• Buying pressure on the meme coin continued to remain high.
• Market indicators suggested that PEPE might witness a price correction.

Pepe [PEPE], one of the most famous meme coins, has displayed promising performance over the last week. While the meme coin’s price surged, a whale actually sold a substantial number of tokens, earning profits.

Does this mean that the whale is expecting PEPE to witness a price correction in the near term?

Are PEPE whales selling?

Over the last week, PEPE registered double-digit growth, which looked promising. To be precise, the meme coin managed to lift its value by more than 33%.

In fact, it also maintained its gains in the last 24 hours, as it was up by over 9%. At the time of writing, the coin was trading at $0.000001418 with a market capitalization of over $592 million, making it the 89th largest crypto.

While the coin’s value continued to pump, a whale chose to sell its holdings.

According to a recent tweet from Lookonchain, a whale deposited 794 billion PEPE, which was worth $1.1 million to Gateio, when the price of the token surged. This sale allowed the whale to earn a profit of $230,000.

The price of $PEPE just soared more than 20%.

We noticed that a wallet deposited 794B $PEPE ($1.1M) to #Gateio when the price of

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Author: Dipayan Mitra

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