Pepecoin (PEPE), a meme coin that recently entered the top 100 cryptocurrencies by market cap, has fallen by nearly 11% as of May 9, following a week of impressive gains of 215%. The rally was helped along after Binance listed PEPE in its Innovation Zone, which is meant to host hyper-volatile cryptocurrencies. Meanwhile, Sui network's native SUI token also dropped 11% overnight due to selling pressure, as the token saw massive gains for around 96,000 community members who purchased 1,500 SUI tokens for $45. However, analysts have raised concerns about tokens allocated to market makers and investors, with market makers allocated 75% of the token's initial circulating supply and around 44% of the total supply allocated toward the team, investors, and early contributors.
(By Nivesh Rustgi)
