A big investor in the PEPE cryptocurrency sold off a large amount of their holdings, moving 700 billion tokens (worth $7.8 million) to the Binance exchange, according to blockchain analytics platform Lookonchain. After this sale, the investor still has $9.23 million worth of PEPE, having lost $3.5 million.
Currently, PEPE is trading at $0.00001197, up 10% in the last 24 hours, but still down 21% over the past month. The overall meme coin market is improving as Bitcoin has seen a slight increase. Among meme coins, dogwifhat (WIF) and Bonk (BONK) are doing well, with each gaining nearly 20% today.
A different major investor who recently lost $4.6 million on WIF ended up buying more of it at a higher price. WIF is currently down 61% from its all-time high of $4.83 on March 31, making it one of the worst-performing meme coins. In comparison, PEPE is down 32% from its peak on March 27.
