Whale Dumps on Binance: Popular Meme Pepe Coin Takes a Dive!
Release: 2024/10/29 03:34 Reading: 751
- Original author：The Bit Journal
- Original source：https://thebitjournal.com/?p=54034
Major Whale Moves Trillions of Pepe Coin (PEPE) to Binance
A significant Pepe Coin whale recently transferred 1.27 trillion tokens (valued at $11.51 million) to Binance. This large-scale movement has raised market concerns amidst an ongoing downtrend for the meme coin.
Pepe Coin Price Drops Amidst Market Anxiety
The whale's sale has placed additional downward pressure on PEPE, resulting in a 4.35% price drop over the last 24 hours. The token has experienced a 14% weekly decline and a 21.3% monthly decline.
Positive Metrics Despite Whale Activity
Despite the bearish sentiment, certain market indicators suggest that PEPE may still have potential for gains:
- Futures open interest has increased 5%, reaching $130.28 million.
- Derivatives volume has risen 26% to $381 million.
- The number of unique Pepe Coin holders has steadily grown to nearly 296,000.
- The coin's circulating supply on exchanges has decreased significantly, potentially indicating a bullish trajectory.
Market Outlook
Analysts are cautiously optimistic about PEPE's future. While the whale's sale and current market conditions present challenges, the aforementioned metrics indicate continued investor interest and potential upside. Market watchers are closely monitoring PEPE for any signs of price recovery.
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