Is $WEPE a Scam ?
Alright, listen up. Let’s cut through the noise because some of you are throwing around the word “scam” like it’s a universal excuse for not understanding what you invested in.
First of all, if you’re the type who panic-sells at the first sign of red, this post isn’t for you. Go back to watching TikTok price predictions and blaming market makers for your losses.
For the rest of you actually trying to understand what’s happening, let’s break this down. I’m tired of seeing people yell “honey pot” and “rug pull” every time a chart moves against them. It’s embarrassing. Let’s talk facts.
What Even Is a Crypto Scam?
There are two main ways a project can actually scam you. If you don’t know these, stop investing until you do.
1. The Honey Pot Scam
This is straight-up theft—no sugarcoating it. Here’s how it works:
A honey pot scam in crypto is when you can buy a token, but you can’t sell it. The developers set up the smart contract in a way that only certain wallets (usually their own) have permission to sell. So, investors keep buying, thinking the price is going up, but when they try to cash out, they realize they’re stuck. Meanwhile, the scammers drain all the money from the project and disappear, leaving you with worthless tokens. If you can’t sell a token after buying it, you’ve been trapped in a honey pot scam.
If this happens, congrats—you got robbed in broad daylight.
2. The Rug Pull
This one’s more common, and yet, most of you still misuse the term.
A rug pull is when developers hype up a crypto project, get people to invest, and then suddenly sell off all their own tokens, crashing the price. It usually happens when the team holds a huge portion of the supply. At first, everything looks great—the price goes up, more investors jump in—but then the devs dump their tokens all at once, take all the money, and vanish. The project is abandoned, the price drops to near zero, and investors are left with worthless bags. If a token’s price suddenly crashes because the insiders sold everything, you just witnessed a rug pull.
That’s a rug pull. But just because a token dumps doesn’t mean it’s a rug. That’s just how markets work.
Is WEPE a Honey Pot?
No.
Here’s why: The contract is public and verified.
📜 Contract Address: 0xccB365D2e11aE4D6d74715c680f56cf58bF4bF10
Go paste that into Etherscan. If you don’t know how, you’re already in over your head. Figure out how to read a smart contract before you throw money at one.
Also, Upon checking Webacy’s DYOR tool, and the contract for 0xccB365D2e11aE4D6d74715c680f56cf58bF4bF10 doesn’t show honeypot characteristics. That means you can buy and sell the token after it’s lunch —it’s not locked in a way that traps your funds forever.
But hold on. That doesn’t mean it’s risk-free.
Here’s where things get tricky. While $WEPE isn’t a honeypot, it does have a high sell tax. That means when you try to sell, a big chunk of your tokens will be deducted as tax before you actually get your money.
The Catch: High Sell Tax
High sell taxes can be a problem if you’re looking for quick trades because the more you sell, the more you lose to fees. It’s a tactic some meme coins use to discourage early selling and keep liquidity stable—but it also means you need to be extra cautious before jumping in.
Is WEPE a Rug Pull?
That’s the big question, right?
Here’s what we know:
- Over 110,000 wallets hold WEPE.
- There is one big whale wallet that raised some eyebrows.
- The rest? Spread out pretty well.
If this was a textbook rug, you’d see the dev wallets owning the majority of the supply. Unless they’re super sneaky and spread their tokens across hundreds of wallets (which is possible), this doesn’t look like an obvious rug pull.
According to an audit by Coinsult, the $WEPE token’s smart contract doesn’t have functions that would allow developers to mint new tokens or blacklist users. This suggests that the contract itself doesn’t have built-in mechanisms for a rug pull.
Will the Devs Just Take the Money and Disappear?
Now this is where it gets trickier. Marketing and exchange listings cost money. If the devs don’t push for CEX listings or continue marketing, then yeah—this could fade into nothing.
But here’s what you need to understand:
- Getting a coin on a centralized exchange (CEX) isn’t instant.
- CEXs review tokenomics, check dev backgrounds, and screen for fraud.
- If a dev has a history of scamming people, they won’t get listed.
And here’s a reality check: Devs can’t legally talk about CEX negotiations. It’s part of the NDA process. If they say “we’re in talks with Binance,” guess what? They just killed their chances of getting listed.
So no, them being quiet about it isn’t a red flag. It’s just how the process works.
Who’s Behind WEPE?
According to their whitepaper, the core team and advisors are staying anonymous. They mention being vetted by the directors at Otonom Ltd., with development handled by their internal team and Web3Payments. But here’s the kicker: there’s no detailed info about these entities or the people behind them. Anonymity in crypto isn’t unheard of, but it does raise some eyebrows, especially when there’s a lot of cash involved.
Possible Connections:
Some folks have noticed that Wall Street Pepe shares similarities with other projects like Pepe Unchained and Flockerz. The websites, graphics, and even the marketing vibes are pretty alike. This has led to speculation that companies like Clickout Media and Finixio might be pulling the strings behind the scenes. While there’s no solid proof linking them, the patterns are hard to ignore.
The Myths vs. The Truth
❌ Myth: WEPE is from the same team as Pepe Unchained, Crypto All Starz, and Best Wallet.
✅ Truth: The devs have denied any connection to those projects.
What’s more likely? They hired the same web development and marketing teams. That’s why the sites look similar. It doesn’t mean it’s the same devs.
Also, none of those projects were honey pots or rug pulls. They were just meme coins that didn’t take off.
Welcome to crypto.
So, Will WEPE Succeed?
Let me be real with you—if any of us truly knew that, we’d all be driving Lambos already.
Here’s what makes WEPE interesting:
✔ It’s catchy.
✔ It’s culturally relevant.
✔ It has decent exposure and already raised $65 million in its presale.
And here’s the downside:
🚨 Meme coins live and die by hype.
🚨 No dev is guaranteed to deliver.
🚨 Even if it’s not a scam, it could still fail.
This is not financial advice. But if you’re gonna invest in meme coins, at least understand what you’re buying.
Disclaimer: This article is for educational purpose only and it is not financial advice . Investing in cryptocurrencies and stocks involves significant risk, and you should conduct your own research or consult a financial advisor before making any investment decisions.
