A significant whale in PEPE coin sold $8.45M worth of tokens, sending the price plummeting by 11%. Meme coins like PEPE are struggling with reduced trading volumes and less activity from whales.
A major whale sold off in massive volume, and this has seen an enormous fall in the price of Pepe, a popular meme cryptocurrency. As the whale sold off about 427 billion PEPE tokens worth about $8.45 million in 48 hours, the price of the token experienced an 11% fall. The event further led to the downfall within the broader meme token space, with Dogecoin (DOGE) and Shiba Inu (SHIB) also experiencing similar falls.
Whale Sell-Off Hits PEPE Coin Hard
In a last-ditch effort, a whale recently sold a whopping 427 billion PEPE tokens worth about $8.45 million in the space of just 48 hours. Pressure on the price of the meme coin would have mounted hugely after this sell-off. This sell-off notably dented PEPE’s price as it dropped 11% in 24 hours.
The whale activities were especially important as they also led to profits that exceeded $13.45 million, with earnings from the original trade amounting to $11.4 million. The selloff involved large volumes when the meme coin market was plummeting, with massive declines in main meme coins including DOGE which fell by 12%, and SHIB whose value declined by 11%.
PEPE Problems in the Face of the Market
PEPE’s price has seen severe tests in the last month as it is currently trading 28% lower compared to the past 30 days. Currently, it is also 35% below its ATH of $0.00002825, recorded in December 2024. As of the writing of this report, PEPE is trading at $0.00001838, 7% below the YTD.
Market conditions also add pressure to the performance of the PEPE coin. With Bitcoin sliding below the $96,000 level, other altcoins like meme coin have been unable to maintain momentum. Even though there is a slight uptick in social dominance, the decline in trading volume is a pointer to decreasing market interest, which makes it hard for the token to hold its ground.
Whale’s Impact on PEPE’s Price and Market Outlook
The whale’s action has had an immense impact on the market’s sentiment, increasing PEPE’s trading volume to 52% to $15.22 billion. However, the token’s 24-hour trading volume decreased to $1.94 billion, which signifies further diminishing interest from investors.
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Smart Money Accumulation?
While This PEPE coin’s daily trading volume has plummeted significantly since the November highs, some analysts say that the reduced volume may indicate accumulation by smart money investors. This may eventually lead to a rebound. But for PEPE to regain its momentum, it will have to break free from the pressure caused by whale sell-offs and macroeconomic uncertainty.
Conclusion: The PEPE coin now faces huge price correction forces following a sell-off from a large whale accompanied by an even greater fall in the whole market. Although it has fallen far from the ATH, the situation may be a good time for smart investors to accumulate. A possible recovery will be dictated by overall market conditions, including the Bitcoin price change and the mood of the whole meme coin market.
Currently, PEPE coin continues to have its potential to recover if the market stabilizes, and whales start to slow their sell-off process. At the moment, nothing is known with certainty, except that everyone involved in the trades and investment seems to wait on the next steps.
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