Half a Trillion Pepe Transfer Stuns Major US Exchange

Pepe Coin Sees Major Shakeup with $4 Million Transfer

The meme coin market experienced a significant shift in the last 24 hours as a substantial transfer of Pepe Coin (PEPE) occurred.

High-Profile Investor Sells 500 Billion PEPE

According to blockchain data from Lookonchain, a prominent investor sold 500 billion PEPE, valued at approximately $4 million, directly to Kraken, a leading US-based cryptocurrency exchange. The transaction was completed within 15 minutes.

Whale's Position Reduced by Trillions

Prior to this transaction, the same whale held a substantial position of 750.38 billion PEPE, worth around $8.34 million, acquired through purchases on Kraken. However, after the recent divestment, the holder now possesses 250.33 billion PEPE, valued at $2.02 million.

Meme Coin Price Outlook

The price of PEPE exhibited mixed trading during the past 24 hours, mirroring the broader market trend. Initially, PEPE surged by 6%, encountering resistance near $0.0000085. Subsequently, the price dipped to $0.0000077, where it encountered support.

Potential Market Bottom Indication

Such large transactions often influence price fluctuations and market sentiment. In this instance, the capitulation of a millionaire whale could signal an approaching market bottom, as witnessed by the adage "buy when there's blood in the streets."