PeepCoin dropped from 20 Satoshi to 1 Satoshi after the promise of a potentially profitable coin exchange was not realized. PeepCoin investors suffered a 95 percent loss.
PeepCoin (PCN) was a digital charge that was traded under 1 cents, even under 1 Satoshi before the price went up in May and June. The price of PCN saw the summit with 20 Satoshi on June 22nd. However, it experienced a dramatic loss of 95% due to the fact that promised asset swaps could not be realized.
In the last few months, PCN has promised the community a new digital presence called Dappscoin. The DAPPS Project, a long-lasting activity, has created a community that expects PCN's (and later Dappscoin) prices to increase by an order of magnitude when assets are traded as promised.
The problem was that this clearing did not happen and then panic sales suddenly dropped the price.
The DAPPS Project team made a statement about why it broke a deal with PCN listed on Cryptopia a few days ago. The team announced that it discovered a number of wallets that could theoretically affect the market price in the statement. One of these purses belongs to an old PeepCoin developer, and this person is said to be the enemy to the new team.
The DAPPS Project has done a lot of damage to itself and PeepCoin with this decision. The project is currently planning to raise funds to negotiate a new project and offer a product, but people believe that this idea will never come into being when it gets smudged.
