PEPE coin whales have seen better days as the cryptocurrency loses another 9% in the past 24 hours. Some of the larger investors are calling it quits and are selling at a considerable loss.
Data from the popular on-chain analytics resource Lookonchain revealed that at least two whales are realizing considerable losses.
One of them is an address ending at 0x4614, which sold a total of 375.8 billion PEPE at a loss of $142,000 (worth some 76 ETH) today.
Another whale sold around 257 billion PEPE (worth $306K) at a loss of about $35,000.
Whales/SmartMoneys are selling $PEPE.
A whale deposited 649B $PEPE($761K) 1 hr ago.
0x4614 who made 1,182 $ETH($2.2M) on $PEPE sold 375.8B $PEPE($306K) at a loss of 76 $ETH($142K) 1 hr ago.
0x6544 who made $352K on $PEPE sold 257.9B $PEPE($306K) at a loss of $35K 4 hrs ago. pic.twitter.com/w8crgva6S0
— Lookonchain (@lookonchain) June 5, 2023
The broader market for meme coins continues bleeding out.
Data from CoinMarketCap shows that almost all of the larger meme coins are trading at considerable losses.
For the past seven days, DOGE is down 2.5%, SHIB – 4.2%, PEPE – 20%, FLOKI – 7.83%, BONE – 13.3%, ELON – 4.2%, and so forth.
The post PEPE Whales Selling at Huge Losses as Meme Coins Continue Bleeding appeared first on CryptoPotato.
