich"}],"creator":["Dalmas Ngetich"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["dogecoin","meme coin","pepe","pepe coin","shiba inu"],"dateCreated":"2023-04-25T11:00:02Z","datePublished":"2023-04-25T11:00:02Z","dateModified":"2023-04-25T11:00:06Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Pepe Coin\\u2019s Mega Rise Pinned To This Smart Contract Fix\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/pepe-coins-mega-rise-pinned-to-this-smart-contract-fix\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/pepe-coins-mega-rise-pinned-to-this-smart-contract-fix\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/04\\\/PEPE-Coin-1.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/04\\\/PEPE-Coin-1.jpg?fit=1380%2C780\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Dalmas Ngetich\"}],\"creator\":[\"Dalmas Ngetich\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"dogecoin\",\"meme coin\",\"pepe\",\"pepe coin\",\"shiba inu\"],\"dateCreated\":\"2023-04-25T11:00:02Z\",\"datePublished\":\"2023-04-25T11:00:02Z\",\"dateModified\":\"2023-04-25T11:00:06Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/04\/PEPE-Coin-1.jpg?fit=1380%2C780","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/528443"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/384"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=528443"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/528443\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/528445"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=528443"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=528443"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=528443"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}