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Pepina: A Cautionary Tale of Concentration

Here we observe the skeletal remains of pepina, a token that achieved the remarkable feat of being simultaneously dead and alive—much like Schrödinger's rugpull, had anyone bothered to check. With 99.8% of its meager $2,597 liquidity pool controlled by a mere handful of holders, this creature never stood a chance; it was less a decentralized token and more a poorly executed vanity project masquerading as finance. The irony, of course, is that revoking mint and freeze authorities provided the illusion of safety to a vessel already gutted from within.