Another “hype token-meme” PEPE continues to gain momentum – the token exchange rate has grown by 45% in a day, and its capitalization has 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, the growth was almost 100%. Now, however, the rate has slightly decreased and is $0.0000033. However, the total capitalization of PEPE exceeded $1.2 billion, which allowed the token to reach 42 places in the CoinMarketCap ranking.
Interestingly, the developers have added an address blocking feature. When using this function, the user who bought the token will not be able to sell, exchange or withdraw it. Even developers cannot cancel the lock, as the owner of the smart contract has changed. True, they can no longer add the address to the black list.
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 rate exceeds $8 million. Within 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 checks for each transaction to see if the author of the transaction is blacklisted. This adds a small amount of gas required to complete the transaction and, accordingly, a fee.
It is also worth noting that the PEPE smart contract has the function of burning tokens, but there is no release function. That is, the number of circulating tokens can only decrease.
