• On-chain metrics revealed that exchanges have witnessed an inflow of $6.8 million worth of PEPE.
• PEPE could soar by 40% to reach the next resistance level of $0.000026 if it holds itself above the $0.000018 level.

Pepe [PEPE], the popular and third-largest crypto meme coin, has experienced a significant 20% price decline following the anti-crypto stance taken by the Fed Chair. However, the Chair’s statement not only caused a price decline in PEPE but also triggered a massive sell-off across the cryptocurrency market.

Whale dumps $2.7 million worth of PEPE at loss

Amid this, a whale appears to have dumped 150 billion PEPE worth $2.72 million, onto Binance, the world’s largest cryptocurrency exchange, at a loss of $219,000, according to the blockchain-based transaction tracker Lookonchain.

This substantial sell-off occurred as the market started experiencing a price decline.