The crypto market continues to experience significant fluctuations, leading to serious losses for asset holders. According to Lookonchain, a major $PEPE token owner faced massive losses after selling 85 billion tokens for 1.51 million $USDC.
$PEPE Token Sale and Owner's Losses
According to Lookonchain, amidst the broader crypto market downturn, the owner sold 85 billion $PEPE tokens. Despite the sale, the owner retains 180.8 billion tokens, accounting for $3.2 million. Cumulatively, the owner has endured a loss of nearly $1.74 million in $PEPE trades, indicating a substantial decrease in token value.
$PEPE Price Volatility
Currently, $PEPE tokens are trading at $0.00001742, reflecting a 3.99% decrease over the past twenty-four hours. Over the past week, the token's price has dropped by 14.16%, and by 31.12% over the current month, raising concerns about the token’s stability.
Increasing Market Instability
The mentioned $PEPE sale by the owner points toward the growing unease among top holders as the market faces increasing instability. The recent decline has paved the way for broad-ranging sell-offs across several speculative assets like $PEPE. This highlights the diminishing confidence in the crypto token’s short-term potential, which may dissuade new market entrants and raises questions about the sustainability of meme tokens.
Amid the current downturn in the crypto sector, $PEPE faces new challenges despite its substantial market presence.
