Latest Crypto News: Pepe Plummets, Crypto Whale Loses $600,000; Pudgy Penguins Signs With WME

Here are some of the major developments from the world of crypto over the past few days
Latest Crypto News: Pepe Plummets, Crypto Whale Loses $600,000; Pudgy Penguins Signs With WME

A meme coin whale who purchased roughly $3 million worth of the Pepe token just days ago is now sitting on an unrealised loss of around $600,000.

Only days after hitting an all-time high on May 6, 2023, the price of the brand-new Meme coin Pepe (PEPE) has fallen more than 42 per cent, leaving at least one investor with hundreds of thousands of dollars in paper losses.

One cryptocurrency ‘whale’ purchased 962.3 billion Pepe tokens on May 5, 2023 for an average price of $0.000003122 using 70 Wrapped Bitcoin (WBTC) and 470 Ether (ETH). But since then, PEPE has decreased by 42 per cent from its peak, according to CoinGecko. The PEPE holdings of the crypto investor are currently valued at only $2.4 million, representing an unrealised loss of more than $60,000.

Pudgy Penguins Signs With WME

Pudgy Penguins, a high-profile non-fungible token (NFT) initiative, has agreed to be represented by renowned Hollywood talent agency William Morris Endeavour (WME).

Pudgy Penguins is aiming to expand its intellectual property across film, television, and gaming, according to a Tweet on May 5, 2023. Pudgy Penguins is the latest high-profile NFT endeavour to seek Hollywood representation partnerships to broaden their brands and audiences. Other NFT-related customers of WME include co-founder of Dapper Labs, Mack Flavelle, the Boss Beauties initiative, NFT artist going by the alias FEWOCiOUS, and artist Claire Silver.

Data from CryptoSlam shows that Pudgy Penguins is the 21st most popular NFT project of all time. It has produced $250.2 million in revenue on secondary markets since its inception in July 2021.

A ‘Shitcoin’ Can Now Be Created In Under 23 Seconds

A cryptocurrency with little to no value, or a virtual currency with no obvious, immediate use is referred to as a ‘shitcoin’. Now, a new ‘speedrun’ video shows how anyone can create a brand-new cryptocurrency in less than 30 seconds.

A viral video has emerged explaining how simple it is for anyone with an Internet connection to create a brand-new cryptocurrency from scratch. Meme coins have recently attracted the attention of the larger cryptocurrency industry.

Digital artist Johnny Shankman, also known as whitelights.eth on Twitter, created and deployed an entirely new token, jokingly called "EASY_MONEY," in just 27 seconds in a ‘speed run’ on May 6, 2023.

The record was then surpassed the next day with a time of 22.45 seconds. The phrase ‘speed run’ comes from the gaming world and refers to beating a level or game in the shortest amount of time feasible.

Related Stories

No stories found.
Outlook Business & Money