Crypto Whales Are Selling This Popular Memecoin!
Large investors are slowly starting to distance themselves from PEPE.
PEPE, one of the popular memecoins in the cryptocurrency sector, has recently faced intense seller pressure. PEPE, which made huge gains in the first months of 2024, seems to be struggling to maintain these gains as of now.
Look On-Chain, a successful data provider, recently discovered crypto whales selling PEPE and shared the following information on the subject via its X/Twitter account:
A whale that bought 420 billion PEPE (worth $3.13 million) when the market crashed sold these assets 30 minutes ago
The whale spent 3.13 million USDT to buy 420 billion PEPE on August 5 and August 12.
30 minutes ago, he sold it all for 3.16 million USDC and made a profit of only $30,000 from this trade.
“A different crypto whale sold 500 billion PEPE (worth $4 million) at a loss 15 minutes ago.
This whale had accumulated 750.38 billion PEPE (worth $8.34 million) on Kraken at high prices.
15 minutes ago, he deposited 500 billion PEPE (worth $4 million) to sell on Kraken, leaving him with 250.33 billion PEPE (worth $2.02 million).
This crypto whale lost more than $2.3 million in total from PEPE trading.”
In the coming period, the continuation of PEPE sales by crypto whales could trigger sudden declines in the popular memecoin.
