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%.

佩佩幣（Pepe coin）是一款獨特的青蛙主題 meme 幣，近期以其出色的表現吸引了全球加密社群的注意。該代幣出乎更廣泛的加密市場預期，飆升至前所未有的水平，標誌著月度漲幅超過 100% 的重大多頭市場。

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.

在 Pepe 幣價格顯著上漲的過程中，市場上出現的鏈上數據表明，一位聰明的交易者將近 2,020 億個 PEPE 轉移到了加密貨幣交易所。這筆交易引發了人們認為佩佩幣的價格可能已經見頂的情緒。

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

儘管如此，市場統計數據似乎為未來以青蛙為主題的迷因代幣描繪了一幅樂觀的圖像。

Smart Money Offloads PEPE Amid Price Rally, Sparking Speculations

Smart Money 在價格上漲之際拋售 PEPE，引發猜測

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.

根據鏈上分析平台 Lookonchain 公佈的見解，智能交易員 0x843df 將 2018.5 億個 PEPE（價值 283 萬美元）轉移到 Bybit 加密貨幣交易所以獲利。值得注意的是，該交易員已交易 PEPE 3 次，勝率達到驚人的 100%。這位聰明交易者的成功率引發了人們對代幣無法超前上漲的擔憂。

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.

同時，有關此次拋售是交易員「害怕錯過」拋售跡象的猜測也盛行。如上所述，佩佩幣違反了所有市場預期，最近幾天上漲至難以想像的水平。這也激起了市場情緒，認為代幣可能會進行調整。總的來說，這些情緒的同時出現呼應了加密貨幣市場交易者和投資者的投機熱潮。