Crypto/Market Trends
PEPE Faces a Setback as Major Holder Offloads $4.8M Stake, Yet Still Surpasses Memecoin Sector
Despite a drop in value, PEPE has shown resilience following significant selling from a whale investor.
1 min read
Overview
The popular memecoin PEPE experienced a roughly 1% decline as a significant holder sold 500 billion tokens valued at approximately $4.8 million on Binance. Despite this selling pressure, PEPE has demonstrated a strong rebound from its session lows, supported by increased buying interest.
Key Points:
- The sale, executed by a major PEPE whale, added selling pressure and contributed to a minor price drop of around 1%.
- Following the drop, PEPE has shown resilience with a noteworthy bounce from lows around $0.00000938, now trading at approximately $0.00000992.
- Recent data indicates an increase in PEPE holdings among whales on Ethereum by 1.46% over the past month, signifying confidence in the token by larger investors.
Overall, despite facing resistance around the $0.00001 mark, PEPE has outperformed the wider memecoin market, which has seen a near 3% decline in the last 24 hours.
