A Pepe coin whale liquidated 330 billion of assets at a loss of approximately $2.53 million in response to the negative prevailing market sentiment.
In response to the decline in cryptocurrency prices, a Pepe coin whale sold $2.53 million in PEPE at a loss. The meme coin was the subject of a series of transactions by the merchant, who continues to possess a substantial asset quantity. In the current market sentiment context, this elicited various community reactions on social media platforms.
PEPE Coin Whale Dumps Significant Assets
A significant number of assets were sold by a Pepe coin whale, resulting in a loss. The titan deposited 330 billion PEPE to the crypto exchange Kraken, leaving 1 trillion of the asset in the portfolio, which is estimated to be worth $7.57 million, according to data from Lookonchain. In the past, the trader conducted several substantial transactions that captivated the community’s attention.
Whale initially sold 500 billion Pepe tokens and acquired 828 billion tokens at a low price, bringing the total holdings to 1.3 trillion assets valued at $9.9 million. In the midst of all of this, the speculator suffered a loss of over $3 million from the transaction, even with the most recent asset movements.
The magnitude of their holdings continues to influence market movements as the activities of crypto whales continue. Consequently, the broader community is concerned about the potential impact of their transfers on the ecosystem. In the same vein, abrupt transfers to centralized crypto exchanges such as Kraken, Binance, and Coinbase frequently result in broader sell-offs.
Users direct their attention to the red zone
Crypto users have proposed that the sale is primarily due to the decline in cryptocurrency prices. Nevertheless, the whale continues to possess substantial quantities of Pepe tokens. The activities of prominent assets influence meme tokens, as their price fluctuates based on sentiments and on-chain data. Despite the market downturn, PEPE has experienced a 1% increase in the past 24 hours, trading at $0.00000777 at the time of publication.
Bitcoin and other top cryptocurrencies continue to decline within the 24-hour window, resulting in crypto assets remaining underwater. The asset price with the highest market capitalization fell below $59k before experiencing a minor increase. In the same period, Ethereum and Solana also experienced price declines.
