Pepe Coin price continues to fall as major investors liquidate their holdings, raising concerns among traders in light of market volatility.
Whale Sells Pepe Coin Tokens
On Binance, whale 0x3c9E sold 502.5 billion Pepe Coin tokens valued at $6.47 million, according to Lookonchain data. Since the beginning of May, this whale transferred 1.5 million tokens to the exchange. As per Arkham Intelligence, the whale still holds 497.5 billion tokens worth $6.41 million, realizing a profit of $7.47 million over the month.
Trump and the Pepe Coin Community
US President Donald Trump shared an image of Pepe the Frog character on his Truth Social platform, triggering a buzz in the Pepe Coin community and a 7% price increase. However, the overall market situation led to a significant price decline.
Meme Coin Market in Correction
The broader meme coin market has also experienced correction, with coins like Bonk, Fartcoin, DOGE, and SHIB dropping over 10% in a day. Traders are exercising caution amid high volatility. Despite this, Pepe Coin, Fartcoin, and Dogecoin remain among the most traded assets based on recent 24-hour volumes.
The outlook for Pepe Coin remains uncertain due to large sell-offs by investors and an overall correction in the meme coin segment. Traders are advised to monitor price movements closely.
