PEPE’s Big Slip: Whale Drops $4.8M Stake – But Still Outshines the Memecoin Mob! 🐸💥

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MarketsBehold the mighty PEPE, pictured here in its natural habitat: a chaotic crypto jungle. 🐸🌿

What to know:

  • A major PEPE token holder, perhaps a mischievous squirrel with a penchant for chaos, sold 500 billion tokens worth $4.8 million on Binance, sending shivers through the market. 🐿️💸
  • Despite the sell-off, PEPE bounced back like a rubber ball dropped from a skyscraper, with whales on Ethereum flexing their 1.46% gains over 30 days. 🐋📈
  • The token is still facing resistance below $0.00001, but has outperformed the broader memecoin market, which lost almost 3% of its value-like a sad clown at a party. 🎪📉

Popular memecoin PEPE dropped roughly 1% as a major token holder sent 500 billion tokens valued around $4.8 million to Binance, adding selling pressure and making investors weep into their coffee. ☕😢

The move comes amid a 40-day downtrend that cost the trader roughly $450,000. Tokens are often transferred to accounts on exchanges in preparation for an impending sale, like a dragon hoarding gold. 🐉💰 The token most recently traded at $0.00000992, according to market data, bouncing from earlier lows near $0.00000938. Prices swung within a 6% range before recovering toward resistance at $0.00000983. 🌀

The whale, according to blockchain data, is still holding onto 1.5 trillion PEPE tokens worth more than $14 million. A true crypto titan, but also a bit of a cheapskate for not selling all. 🐘💸

More than 3.26 trillion PEPE tokens changed hands during the session, with the strongest volumes recorded during the recovery phase, according to CoinDesk Research’s technical analysis data model. It’s like a dance party where everyone’s trying to out-shuffle the next person. 🕺

After dipping to the session’s low, PEPE rebounded sharply as buyers stepped in at support levels. That surge lifted the price close to an intraday peak, proving that even in the crypto world, hope is never truly dead. 🌟

The market responded to the transfer with sustained buying interest, a sign of confidence or opportunistic accumulation. Still, bearish pressure hasn’t vanished. Resistance remains firm just below $0.00001, and price action continues to test support levels like a toddler testing a parent’s patience. 🧒📉

Nansen data supports the case for opportunity accumulation, as it shows that PEPE whales on Ethereum added 1.46% to their holdings over the past 30 days. A whale’s wallet is always full, but their heart? Who knows. 🐋💔

PEPE is outperforming the broader memecoin market. As measured by the CoinDesk Memecoin Index (CDMEME), the sector lost almost 3% of its value over the past 24 hours, more than PEPE’s near 1% decline. A small victory, but a victory nonetheless. 🏆

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2025-09-01 15:01