Unveiling the $PEPE Token Heist, Cardano's Phase Shift, and Bitgert's Optimism

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$PEPE cryptocurrency community has been swindled by three of Pepe’s founding members who exploited the multi-signature transfer system. This maneuver allowed Pepe founders to extract a staggering 60% of the Pepe Coin’s value, totaling around $15 million USD. Pepe Coin was stealthily moved to various exchanges and quickly sold off, leaving the Pepe community in shock.

The breach highlights the vulnerability of multi-signature wallets and raises questions about governance in the crypto space. The remaining $PEPE team and Pepe community now confront the fallout of this breach, emphasizing the need for enhanced security and transparency across blockchain projects. Pepe Coin took at severe hit of 26% after the news broke out, leaving Pepe in a vulnerable position in the market.

Cardano (ADA) and Bitgert (BRISE) have been showing different trends lately. Cardano is likely entering the depression phase of its market cycle, while Bitgert is still in the optimism phase. Cardano has been struggling to stay above its 20-week MA, which is a sign of weakness and a possible precursor to a prolonged downtrend.

Cardano is currently below its fair value, as measured by the logarithmic regression band, and that its risk metric is very low, indicating that investors are not expecting much upside potential. However, Cardano is gearing up for its Voltaire phase. Cardano would introduce a governance mechanism enabling Cardano (ADA) holders to influence the project's path.

Despite encountering critique, Cardano remains resolute in advancing the Cardano network. The Cardano community eagerly anticipates the rollout of the latest L2 Hydra upgrade, which is poised to substantially elevate the platform. This anticipated Cardano Hydra update is set