Shocking news!

PEPE whale "retreats"

On June 26, 2024, an ordinary yet extraordinary day, the meme coin market has set off a frenzy. According to the authoritative data platform Lookonchain, a huge PEPE whale chose the "retreat" strategy this morning.

The whale sold up to 700 billion PEPE tokens on the Binance exchange, with a total value of approximately US$7.8 million. Despite a loss of US$3.5 million, it currently holds PEPE tokens worth US$9.23 million.

At the same time, the strong rebound in Bitcoin prices has driven the recovery of the entire meme coin market. Among them, dogwifhat (WIF) and Bonk (BONK) are particularly eye-catching, both showing strong upward momentum, with daily gains approaching 20%.

It is worth mentioning that data from Lookonchain shows that the WIF token whale, which recently lost US$4.6 million, successfully repurchased these tokens at a higher price. However, since hitting an all-time high of $4.83 on March 31, the WIF token has plummeted 61%, becoming one of the worst performing digital assets in the memecoin space.

In contrast, the PEPE token has fallen 32% since its peak on March 27. The future direction of the memecoin market remains unknown, and it is worth waiting for us to see.

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