Sign Up on MEXC
Highlights
- Whale deposits 217 billion PEPE on Binance, signaling potential sell-off.
- PEPE price dips due to significant whale activity and market pressure.
- Whale's consistent profit streak suggests strategic trading of PEPE.
Pepe Coin price, the frog-themed meme coin, recently hit an all-time high, attracting significant attention. However, this price surge has been met with a wave of profit-taking by major holders, leading to a notable dip in its value. One whale, in particular, has been actively dumping large amounts of PEPE, sparking concerns and speculation about the coin’s future trajectory.
Whale Activity and Market Impact
The recent sell-off was highlighted by a substantial deposit from a prominent PEPE holder. According to reports, this whale, known for a 100% winning rate over the past three months, deposited 217 billion PEPE into Binance.
Meanwhile, this amount, valued at $3.39 million, was transferred at a price of $0.00001564 per coin. The report said that if sold at this price, the whale would realize a profit of $420,000, given an average opening price of $0.000137. Notably, the whale still holds an additional 40.4 billion PEPE, which would yield a profit of $78,000 if sold.
Such significant transactions by large holders can heavily influence market sentiment. The act of depositing a vast amount of PEPE into an exchange like Binance suggests an intention to sell, which typically leads to downward pressure on the price. This has been a contributing factor to the recent dip in Pepe Coin’s value.
Also Read: Hong Kong Hint Green Light For 11 New Crypto Exchanges, What’s Next?
Pepe Coin Price Slips
The current situation raises questions about the future prospects of Pepe Coin. While the recent whale activity has caused a dip, it also highlights the profit potential that some investors see in the meme coin. Notably, the whale’s consistent winning streak over the past three months indicates a strategic approach to trading PEPE, which could inspire confidence among other investors despite the current sell-off.
However, the broader market context is essential. Meme coins like PEPE are highly volatile and driven by speculative trading rather than fundamental value. This makes them susceptible to significant price swings based on large trades and market sentiment shifts. Investors need to remain cautious and informed about the factors driving these movements.
Meanwhile, the coming weeks will be crucial for Pepe Coin. If more whales follow suit and begin to sell off their holdings, the price could face further downward pressure.
Conversely, if the market absorbs these sales and maintains interest in PEPE, the coin could stabilize and potentially resume its upward trajectory. As of writing, Pepe Coin price dropped 1.49% to $0.00001531, while the trading volume slipped over 10% to $1.72 billion.
Also Read: Here’s How This Crypto Trader Made $160,000 With Trump’s Conviction
- Peter Schiff Criticizes Bitcoin’s Performance Following Gold’s Rally To New ATH
- Arkham Uncovers $5 Billion in Untouched Bitcoin From Germany’s Movie2K Seizure
- Ethereum Spot ETFs Record $447 Million in Outflows Amid Crypto Market Decline
- World Liberty Financial Discloses Reason for Blacklisting 272 Wallets
- September 50 BPS Fed Rate Cut Odds Climb Ahead of CPI, PPI Data
- HBAR Price Forecast: Analyst Targets 123% Rally as ETF Approval Odds Hit 90%
- Solana Price Prediction: Will Solana Hit $320 as SOL Strategies Gains Nasdaq Approval?
- XRP Price Forecast: Analyst Eyes $127 as BlackRock Joins Ripple Swell 2025
- Chainlink Price Eyes $55 as Reserve Holdings Jump With 43,937 LINK Addition
- Cardano Price Targets 30% Surge as Top Economist Calls for Fed Cut
