Despite a massive sell-off by Wintermute, Pepe Coin has shown resilience, rising by 12% today due to several positive market factors and whale accumulation.
Points
- Wintermute sold nearly 703 billion PEPE tokens, causing initial price drop concerns.
- Pepe Coin rose by 12.45% in the past day, trading at $0.000009364.
- Significant whale accumulation adds buying pressure and supports bullish outlook.
- Pepe Coin maintains strength despite market volatility and sell-offs.
Pepe Coin has shown surprising strength, rising by 12% today despite a massive sell-off by Wintermute. On July 9, nearly 703 billion PEPE tokens were dumped onto the Binance exchange, which raised concerns about a market downturn.
Pepe Coin Defies Market Trends Amid Massive Sell-Off
On-chain tracker Mest revealed that Wintermute moved 702.9 billion PEPE tokens, valued at $6.59 million, to Binance. During this time, PEPE’s price dropped by 3.4%, causing concerns among investors.
Additionally, Whale Alert reported that address 0x88a14933 accumulated a massive 9 trillion PEPE tokens, worth $83.25 million, from Bybit today. This large accumulation adds significant buying pressure and supports the bullish outlook for Pepe Coin.
At the same time, PEPE has risen despite the recent volatility in the crypto market, thanks to several positive factors that have helped it stay strong. As of now, PEPE’s price has risen by 12.45% in the past day, trading at $0.000009364. The coin’s price has fluctuated between $0.000008238 and $0.000009555 in the last 24 hours.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
解説
- Wintermute Sell-Off Impact: The massive sell-off by Wintermute initially caused concerns of a market downturn for PEPE, but the coin’s resilience shows its strength in the current market.
- Whale Accumulation: Significant whale accumulation has added buying pressure and contributed to the bullish outlook for Pepe Coin, highlighting the importance of large investors in the crypto market.
- Market Resilience: Despite volatility and sell-offs, Pepe Coin’s ability to maintain and even rise in value indicates strong market fundamentals and investor confidence.
- Price Fluctuations: The price fluctuations within a narrow range demonstrate PEPE’s stability amidst broader market changes, suggesting a potential for further gains as market conditions improve.