It's been quite a ride, with its price jumping and then falling dramatically. The reason? Big-time investors known as whales.
These whales buy a lot of Pepe coins when the prices are low, and as soon as prices go up, they sell their coins, which makes the price drop again. For example, not too long ago, one of these whales sold an enormous amount of 565 trillion Pepe coins when the price reached 0.000008. Their frequent buying and selling make Pepe's price very unstable.
For the price of Pepe to consistently go up, there needs to be fewer coins available. Right now, with so many Pepe coins out there, it's tough for the price to get higher. Understanding how these whales influence the price helps us see why Pepe's value changes so wildly.
