Whale Sells Off $PEPE Tokens, Price Drops 10%
A $PEPE whale sold 427B tokens worth $8.45M, causing a 10.4% price drop. With $13.45M in profits, the market watches for the next move.
- Whale deposits 210B $PEPE ($3.95M) to Kraken, totaling 427B $PEPE offloaded in 32 hours.
- Whale’s profits estimated at $13.45M across two trades.
- $PEPE price declines by 10.4% amid massive sell-offs.
Whale Activity Spurs $PEPE Price Drop
A significant $PEPE whale has triggered turbulence in the market by offloading a staggering 427 billion tokens over the past 32 hours. The latest deposit of 210 billion $PEPE, valued at $3.95 million, was made to Kraken 10 hours ago. This comes after an earlier sale of 217 billion tokens, bringing the total value of the sell-off to $8.45 million.
The rapid liquidation of these tokens has coincided with a 10.4% drop in $PEPE’s price over the last 24 hours, raising concerns among investors about the token’s stability.
Breaking Down the Whale’s Profits
This whale’s trading strategy has yielded impressive gains, with total profits estimated at $13.45 million. The first trade alone brought $11.4 million in profit, a 57% return, while the ongoing second trade has already generated $2.05 million, marking an 8.3% increase.
Despite the significant market impact, the whale still holds a considerable balance of 1 trillion $PEPE tokens, valued at $18.4 million. This suggests that further price fluctuations could occur if additional sales are made.
Community Reaction and Market Implications
The $PEPE community has reacted with mixed emotions. Some view the whale’s activity as a natural part of market dynamics, while others worry about the impact on investor sentiment and the token’s long-term viability. Large sell-offs often create downward pressure on price, leaving smaller investors scrambling to mitigate losses.
For now, all eyes are on this whale’s next move, as the market braces for potential further volatility.
