beehiiv-import

⚡Pepe Rug Pull Rumblings🐸

Croxroad

28 Aug 2023 — 3 min read

☕️ GM Dear Plebs!

Here is Crox Road, your daily dose of orange pill that will turn you into a Bitcoin Maxi.

The menu for today:

🐸 Pepe's Leaping Loss:From Memecoin Marvel to 15% Plummet

Pepe, the frog-themed memecoin, just took a 15% nosedive in its price, down to a tiny value of $0.000001. Why? The folks behind Pepe made some changes to their wallet and moved a whopping $16 million worth of Pepe tokens to different crypto exchanges. This sudden move has people worried about a 'rug pull,' which is when the creators bail out and crash the price. Meme coins can offer exciting opportunities for short-term gains, they also come with much higher risks. Bitcoin, on the other hand, is a more established and recognized cryptocurrency with a longer history and broader acceptance. Your choice should align with your investment goals and risk tolerance. So always go for King in the town, Bitcoin👑.

Safe Global, this app tells us that a bunch of Pepe tokens got moved around. These Pepe tokens make up about 3.8% of all the Pepe tokens that exist.

These tokens went to three different places where people trade them. One place got tokens worth $8.2 million, another got tokens worth $6.5 million, and a third got tokens worth $434,000. Oh, and some more tokens, worth $400,000, went to a place that's not even confirmed or checked yet.

After those 16 trillion Pepe tokens were sent to those trading places, the people who made Pepe did something interesting. They made a change to their special wallet. This wallet still has Pepe tokens worth $10 million in it.

Before, they needed five people's approval to use the wallet, like five friends agreeing on something. But now, they only need two people to say 'yes' out of a total of eight. It's like they made it easier for them to move their Pepe tokens around. Sounds fishy? What can you expect from a coin with no fundamentals?

Bitcoin has gained acceptance among institutional investors, financial companies, and even governments as a legitimate asset. So why settle for less!

🐻 BTC Market Review: Week in Focus

This week, there's been a battle between buyers (bulls) and sellers (bears) in the cryptocurrency market. While some cryptos gained value, others dropped. Bitcoin (BTC) saw a 0.3% increase, trading at $26.15K, with a market cap of $509 billion and $6.4 billion in trading volume.

This week, Bitcoin's volatility remained steady, reflected by the Bollinger bands narrowing. The relative strength indicator is below its average, suggesting bearish control, while the MACD indicator in the red zone indicates the week's impact of bears on BTC.

👸 Bitcoin vs. Bank Transfer

Banks offer various ways to handle your money, whether you're using a computer or actually visiting a bank. However, they do ask for a fee for certain services. There are different types of transactions like sending money out, receiving money in, doing transactions within your country (domestic), or across different countries (international). The amount they charge depends on the kind of transaction. Also, the fee can be more if there's a lot of money involved. Sometimes, businesses can access the money they receive right away.