Pepe Whale Realizes $35.52 Million from 500 Billion Tokens Sale
A whale investor in Pepe (PEPE) has achieved a 17,026x return, initially investing $3,010 for 4.914 trillion PEPE tokens in April 2023. Recently, the wallet moved tokens for the first time in six months, depositing 500 billion PEPE on Coinbase, indicating a potential sale. This move has generated $35.52 million in cash, with the whale still holding 1.25 trillion tokens valued at approximately $15.73 million.
Market speculation surrounds the whale's actions, with some suggesting insider trading, though no evidence supports this claim. Following the token transfer to Coinbase, bearish sentiment among investors increased. Currently, PEPE is trading at $0.00001239, down 2.97% in the last 24 hours.
- PEPE has 394.06K holders; 84.77% of wallets hold $0-$1K
- 14.74% of wallets have invested $1K to $100K
- Price surged 1075.93% over the past year
- PEPE dropped 21% in the last week and 30% in the past month
PEPE Price Analysis
The Relative Strength Index (RSI) indicates bullish signs at 33.60, showing recovery from oversold levels. The price action is testing the lower Bollinger Bands, with potential for a rebound if support holds. However, a recent bearish divergence in the MACD suggests continued downward pressure may occur.
Source: TradingView
Source: TradingView