PEPE Meme Coin Bearish Streak Continues as Whale Dumps 9T Tokens

This post was originally published on Coinspeaker

Pepe reached an all-time high of 256,000 holders, bringing the attention of the digital asset sector to the meme coin.

Pepe (PEPE), one of the leading meme coins in the digital asset space, has witnessed a 12% decline in prices in the past week and a 27% crash in the past 30 days. However, it seems that the bearish trend is not going to be over soon, as recently, a whale dumped 9 trillion tokens of the meme coin as investors wondered if they should brace for another impact.

The leading cryptocurrency, Bitcoin (BTC), fell significantly in the past few days after bankruptcy crypto exchange Mt. Gox announced that it would distribute Bitcoin worth billions to creditors and the German government dumped more than 12,000 BTC as well. Following Bitcoin, altcoins and meme coins crash significantly, with PEPE price action also getting affected.

As pointed out by Whale Alert in a post on social media platform X, the whale transferred the 9 trillion PEPE tokens leading digital asset Bybit, indicating that the address aims to sell these tokens. The 9 trillion tokens are worth $81.6 million at the current price of the meme coin.

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