#pepe Developers Selling Too Much? The #currency price is witnessing a collapse of 20%
PEPE, a deflationary memes coin that was launched earlier this year, has seen its cryptocurrency. Recently there has been strong network activity, and the development team is said to be selling out.
According to recent data from Etherscan, Team PEPE's portfolio has moved approximately 16 trillion PEPE/USD tokens (equivalent to about $15.08 million) to four cryptocurrency exchanges (CEXs). As a result, the PEPE token price saw a 15% drop.
Moreover, PEPE multi-sig wallet has undergone the change from 5/8 configuration to 2/8 only. About 6.9% of PEPE tokens (29 trillion) were transferred from the team's wallet. totaling 18.3 trillion, to central trading platforms.
There is still no clarity behind the latest developments, however. Investors are still worried about another type of interesting event here. The term “carpet pull” refers to a deceptive scheme in which a developer of a cryptocurrency or #NFT #project promotes the project to attract investment. But then it suddenly closes or disappears, thus fleeing with the investors' assets.
Some analysts like @ethx_o think this may not be a drag. According to ethx_o: The sole owners of more than 2.5% of PEPE are OKX and #Binance USD. Of the six largest owners, five of them are trading platforms. Also, circulating bid max bid. So there is little risk of traditional 'pulling the rug' here. The token belongs to the community.
PEPE price crashes by 20% This development has led to a sharp drop in the price of PEPE coin which is currently down 20% and is trading at $0.0000008749. PEPE has seen a downward trend, following a downtrend for several months. It looks likely to test the previous lows of $0.0000008 in June. Thus, short-term expectations indicate a negative outlook.
However, the fundamentals still look good. According to Etherscan, the number of token holders is steadily approaching 140,000. Which increases steadily although there are no significant price increases.
It appears that individual investors continue to acquire the currency. With PEPE value decreasing more. More investors looking to buy the dip could enter the market.