3 hours ago
Popular memecoin PEPE dropped astir 1% arsenic a large token holder sent 500 cardinal tokens valued astir $4.8 cardinal to Binance, adding selling unit to the token.
The move comes amid a 40-day downtrend that outgo the trader astir $450,000. Tokens are often transferred to accounts connected exchanges successful mentation for an impending sale. The token astir precocious traded astatine $0.00000992, according to marketplace data, bouncing from earlier lows adjacent $0.00000938. Prices swung wrong a 6% scope earlier recovering toward absorption astatine $0.00000983.
The whale, according to blockchain data, is inactive holding onto 1.5 trillion PEPE tokens worthy much than $14 million.
More than 3.26 trillion PEPE tokens changed hands during the session, with the strongest volumes recorded during the betterment phase, according to CoinDesk Research's method investigation information model.
After dipping to the session’s low, PEPE rebounded sharply arsenic buyers stepped successful astatine enactment levels. That surge lifted the terms adjacent to an intraday peak.
The marketplace responded to the transportation with sustained buying interest, a motion of assurance oregon opportunistic accumulation. Still, bearish unit hasn’t vanished. Resistance remains steadfast conscionable beneath $0.00001, and terms enactment continues to trial enactment levels.
Nansen data supports the lawsuit for accidental accumulation, arsenic it shows that PEPE whales connected Ethereum added 1.46% to their holdings implicit the past 30 days.
PEPE is outperforming the broader memecoin market. As measured by the CoinDesk Memecoin Index (CDMEME), the assemblage mislaid astir 3% of its worth implicit the past 24 hours, much than PEPE’s adjacent 1% decline.
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