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In recent days of volatility in the crypto market, Pepe Coin has experienced a significant value decline. The release of 175 billion tokens by a major institution and increasing selling pressure have had a marked impact on this asset. The prevailing uncertainty in the market has escalated the risks associated with this digital asset.
Impact of Institutional Selling
According to Lookonchain data, an institution named Nanscent sold 175 billion Pepe Coins via Binance on February 8, conducting a transaction worth approximately 1.5 million dollars. This transaction is viewed as indicative of the institution liquidating all its holdings in Pepe Coin.
Additionally, it has been reported that Nanscent released 608.85 billion tokens in a transaction worth 7.73 million dollars between June 6 and July 15, 2024. The institution’s previous sales have intensified the pressure on the asset.
Market Expectations
Experts suggest that due to increasing supply pressure and investor hesitation, further value loss for Pepe Coin is likely. Recent data indicates that the token’s value has decreased by approximately 35% on a weekly basis. It has also been noted that the trading values of Pepe Coin have remained within a narrow range over the last 24 hours.
The current market conditions, shaped by macroeconomic developments and institutional transactions, have led investors to adopt a cautious approach regarding this asset. A decrease in trading volume and short-selling data has also been observed.
The overall structure of the market and the experienced fluctuations suggest potential changes in Pepe Coin’s value in the future. Investors tend to closely monitor the movements of this digital asset alongside relevant macroeconomic developments.
