Due to the increasing attention on meme coins, several new tokens have emerged in the crypto space. One of such is PepeDerp, a meme coin combining the characters of Pepe the Frog and Derp Face. It was launched on May 21, 2023 and recorded more than 200% gains a few days after. But, CoinMarketCap attached a warning regarding the porosity of PepeDerp’s smart contract. This raises the question, is PepeDerp a scam?
To answer this, there are certain red flags that indicate PepeDerp could be a scam. Firstly, the information from PepeDerp’s official website refers to the native token as $DERPEPE instead of $PEPEDERP. Also, the project has no whitepaper and no KYC requirement for purchasing the token. Additionally, PeckShield