Pepe Coin Whale Dumps 9T PEPE; Token Price Down By 14% WoW

Pepe Coin Market Update

Pepe coin (PEPE) has recently experienced a bearish trend, with a 14% correction over the past week. Amidst this market sentiment, a substantial whale has transferred 9 trillion PEPE to Bybit.

Conversely, data indicates that 2 trillion PEPE has been staked on Sophon, triggering speculation regarding the underlying motive.

Market Activity Highlights

• Whale address 0x2da staked 2 trillion PEPE (worth $18.42 million) on the Sophon blockchain project.
• The whale acquired these tokens at a low cost of $2.33 million and now has an unrealized profit of $16.09 million.
• Whale Alert reported a massive transfer of 9 trillion PEPE (worth $82.17 million) to Bybit by address 0x88a14933.
• Market maker Wintermute also sold 702 billion PEPE to Binance.

Impact on Pepe Coin Value

Despite the broader crypto market trend, PEPE has recorded negative performance, coinciding with the significant dumps of PEPE to exchanges. The massive transfer of 9 trillion PEPE has fueled further market speculation.

Future Outlook

The recent market activity suggests that Pepe coin may face continued volatility in the near term. However, the staking of 2 trillion PEPE raises questions about potential long-term value. Further analysis will be necessary to determine the impact of these developments on PEPE's market performance.