PEPE Token Drops 1% After $4.8 Million Whale Transfer
Memecoin PEPE declined by approximately 1% as a major holder transferred 500 billion tokens, valued at $4.8 million, to Binance, increasing selling pressure.
- The transfer occurred during a 40-day downtrend, costing the trader about $450,000.
- Current trading price is $0.00000992, recovering from lows around $0.00000938.
- Price fluctuated within a 6% range, approaching resistance at $0.00000983.
- The whale holds 1.5 trillion PEPE tokens worth over $14 million.
- Over 3.26 trillion PEPE tokens exchanged hands, with significant volume during the recovery phase.
- Market showed buying interest after the token dipped, indicating potential accumulation despite ongoing bearish pressure.
- Resistance remains below $0.00001; support levels are being tested.
- Nansen data shows PEPE whales on Ethereum increased holdings by 1.46% in the last month.
- PEPE is outperforming the broader memecoin market, which lost nearly 3% in value over 24 hours.