- PEPE’s supply held by top addresses registered a decline on 25 August.
- Most metrics were bearish, but a few indicators turned bullish.
The market’s confidence in the trending memecoin Pepe [PEPE] has declined sharply as major dumps have happened in the last few days. The sell-offs not only represented less confidence, but they also caused the memecoin’s price to drop substantially.
How much are 1,10,100 PEPEs worth today?
After this massive downtrend, will PEPE become a memecoin of the past, or will it make a comeback?
Selling pressure on PEPE is high
Lookonchain’s tweet, posted on 24 August 2023, revealed that Pepe Multisig wallet and Wintermute Trading deposited 17.3 trillion PEPE worth $18 million to exchanges. Not only that, but an early investor also dumped a substantial amount of the memecoin in exchange for Ethereum [ETH] on a DEX.
This episode clearly showed distrust among investors and proved the fact that the memecoin was under selling pressure.
4 hours ago, Pepe multisig wallet and Wintermute Trading deposited 17.3T $PEPE ($18M) to exchanges.
3 hours ago, an early buyer of $PEPE dumped 1.88T $PEPE for 1,010
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Author: Dipayan MitraDid you like this?
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