A press release by the PEPITO team said that the project has attracted the attention of many investors due to the hype around the token. It stated that it was inspired by the PEPE token, even though on its own, it has a lot to offer.
Built on the Binance Smart Chain (BEP-20), the team stated that the holders of the token are rewarded based on the volume of trades that the community and holders carry out and then the tax distribution based on these trades.
A low-cap meme coin
The project, which was launched in April, claims to be completely decentralized, and so the team behind it does not run things at this moment. The release stated that transparency and trust are at the center of the Pepito project.
At Coinmarketcap, the token is ranked number 5820 by market cap. It has a market cap of $105,287 and a 24-hour trading volume of $3,483. The volume is actually up by 27.6% in the last 24 hours. This may be something or nothing, since low-cap tokens are easier to pump.
Pepito wants to promote organic growth, establish itself as a leading cryptocurrency, and introduce practical applications. The initial supply of Pepito tokens was one billion (1,000,000,000). Over 4% of the supply has already been burnt, eliminating it entirely from circulation, and more will be consumed over time. The “Supply vs. Demand” effect, in principle, causes this to raise the value of each token held over time. The following is the current tax distribution: 10% sell tax and 1% buy tax.
A high-risk token
Pepito’s team stated that they encourage open communication. A scan of the project’s contract address, 0xb2cb83e8e1b326373b7f1068d10c50ebfa04f070, shows that it is a high risk token.
The De.Fi scanner gave the token a score of 25/100, with 2 high-risk items and 11 issues requiring attention. The implication is that PEPITO is a high-risk token to invest in at the moment due to the exploitable weaknesses in its contract.