Whale Sells 9 Trillion Tokens, PEPE Drops 27%

Whale selling 9 trillion tokens, PEPE immediately fell by 27% (Photo; Doc. Pepecoin)

JAKARTA - The popularity of PEPE meme coins has continued to decline significantly in recent times. In the past week, PEPE has experienced a price decline of 12% and plunged to 27% in the last 30 days. This decline got worse after a whale sold 9 trillion PEPE tokens, raising concerns among investors about a possible further decline.

This whale movement was revealed through the Whale Alert platform on social media X, which reported that 9 trillion PEPE tokens have been transferred to the digital Bybit exchange. The transaction value reached 81.6 million US Dollars (approximately Rp1.32 trillion) based on the current price. The wallet address 0x88a149233 is known to make such a large transaction about nine hours ago at a cost of only 0.00,110428260797106 ETH (0.34 US Dollars or equivalent to Rp5,504).

In addition, Wintermute, a liquidity solution company for digital assets, also sold 902 billion PEPE tokens on Tuesday, according to a post on X by The Data Nerd. On the other hand, venture capital firm Nascent purchased 447.67 billion PEPE tokens (a value of 5.85 million US Dollars or equivalent to Rp94.7 billion) after the price of this digital asset fell on Monday due to the decline in BTC prices.

The decline in PEPE prices did not occur separately. Bitcoin (BTC) also experienced a significant price drop after the Mt crypto exchange. Gox announced it would distribute billions of dollars worth of Bitcoin to creditors, and the German government sold more than 12,000 BTC. This decline has an impact on altcoins and other meme coins, including PEPE.

Despite the bearish trend, PEPE achieved the highest number of holders of all time with 256,000 holders, attracting the attention of the digital asset sector. According to Forbes data, PEPE is now the third largest meme coin by market capitalization after Dogecoin (DOGE) and Shiba Inu (SHIB), and is currently ranked 24th in the market.

According to Coin Speaker information, PEPE's trading volume has fallen 29.47% in the last 24 hours, with a current value of 676.52 million US Dollars (around Rp10.9 trillion). Meanwhile, the market capitalization of digital assets is at 3.83 billion US Dollars (around Rp62 trillion).