Crypto News: THEO Crashes 92% After Bridge Exploit as Traders Pick Pepeto Over Shiba Inu and Pepe

Tokenwire

Published: October 15, 2026

Crypto News: THEO Crashes 92% After Bridge Exploit as Traders Pick Pepeto Over Shiba Inu and Pepe

This week's crypto news was a reminder of how fast a token can collapse. Autheo's THEO fell about 92% in a day after 19 million new tokens appeared on Base, per PeckShield data cited by crypto.news.

Meme coins keep pulling in buyers anyway, and history explains why. Pepe passed a $1.6 billion value in under three weeks after its 2023 launch, per Fortune, and Shiba Inu turned tiny stakes into fortunes in 2021.

THEO's crash raises a basic question: can tokens be created out of nothing? It is also why traders are looking hard at Pepeto, the meme coin led by the original Pepe's cofounder. Its presale has passed $11.1 million, and its bridge was built so that never happens.

What Happened to THEO? A Suspected Bridge Exploit Minted 19 Million Tokens

THEO dropped about 92% within 24 hours on October 12, PeckShield reported. A suspected bridge exploit minted 19 million new tokens on Base, and the attacker swapped them for 700.8 ETH, about $1.76 million.

Only about $45,000 was left in the main THEO trading pool afterward, according to The Cryptonomist. Autheo asked holders not to trade or bridge THEO while the cause is still unclear.

Stories like this send traders back to one rule: a token that can be minted from nothing can be drained in hours.

Crypto News Puts Meme Coins on Trial: Pepeto, Shiba Inu and Pepe Side by Side

1. Pepeto: A Bridge That Creates No Token Without a Locked Match

THEO's problem was tokens appearing with nothing behind them. Pepeto, a frog meme coin with working trading tools, built its bridge around the opposite rule: a token appears on one chain only after the same token is locked on another.

The order never changes. Coins being sent are held in an audited contract on their starting chain, and new ones appear on the other chain only after proof of that hold is checked on chain. There is no wrapped IOU, and the 420 trillion supply never grows on any of the five chains it links.

A transfer costs $0 plus gas, and a failed one undoes itself. That design closes the exact kind of gap suspected in THEO's crash.

Pepeto adds a second check before every swap. Its scanner reviews any token's contract for mint functions, hidden owners and blocked sells, scores it from 0 to 100, and blocks trades it rates as critical. A token that can be minted at will gets flagged before money changes hands.

The cofounder who launched the first Pepe now leads the project, and buyers have noticed. The presale has passed $11.1 million at $0.00000019 per token this round, and the next round costs more.

Shiba Inu and Pepe had no tools at all and still made early buyers rich. Pepeto has the meme and working products from the start, and analysts see room for 100x once it lists.

2. Shiba Inu: A $3.09 Billion Value Leaves No Room for Another 100x

Shiba Inu trades at $0.000005247, down 4.17% in a day and about 94% below its October 2021 peak of $0.00008845. Burns continue, with over 13 million SHIB destroyed on October 10, per Shibburn data cited by CoinGabbar. But with 589 trillion tokens still out, a 100x would need a $309 billion value, more than any meme coin has ever reached. SHIB's best run is behind it.

3. Pepe: An ETF Filing Arrives, but 413 Trillion Tokens Cap the Climb

Pepe trades at $0.000004124, about 85% under its December 2024 record of $0.00002825. It made crypto news on October 7 when Canary Capital amended its filing for a spot PEPE ETF, TokenPost reported. With 413.77 trillion tokens out, a 100x would mean a $171 billion value, so a 2x or 3x is the realistic hope. Pepe's giant gains came in 2023.

Crypto News Verdict: Pepe's Cofounder Is Back With Live Tools and a Listing Ahead

This week's crypto news showed what happens to a token with nothing solid behind it, as THEO lost 92% in a day. Shiba Inu and Pepe show the other side, with runs that made early buyers rich, but their supply size now makes a repeat very hard.

Pepeto has the pieces both stories point to: Pepe's original cofounder, a live bridge and scanner, and an upcoming Binance listing, all while it is still in presale. Prices on the Pepeto official website rise each round, so buyers joining now sit where early Pepe buyers sat in 2023, before listing day sets a market price.

Get in on the Pepeto presale via pepetocoin.com

Quick Answers

What's the biggest crypto news for meme coins this week?

The biggest crypto news for meme coins this week is THEO's 92% crash. A suspected bridge exploit minted 19 million tokens, per PeckShield.

How can you spot a meme coin with staying power?

Look for working tools before listing, like Pepeto's live bridge and scanner. That is why buyers have put $11.1 million into its presale ahead of a projected 100x.

About the Author Tokenwire

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