The cryptocurrency whose value has fallen by 86% after rumors of fraud is named

The value of the WSB memecoin dropped by 86% after analysts from PeckShield and other companies reported that the project’s developers had carried out a rug pull fraud scheme.

WSB Coin is a memtoken that was considered the official coin of the WallStreetBets Reddit community, which gained popularity due to its participation in the GameStop (GME) pump. WSB attracted the attention of the crypto community due to a sudden price spike: in just one day, the token rose by 320%.

PeckShield analysts said that two wallets have so far sold about $ 650,000 in WSB for ETH. The WallStreetBets community has been actively involved in the investigation of the incident. The former moderator of the WallStreetBets Reddit community tweeted that he would file a report with the police and the FBI if the developer of the WSB coin did not contact him. ZachXBT also said that it is following the developments around the memcoin.

Another memtoken that has seen a sharp rise in value (and may also collapse) is Wojak. The value of the digital asset increased by 690% in just a week. According to the developers of WOJAK, their cryptocurrency project offers users the opportunity to explore the world of memes, including buying and selling them through a decentralized network. The inspiration for WOJAK was the cult internet meme of the same name in the form of a drawing with the face of a sad man.

The growth of WOJAK coincided with the rise of another meme token called PEPE. PEPE reached a new all-time high, rising 39,000% since its launch.