350B Pepe Coins Sold: What’s Next for PEPE Token Price?

Latest Pepe Coin News: Whale Sale and Future Market Impact

Pepe Coin Whale Sells 350 Billion Tokens—What Does It Mean for Investors?

In the midst of a booming crypto market, a huge sell-off by a Pepe Coin whale has sparked big conversations among traders and investors. According to recent data, this whale sold an eye-popping 356.2 billion PEPE tokens, making a massive 31x profit. But what does this mean for the token’s future? Let’s dive in.

Whale Dumps Pepe Coin for Big Profits

Data from Spotonchain on X (formerly Twitter) reveals that a whale deposited 356.2 billion Pepe Coins, worth around $7.3 million, to the crypto exchange Kraken. The whale's wallet, 0x5b75….fbda, had earlier purchased these tokens for a mere $237,000 in September 2023 from Gemini.

Fast forward to February 2024, the whale began cashing out through decentralized exchanges (DEX) and Kraken. In total, the whale made around $7.54 million, showcasing an incredible 31x return.

While this sell-off has raised concerns about a potential lack of confidence in Pepe Coin, the overall market sentiment remains optimistic.

What’s Happening With Pepe Coin’s Price?

At the time of review, PEPE's price has slightly dipped to $0.00000137, reflecting a 1.28% decrease over the past 24 hours. Its current daily high is $0.00000141, while the intraday low touched $0.00000135. 

Despite the minor dip, Pepe Coin has shown remarkable growth:

• 8% gains this week

• 144% surge in the past month

Many believe this is just a blip in the bull run for this popular frog-themed meme coin.

Will PEPE Coin Keep Pumping?

Crypto analysts are still bullish on PEPE’s potential. A recent report by CoinGape suggests the token could rally 7x in the coming months.

Why the optimism?

Increased whale activity: While one whale sold, others are buying more PEPE tokens during this market cycle.

Bullish crypto market: With pro-crypto policies and renewed enthusiasm, the market is thriving.

Community strength: Pepe Coin’s dedicated fan base continues to push the token forward.

Conclusion: Is Pepe Coin Still a Good Investment?

The recent whale sell-off may have caused a slight dip, but Pepe Coin's overall trajectory remains strong. As the crypto bull market heats up, investors are eyeing meme coins like PEPE for significant gains.