Following the approval of the Ethereum ETF, the only cryptocurrency being talked about in the market was PEPE. The ATHs experienced in PEPE marked the week. On the other hand, due to the price increase, major investors took profits, triggering a noticeable drop in price. During this period, a move by a PEPE whale was highly discussed. The whale’s massive PEPE coin sale raised questions about the meme coin’s future.
PEPE Coin Comments
The recent sales in the market also align with the actions of a major PEPE investor. According to information, a whale who gained 100% in the last three months sent 217 billion PEPE to the Binance exchange.
The amount sent by the whale was valued at $3.39 million, and at the time of the transfer, PEPE’s value was $0.00001564.
Calculations showed that if the whale sold, with an average purchase price of $0.000137, a profit of $420,000 would be realized.
Notably, it is seen that the whale has not sold 40.4 billion PEPE, which could generate a profit of $78,000 if sold.
Pepe Coin Price Movements
The current situation raises significant questions about the rise of Pepe Coin’s price. Although whale sales in the market have led to a price drop, there are still investors continuing to buy.
The profit series from the mentioned whale could contribute to the confidence of small investors in PEPE.
On the other hand, it is also important to consider broader market movements. It is known that PEPE, like other meme coins, can be significantly affected by speculations.
This makes them susceptible to significant price fluctuations due to large trades and changes in market sentiment. Investors should act cautiously and be informed about the factors driving these movements.
Meanwhile, the upcoming weeks will be crucial for Pepe Coin. If more whales follow suit and start selling their holdings, the price could face further downward pressure.
Conversely, if these sales find buyers and interest in PEPE continues to rise, the cryptocurrency’s price could stabilize and potentially begin new upward movements. As of the time of writing, Pepe Coin is trading at $0.00001519 after a 1.62% drop, with a 24-hour trading volume declining over 10% to $1.72 billion.
