{"id":99650,"date":"2024-11-14T03:49:15","date_gmt":"2024-11-14T07:49:15","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=99650"},"modified":"2024-11-14T03:49:19","modified_gmt":"2024-11-14T07:49:19","slug":"pepe-coin-whale-dumps-500b-meme-coin-selloff","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/pepe-coin-whale-dumps-500b-meme-coin-selloff\/","title":{"rendered":"Pepe Coin Whale Dumps 500B, Signals Meme Coin Selloff"},"content":{"rendered":"\n

Pepe Coin (PEPE) surged 75%<\/a> after Coinbase and Robinhood listings, with one whale selling 500 billion PEPE for $11.8 million, earning $45 million in profit.<\/p>\n\n\n\n

\"Pepe
Pepe Coin Whale Dumps 500B, Signals Meme Coin Selloff <\/figcaption><\/figure>\n\n\n\n

As a result of the listings on Coinbase and Robinhood, the price of Pepe Coin (PEPE) experienced a significant increase of 75% in the past twenty-four hours. The on-chain data, on the other hand, indicates that whales will most certainly book profits, which will cause a selloff of meme coins. <\/p>\n\n\n\n

For a profit of nearly $45 million, a Pepe Coin whale sold almost 500 billion coins while simultaneously making a profit. Whales and early PEPE investors have begun to book their profits with the company. <\/p>\n\n\n\n

Pepe Coin Whale Dumps Massive Holdings<\/h2>\n\n\n\n

Lookonchain published a report on November 14, revealing that a PEPE whale sold 500 billion PEPE coins, valued at a total of $11.8 million, from its collections. The smart money accumulated a total of 2.01 trillion PEPE tokens<\/a> between May 5 and September 10 of the previous year, with an initial investment of 1,170 ETH, equivalent to $2.12 million at the time.<\/p>\n\n\n\n

However, in spite of the deposits that are currently being made at Coinbase, the whale still possesses 1.48 trillion PEPE, which is right now valued at $33.2 million. This demonstrates that the whale has generated returns that are twenty times greater than the initial investment, with an anticipated total profit of forty-five million dollars.<\/p>\n\n\n\n

As soon as Coinbase, Robinhood, and Upbit made the PEPE listing public, the cryptocurrency's price surged to an unprecedented peak, soaring by 75% in a single day. <\/p>\n\n\n\n

Over the course of the current craze, PEPE has surpassed the market cap of $10 billion, and the daily trading volumes have also increased by more than 200%, reaching more than $20 billion.<\/p>\n\n\n\n

According to the statistics provided by Coinglass, the open interest in PEPE has increased by 63% to a total of $316 million, while the 24-hour liquidations have grown to a total of $48 million. The entire meme coin industry has performed exceptionally well following Donald Trump's victory in the US presidential election last week. <\/p>\n\n\n\n

A week's worth of increases for the top meme coins, Dogecoin (DOGE) and Pepe Coin (PEPE), exceeded one hundred percent. While this was going on, Dogwifhat (WIF), Bonk (BONK), and Floki Inu (FLOKI) each saw a gain of sixty to seventy percent during the meme coin frenzy.<\/p>\n\n\n\n

The meme coin frenzy, on the other hand, has been at a historically high level, with greed and fear of missing out (FOMO) catching up quite soon, according to the data that Santiment has on the blockchain. <\/p>\n\n\n\n

\"\"
Source: Santiment<\/figcaption><\/figure>\n\n\n\n

Additionally, there has been a huge increase in the social debate about meme currencies, which indicates that a selloff caution is imminent. Alex Kruger, a well-known economist, made the following statement in response to the current frenzy in the meme space: <\/p>\n\n\n\n

\n

\u201cBitcoin aside, crypto now is mostly about memecoins. That\u2019s what people wants. Full-stop. And exchanges are giving it to them. That\u2019s what the Binance listings of PNUT and ACT and the Coinbase listings of PEPE and WIF tell you\u201d.<\/p>\n<\/blockquote>\n\n\n\n

Apart from Pepe Coin\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, the price of PNUT has also surged by a massive 200% while extending its weekly gains to more than 1600%.” Amidst a positive mood, the price of DOGE is currently trading at $0.392, and the price of WIF is currently exchanging hands at $4.18. Both of these prices continue to rise.<\/p>\n","protected":false},"excerpt":{"rendered":"

Pepe Coin (PEPE) surged 75% after Coinbase and Robinhood listings, with one whale selling 500 billion PEPE for $11.8 million, earning $45 million in profit. As a result of the listings on Coinbase and Robinhood, the price of Pepe Coin (PEPE) experienced a significant increase of 75% in the past twenty-four hours. The on-chain data, […]<\/p>\n","protected":false},"author":62,"featured_media":99657,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[150,650,2275,22834,1223],"class_list":["post-99650","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-coinbase","tag-memecoin","tag-pepe","tag-pepe-coin-2","tag-robinhood"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/11\/images-2-2.jpeg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/99650","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/62"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=99650"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/99650\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/99657"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=99650"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=99650"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=99650"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}