CandleFocus Whale dumps 254B PEPE tokens amid persistence bearishness; what’s next for PEPE price?
2024-11-27
Author: Content Editor
Former Binance CEO Changpeng Zhao expressed concerns about meme coins and urged developers to focus on building real applications using blockchain technology. His remarks caused a drop in the meme token sector, with the overall market capitalization declining to $115 billion. Amidst this uncertainty, a large-scale investor deposited 254.65 billion PEPE tokens to Binance, making a profit of $4.81 million. The deposit of tokens by whales typically leads to increased selling pressure and price dips. PEPE has lost around 10% of its value over the past week and technical indicators suggest further price declines. However, analysts believe that the altcoin market will eventually rebound, potentially benefiting PEPE's price.
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