PEPE whale sell-off triggers market turmoil
Lookonchain, a well-known blockchain analysis platform, suggests that earlier today, an investor holding a huge amount of PEPE coins (Shanghai "whale") panic-sold and transferred 700 billion PEPE coins (a total of about $7.8 million) to the An exchange.
The sell-off caused the value of the PEPE coins held by the whale to shrink to $9.23 million, with a loss of up to $3.5 million.
As of press time, the price of PEPE coins rose slightly by 10% to $0.00001257. However, the price of PEPE coins has still fallen by 21% in the past month.
If you want to see a rebound in the entire meme coin price sector after the recent short-term rebound in Bitcoin. Among them, WIF and Bonk (BONK) have the most impressive gains, close to 20%.
Lookonchain also disclosed that the company took action against investors who lost $4.6 million by holding WIF coins, and recently spent money to buy back the coin, but the purchase price was higher than the price when the action was held.
It should be noted that WIF coin has fallen by more than 61% from its historical high of $4.83 on March 31, becoming one of the worst performing coins. In contrast, the price of Pepecoin has fallen by 32% from its high on March 27.
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