In the last 24 hours, the price of PEPE has fallen by 6.02%.
Experts and investors are still optimistic about this coin.
Remember a few months ago when everyone was praising #Pepe [PEPE]? That's no longer the case. In the last 24 hours, Pepe's exchange rate has fallen by more than 6%, which is quite different from the best of times.
However, according to CoinGecko, the community is still optimistic about this #meme coin.
Why is PEPE falling?
Two days ago, Etherscan published data on its blockchain, showing that a large number of PEPE tokens - around one trillion - had been withdrawn from the #Binance [BNB] exchange.
The transfer, worth about $8 million, drew attention because of its mysterious origin and use of the highly secure Gnosis Safe Proxy wallet. And this was not an isolated incident.
Just a day before, another 322.48 billion PEPE tokens worth about $2.7 million were withdrawn from the same suspicious address. Let's take a look:
These transfers seem to be the main reason for the small FUD that led to PEPE's downfall. The timing of when this happened is also very interesting - during an unexpected 17% price increase.
Investors were not upset.
However, the community is actively discussing possible motives for these transfers - from market manipulation to unexpected actions by the regulator.
Meanwhile, on the morning of May 7, another whale withdrew more than 1.2 billion PEPE tokens to a Binance wallet address with multiple signatures, suggesting that it could have been an organization rather than an individual investor.
Clearly, interest in Pepe is still high.
As usual, crypto experts are publishing predictions about PEPE to help investors understand the market and decide if it is still a good investment option.
For example, David Gokstein.
Some experts recommend HODL enthusiasts to exchange their Shibai Inu [SHIB] for PEPE, even at the current price level.
Read us at: Compass Investments
