PEPE Falls as Whales Dump 2.95T Tokens in One Day
Key Takeaways
- A major investor (“whale”) sold 150 billion PEPE tokens worth 1.14 million USD.
- A total of 2.95 trillion PEPE tokens were offloaded by large holders within a single day.
- The PEPE price dropped by 6.5% to 0.00000719 USD.
- Technical indicators such as the RSI suggest continued selling pressure.
- A further price decline below 0.0000070 USD is possible.
Massive PEPE Sell-Off by Major Investor
A so-called whale recently sold 150 billion PEPE tokens worth 1.14 million USD on an exchange. According to on-chain data from Lookonchain, the investor had originally purchased 1.5 trillion PEPE for just 2,184 USD. Since then, this whale has already sold 1.02 trillion tokens for a total of 6.6 million USD.
Such sales by major investors are a clear signal of declining confidence in the token. When whales sell, smaller investors often follow, creating additional selling pressure.
Wave of Sales Among PEPE Large Holders
In addition to the aforementioned whale, other large investors sold approximately 2.95 trillion PEPE tokens within 24 hours. While this is less than the 4 trillion sold the previous day, the trading volume remains high. This development points to ongoing negative sentiment in the market.
Impact on the PEPE Price
The massive selling pressure has significantly impacted the PEPE price. It currently stands at 0.00000719 USD — a 6.5% drop in a single day. Weekly and monthly comparisons also show a downward trend: minus 1.2% and minus 3.87%, respectively.
Traders betting on rising prices have been hit particularly hard. For example, a long trade with 10x leverage is currently down by over 3.36 million USD.
Technical Analysis: Bears in Control
Technical analysis confirms the negative trend. The Relative Strength Index (RSI) has formed a bearish crossover. This indicates that sellers are dominating the market while buyers are being pushed out.
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Additionally, Coinglass’s spot netflow shows a positive value of 1.87 million USD. This means more PEPE is flowing onto exchanges than being withdrawn — another sign of selling pressure.
What’s Next for PEPE?
The current market situation suggests a continuation of the downward trend. Both large and small investors are selling, indicating a general loss of confidence. If this trend continues, the PEPE price could fall below the 0.0000070 USD mark — possibly down to 0.0000069 USD.
A price increase is only realistic if buyers return in greater numbers. In that case, PEPE could temporarily rise to 0.0000073 USD. For now, however, skepticism prevails.
Our Assessment
The sale of 150 billion PEPE tokens by a major investor is a clear warning sign. Combined with additional sales in the trillions, this creates a strongly bearish market environment. Technical analysis supports this view. For you as an investor, this means caution is advised. Those already invested should critically assess their position. Newcomers should closely monitor the market and wait for a more stable signal before entering.
Sources
- Lookonchain
- IntoTheBlock
- TradingView
- Coinglass
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