A major Ethereum whale sells 170 billion Pepe Coin （PEPE）, raising concerns about the future price movement of the token.
Points
- Ethereum whale sells 170.2 billion PEPE tokens for $1.97 million USDC.
- Significant transaction raises concerns about PEPE’s price stability.
- PEPE reached a weekly low of $0.00001102.
- Trading volume places PEPE among top altcoins like BNB and XRP.
- High trading activity reflects strong interest and confidence in PEPE.
Pepe Coin （PEPE） has the potential to experience a price change following the sale of 170.2 billion tokens by a significant Ethereum whale. This transaction, valued at $1.97 million USDC, marks a critical phase in PEPE’s market cycle, drawing attention from investors and analysts alike.
Since reaching its weekly low of $0.00001102, PEPE has shown a 4% increase, demonstrating resilience and potential recovery. However, the transfer by the Ethereum whale has made PEPE holders cautious. The whale’s strategic purchase of 170.2 billion tokens for $200,000 USDC in October 2023 and subsequent sale in June 2024, highlights a significant return on investment （ROI） of 886%.
This large-scale sale has brought attention to the potential actions of other major holders. Sell-offs by significant holders are common in the highly volatile altcoin market. However, PEPE’s substantial trading volume, exceeding $1 billion in 24 hours, places it among the top altcoins like Binance Coin （BNB） and XRP. This high trading activity indicates strong interest and confidence in PEPE from the broader crypto community.
In the short term, PEPE faces a critical juncture. The coin’s price must stabilize above key support levels to maintain investor confidence. The transaction by the Ethereum whale has not exposed PEPE to excessive selling pressure, and trading activity remains robust.
解説
- Whale: A term used to describe individuals or entities that hold large amounts of a particular cryptocurrency, capable of influencing market prices through their trades.
- Return on Investment （ROI）: A measure of the profitability of an investment, calculated as the gain or loss from the investment relative to
the amount of money invested.
– Trading Volume: The total amount of a cryptocurrency that has been traded within a specific period, indicating the level of market activity and investor interest.
– Support Levels: Price levels at which a cryptocurrency tends to find buying interest as it falls, helping to prevent the price from dropping further.