PEPE Price Faces 20% Drop Amid Rising Whale Sell-Off

As Bitcoin ($BTC ) price fell below the $97K-$99K support range after rallying above $100K in the past few days, the frog-themed memecoin Pepe (PEPE) suffered significant losses over the past 24 hours. The mid-cap memecoin, with a fully diluted valuation of around $7.6 billion and an average 24-hour trading volume of around $2 billion, fell over 11% over the past 24 hours to trade around $0.00001816 on Wednesday during the early European session.

As a result of the heightened volatility, over $5.6 million was liquidated from the Pepe leveraged market, with over $4.9 million involved by long traders. Furthermore, most memecoin projects have seen a double-digit percentage loss in the past 24 hours.

Major Factors Attributed to Pepe’s Price Drop Today

The notable decline in Pepe’s price in the recent past is mainly attributed to whale activity. For instance, a whale investor with 1 billion Pepe units, valued at over $18 million, deposited over 427 billion Pepe units worth around $8.45 million to Kraken in the past two days. It is worth noting that the Pepe whale has accumulated an estimated profit of around $13.45 million.

According to on-chain data analysis provided by Dexscreener, Pepe’s trades in the past 24 hours have mostly involved more sellers than buyers. Out of the $3.3 million Pepe traded on DeFi protocols, around $2 million involved sellers. #pepecoin🐸 #2025binance #Biticoin $PEPE