PEPE Price Drops Significantly, Exacerbated by Whale Movement

PEPE 价格大幅下跌，鲸鱼活动加剧了这种情况

On Saturday, PEPE's price plummeted drastically, reversing some of its gains from earlier in the week. The decline saw PEPE fall to $0.00001088, a 7.5% drop in 24 hours.

周六，PEPE 价格大幅下跌，扭转了本周早些时候的部分涨幅。 PEPE 下跌至 0.00001088 美元，24 小时内下跌 7.5%。

While PEPE's price struggles reflect the broader market downturn, recent whale movement has intensified the situation. A major crypto whale recently unloaded a substantial amount of PEPE tokens for ETH. On-chain data reveals that a single wallet swapped over 1.4 trillion PEPE tokens for ETH, contributing to the downward pressure on price.

虽然 PEPE 的价格困境反映了更广泛的市场低迷，但最近的鲸鱼运动加剧了这种情况。一只主要的加密鲸鱼最近抛售了大量 PEPE 代币以换取 ETH。链上数据显示，单个钱包将超过 1.4 万亿个 PEPE 代币兑换成 ETH，导致价格下行压力。

Whale "0x837" Triggers Exodus from PEPE

鲸鱼“0x837”引发PEPE撤离

Over the weekend, a notable PEPE whale, "0x837," executed a strategic shift by converting over $18 million from PEPE to Ethereum. This significant exit serves as a bearish signal for PEPE. The Ethereum holdings were subsequently staked into the Compound protocol, indicating a long-term investment strategy.

上周末，著名的 PEPE 鲸鱼“0x837”执行了战略转变，将超过 1800 万美元从 PEPE 转换为以太坊。这一重大退出对 PEPE 来说是一个看跌信号。随后，以太坊资产被投入到Compound协议中，这表明了长期投资策略。

On-chain data shows that the whale also deposited 300 billion PEPE, valued at approximately $3.85 million, into crypto exchange Binance. This deposit incurred an estimated $1.73 million loss. However, this was not an isolated incident.

链上数据显示，鲸鱼还向加密货币交易所币安存入了 3000 亿个 PEPE，价值约 385 万美元。这笔存款估计损失了 173 万美元。然而，这并不是一个孤立的事件。

The whale had initially deposited 1.1 trillion PEPE tokens worth $14.42 million to Binance, likely for conversion to ETH. In total, the whale has deposited 1.4 trillion PEPE on Binance within the past two days.

该鲸鱼最初向币安存入了 1.1 万亿个 PEPE 代币，价值 1442 万美元，可能会转换为 ETH。过去两天内，鲸鱼在币安上总共存入了 1.4 万亿个 PEPE。

Furthermore, data reveals that "0x837" withdrew 1,728 ETH worth $5.86 million from Binance, increasing its ETH accumulation to 4,374 ETH valued at $14.91 million over the last two days.

此外，数据显示，“0x837”从币安提取了 1,728 个 ETH，价值 586 万美元，过去两天其 ETH 积累量增加至 4,374 个 ETH，价值 1,491 万美元。

Ethereum Spot ETFs Fuel Sentiment

以太坊现货 ETF 刺激市场情绪

The whale's decision to convert all PEPE holdings into ETH, despite incurring a loss, suggests a deliberate strategic investment. This action reflects market confidence in Ethereum, driven by the anticipated launch of Spot Ethereum ETFs in July.

尽管遭受损失，鲸鱼还是决定将所有 PEPE 资产转换为 ETH，这表明这是一次深思熟虑的战略投资。这一行动反映了市场对以太坊的信心，这是由预计于 7 月份推出的现货以太坊 ETF 推动的。

Many market participants have drawn parallels to the events surrounding the launch of Spot Bitcoin ETFs, speculating that Ethereum could experience a similar surge in demand.

许多市场参与者将现货比特币 ETF 推出的事件进行了类比，推测以太坊可能会经历类似的需求激增。

While the launch of Spot Ethereum ETFs may not generate the same level of excitement as Bitcoin ETFs due to differences in market size, it remains a positive catalyst for Ethereum.

尽管由于市场规模的差异，现货以太坊 ETF 的推出可能不会产生与比特币 ETF 相同程度的兴奋，但它仍然是以太坊的积极催化剂。

At the time of writing, PEPE is trading at $0.00001129, showing a slight recovery from Saturday's lows. However, the meme token has faced a 3.58% decline over the past 24 hours and a 3.77% drop in the past week. Ethereum has also experienced a 3.2% decline in the last seven days, currently trading at $3,390.

截至撰写本文时，PEPE 交易价格为 0.00001129 美元，较周六低点略有回升。然而，meme 代币在过去 24 小时内下跌了 3.58%，在过去一周下跌了 3.77%。以太坊在过去 7 天也经历了 3.2% 的下跌，目前交易价格为 3,390 美元。