Pepe Coin Whale Dumps $1.14M; Price Drop?
Negative sentiment continues to impact the Pepe Coin market. Recent data from Lookonchain reveals a significant selloff by a long-time holder (whale) who dumped 150 billion PEPE tokens, valued at over $1.14 million.
PEPE Whale Selloff: Implications
Lookonchain's report details the activity of this early investor, who initially acquired 1.5 trillion PEPE for a mere $2,184. At its peak, this investment was worth over $43 million. This whale has now sold a total of 1.02 trillion PEPE, generating $6.66 million in profit. They still retain 493 billion PEPE (worth approximately $3.64 million), resulting in a total profit of $10.3 million—a remarkable 4,718x return.
A $PEPE OG sold 150B $PEPE($1.14M) again 5 hours ago.
This OG spent only $2,184 to buy 1.5T $PEPE($43M at the peak) in the early stage.
He sold 1.02T $PEPE for $6.66M, leaving 493B $PEPE($3.64M), with a total profit of $10.3M(4,718x).https://t.co/tyzLr10sGj pic.twitter.com/FD6fFpyqCi— Lookonchain (@lookonchain) March 29, 2025
Whale selling activity rarely signals confidence in an asset. While common in the memecoin space, this selloff adds to the negative outlook for PEPE.
PEPE Coin Price Analysis
Earlier this week, a different whale accumulated 500 billion PEPE, leading to price increase hopes. However, the recent selloff contradicts this, with PEPE currently trading at $0.0000073, a 5.57% decrease in the last 24 hours. Despite a marginal 0.54% increase over the past 7 days, PEPE has experienced a significant 62% year-to-date (YTD) decline.
The price has dropped from a 24-hour high of $0.00000787. The future remains uncertain. However, a cessation of large sell-offs and a more positive shift in the overall memecoin market could potentially trigger a recovery.
Broader Crypto Market Weakness
The broader crypto market is experiencing a downturn, influenced by global economic uncertainty. Bitcoin's weakness is putting downward pressure on altcoins, including PEPE. Other memecoins like Dogecoin and Shiba Inu are also down 5.58% and 3.3%, respectively, in the last 24 hours. Increased volatility is anticipated, potentially leading to further price drops. Analysts maintain a positive outlook for Bitcoin's eventual recovery, which could positively impact the broader market.
Disclaimer: This information is for educational purposes only and should not be considered financial advice. Conduct thorough research before making any investment decisions. Codeum is not responsible for any personal financial losses.