In Pepe (PEPE), the popular meme token of recent times, whales have started selling serious profits.
PEPE whales, according to data presented by on-chain research firm Nansen Tuesday, May 2 And Wednesday, May 3 disposed of substantial amounts of assets between Early period Analysts, drawing attention to the sales of PEPE investors, stated that there were $185 million He cited whales as the reason for the drop in market value. PEPE on Tuesday, May 2 $582 million market volume 397 million dollars had regressed. PEPE’s current market cap is at an all-time high at the time of writing. (ATH) by reaching 670 million dollars sat on the band.
Additionally, on Tuesday 2.2 million PEPEs a whale selling only because of large slippage rates 650 thousand dollars worth Ethereum (ETH) could get it. The same day many whales million dollars worth of sales market volume contributed to its decline. As a research analyst at Nansen Xin Yi In his statement on the subject, he included his ideas about the profit sales of whales:
There are a lot of whales entering early, and the token price has skyrocketed since then. People monitor the activity of these whales, and whenever a whale sells for substantial profits, it has a significant impact on price and market cap. Currently, liquidity is rather weak considering the market cap.
On the other hand, according to data provided by Coinglass, PEPE’s funding rates have been negative running levels. Although negative funding is data that is open to manipulation, it is usually specific to that cryptocurrency. sales directional the raid It means weight.
According to CoinGecko data, in the last 24 hours 89% rising PEPE, at the time of writing From $0.00000163 is being traded.