Pepecoin (PEPE), which was launched in mid-April last year and experienced a big pump since its release, is currently continuing its downtrend.
PEPE, which became the focus of whales in a short time from its initial launch, has enabled whales to make huge profits with its rise.
While PEPE continues to decline, popular cryptocurrency platform Lookonchain says it has started selling at the expense of whales.
Sharing on his Twitter account, Lookonchain stated that he sold PEPE at the expense of two whales.
Accordingly, address 0x4614 sold 375.8 billion PEPE tokens worth $306,000 today. This sale of the whale caused a loss of 76 Ethereum worth 142 thousand dollars.
Lookonchain also stated that this whale previously earned 1,182 ETH ($2.2 million) from PEPE.
Lookonchain also stated that the whale named 0x6544 sold 257.9 billion PEPE tokens (worth $306,000) during the day with a loss of $35,000.
In addition, it was stated that another whale has invested 649 billion PEPE worth $761,000 in Binance.
"Whales sell PEPE.
A whale deposited 649 billion PEPE (worth $761,000) on Binance today.
The whale named 0x4614, which previously won 1,182 ETH ($2.2 million) in PEPE, sold 375.8 billion PEPE (worth 306 thousand dollars) with a loss of 76 ETH – 142 thousand dollars.
Another whale, 0x6544, which previously earned $352,000 on PEPE, sold 257.9 billion PEPE ($306,000 worth) at a loss of $35,000."
Whales/SmartMoneys are selling $PEPE.
A whale deposited 649B $PEPE($761K) 1 hr ago.
0x4614 who made 1,182 $ETH($2.2M) on $PEPE sold 375.8B $PEPE($306K) at a loss of 76 $ETH($142K) 1 hr ago.
0x6544 who made $352K on $PEPE sold 257.9B $PEPE($306K) at a loss of $35K 4 hrs ago. pic.twitter.com/w8crgva6S0
— Lookonchain (@lookonchain) June 5, 2023
PEPE continues to trade at $0.00000102 after the declines it experienced. It should not be forgotten that these altcoins suffer the most when the market turns upside down, especially if the coins that have come out recently and are making a big splash, especially if they do not serve a purpose and only benefit from the hype of a meme.
*Not investment advice.
