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News Explorer — Pepecoin Rally Slows, SUI Token Drops 11% Amid Tokenomics Concerns

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May 8, 10:32 am
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Pepecoin Rally Slows, SUI Token Drops 11% Amid Tokenomics Concerns

The meme coin rally of Pepecoin (PEPE) appears to have slowed, with a 11% drop this morning. Despite this, the coin has seen a 215% rise over the week. Binance's Innovation Zone listing of PEPE and Floki Inu (FLOKI) helped fuel the rally. Sui network's native SUI token also dropped 11% overnight, likely due to the massive gains for 96,000 community members who purchased 1,500 SUI tokens for $45 and may now be taking profits. Concerns have been raised about tokens allocated to market makers and investors, with 75% of the token's initial circulating supply allocated to market makers and 44% to the team, investors, and early contributors.

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