PEPE: Short-term sideways or bullish, but long-term outlook is bullish!

On July 9, nearly 703 billion PEPE was transferred to the Binance cryptocurrency exchange. The sell-off triggered bearish concerns across the cryptocurrency market. However, despite the massive sell-off, Pepe coins still rose by about 12%, coinciding with today's overall recovery. Here is a brief report on the massive sell-off and PEPE's current market statistics.

Wintermute transferred 703 billion tokens to Binance According to the chain tracking agency Mest, Wintermute transferred 702.9 billion PEPE to Binance, worth $6.59 million. During the same period, PEPE fell 3.4%, sparking investor concerns. However, despite the massive sell-off on the exchange, the frog-themed emoji token has gradually risen.

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This echoes the market hype about PEPE's continued potential to generate gains for investors. In addition, on-chain data that has surfaced in the market shows that despite the recent bearish wave in the crypto market, the smart money address 0xa14 has, on the contrary, not sold PEPE funds. It is worth noting that the above-mentioned smart trader has a 100% success rate in PEPE transactions and holds 512 billion coins.

It is worth noting that the average cost accumulated by the above-mentioned PEPE is $0.00001399. The decision of smart traders not to sell but to HODL Pepe coins has further fueled the market's optimism about the future trend of the token. At the same time, PEPE has soared on the support of a large number of bullish factors that have minimized the heat that altcoins have received in the recent volatility in the cryptocurrency space.

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