The meme token Pepe Coin (PEPE) is once again in the spotlight — this time due to a massive sell-off by a crypto whale that shook the market and increased pessimism about the asset’s future.
Whale Sell-Off Leads to PEPE Price Drop
According to data from Lookonchain, an unnamed whale sold 150 billion PEPE tokens worth over $1.14 million during the early trading session. This triggered an immediate drop in the token’s price and growing concern among investors.
The investor initially purchased 1.5 trillion PEPE for just over $2,000, and the asset later reached a market valuation of more than $43 million at its peak.
As of now, the whale has realized a profit of over $10.3 million by selling 1.02 trillion PEPE and still holds 493 billion tokens valued at $3.64 million.
Market Pressure and Decline in Confidence
Such large-scale sell-offs are typically seen as a signal of diminishing confidence in the asset. While volatility like this is not uncommon for meme coins, the current situation highlights the instability and short-term nature of such assets.
Pepe Coin is trading around $0.0000073, after a 5.57% drop over the last 24 hours. Despite a minor upward correction earlier this week — thanks to a 500B PEPE purchase by another whale — the total decline since the beginning of the year stands at approximately 62%.
What’s Next for Pepe Coin?
Although PEPE remains popular among crypto enthusiasts and meme coin traders, the lack of institutional interest, high volatility, and prevailing distrust make its recovery uncertain.
Whether another rally follows or the token returns to lower levels will depend on market sentiment and future actions by major investors.
Frequently Asked Questions
Find answers to the most common questions below.
The market reacted to a whale sell-off, in which 150 billion tokens were liquidated, affecting investor confidence.
At present, the profit amounts to about $10.3 million — roughly 4,718 times the initial investment.
Recovery will depend on broader crypto market sentiment, as well as a halt in large-scale sell-offs by major holders.
The situation with PEPE may impact overall trust in meme tokens as an asset class, especially if whales continue aggressive selling.
This article is for general informational purposes only and is not intended to be, and should not be construed as, legal or investment advice.
