Pepe Coin Whale Sell-off of 85 Billion Tokens Raises Concerns, More Sell-offs Coming?
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PEPE Coin Whale Sell-off Incident and Market Concerns
Recently, the PEPE Coin market has seen a large-scale sell-off by whales, raising concerns about the future trend of PEPE tokens. According to Lookonchain's report, a whale of PEPE Coin has sold approximately 85 billion PEPE tokens in the market, worth about $1.51 million. This sell-off has resulted in massive losses, and the whale currently holds a remaining 180.8 billion PEPE tokens, with total losses nearing $1.74 million, and the current market value is approximately $3.2 million.
Market observers are concerned about whether this whale will continue to sell the remaining PEPE tokens. Given that the whale's current holdings have already incurred significant losses, some analysts believe he may choose to stop selling to prevent further losses. However, as the price of PEPE continues to fall, especially after losing the support level of $0.00002062, it may continue to be under pressure in the future.
Market Performance of PEPE Coin
The current trading price of PEPE Coin is $0.00001766, having dropped 3.10% in the past 24 hours, and the decline over the past week has reached 13.87%. The market capitalization and 24-hour trading volume of PEPE have decreased by 3.12% and 21.98% respectively, indicating a waning interest in the token. Its volatility is also high, hovering around 11.79%, reflecting significant market uncertainty.
Whale Trading and Market Sentiment
In the whale's sell-off behavior, another noteworthy transaction is that another whale deposited 42.7 billion PEPE tokens, worth nearly $8.5 million. This fund was deposited into the cryptocurrency exchange Kraken, and this whale's total holdings have reached 1 trillion PEPE tokens, currently valued at approximately $18.4 million. This whale had previously realized a profit of $2 million from its holdings, most of which came from its earlier earnings of $11.7 million through PEPE tokens.
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