Pepe Coin: Smart Trader Sells 202B PEPE To Nab Profits, More Steam Left?

Pepe coin, a unique frog-themed meme coin, has recently captured the attention of the global crypto community with its remarkable performance. Defying the broader crypto market’s expectations, the token has surged to unprecedented levels, marking a significant bull run with monthly gains exceeding 100%.

Amid this remarkable rising price trajectory embarked upon by Pepe coin, on-chain data surfacing within the market illustrated that a smart trader offloaded nearly 202 billion PEPE to a crypto exchange. This transaction has sparked sentiments that Pepe coin’s price may have potentially topped.

Nonetheless, market statistics appear to contrastingly paint an optimistic picture for the frog-themed meme token ahead.

Smart Money Offloads PEPE Amid Price Rally, Sparking Speculations

According to insights unveiled by the on-chain analytics platform Lookonchain, the smart trader 0x843df offloaded 201.85 billion PEPE, worth $2.83 million, to the Bybit crypto exchange to take profits. Notably, this trader has traded PEPE 3 times with a staggering 100% win rate. The success rate of this smart trader has raised concerns over the coin’s potential to not pump ahead.

Meanwhile, additional speculations that the selloff is a sign of FOMO selling by the trader also prevail. As mentioned above, Pepe coin has defied all market expectations, rallying to unthinkable levels in recent days. This has also stirred market sentiments that the coin may be due for a correction. Collectively, the occurrence of these sentiments in tandem has echoed a speculative buzz among crypto market traders and investors.