Pepe (PEPE), the third-largest meme coin, is facing strong bearish pressure as a major early investor has started selling large amounts of tokens. This has raised concerns about a further price decline.
On March 29, 2024, blockchain analytics firm Lookonchain reported that a crypto whale sold 150 billion PEPE tokens on Binance, worth about $1.14 million.
This investor has now sold a total of 1.02 trillion PEPE tokens, earning $6.66 million in sales and a total profit of $10.3 million. Remarkably, this whale initially bought 1.5 trillion PEPE for just $2,184, making an extraordinary return of 4,718 times their investment.
As a result of these massive sell-offs and the overall weak crypto market, PEPE’s price has dropped over 7.43% in the last 24 hours, currently trading around $0.057188. Additionally, its trading volume has fallen by 15%, suggesting reduced interest…
