A Pepe coin whale sold PEPE worth $2.53 million at a loss amid market uncertainty. The investor made multiple transactions in PEPE and continues to hold a significant amount despite the sale. This situation has sparked various reactions on social media amid current market conditions.
Sales by the PEPE Coin Whale
A cryptocurrency whale visibly sold PEPE at a loss. According to data from Lookonchain, the whale sent 330 billion PEPE to the crypto exchange Kraken and still holds 1 trillion PEPE worth $7.57 million. This whale had previously made several significant transactions that did not go unnoticed by the community.
Initially, the whale sold 500 billion Pepe tokens and later increased their PEPE holdings by purchasing 828 billion tokens. By buying at a low price, the whale started holding 1.3 trillion PEPE worth $9.9 million. With recent market movements, the investor incurred a loss of over $3 million from the transaction.
It is known that transactions by this and other cryptocurrency whales have noticeable effects on the market. Such large-scale sales at a loss can also impact individual investors, potentially leading to a sense of unease and subsequent price drops.
How Much is PEPE Worth?
According to cryptocurrency investors, PEPE’s decline is not unique to PEPE but is also related to the general market downturn. Despite the sale, the same whale is known to still hold a large amount of Pepe coin. Meme tokens are known to experience rises and falls based on the movements of leading cryptocurrencies in the market.
As of the time of writing, PEPE is trading at $0.00000709. This indicates a 1% drop in the last 24 hours, parallel to the existing market uncertainty.
PEPE’s market cap fell to $3.2 billion following the price drop, while its trading volume dropped to $490.6 million, a 10% decrease.
