Pepe

PEPE

NEXT GEN PEPE

Today, June 4, 2024, the overall cryptocurrency market is struggling in terms of price gain in the last 24 hours. In this struggling phase, a recent report from an on-chain analytic firm, Spotonchain, gathered massive attention from crypto investors as well as traders. During Asian trading hours, Spotonchain made a post on X (previously Twitter) that a PEPE whale had deposited a massive 366 billion PEPE tokens worth a massive $5.31 million to the Binance cryptocurrency exchange.&nbsp; Whale sold 366 billion PEPE token 
The effect of this massive PEPE deposit is observed on the price of PEPE as it has dropped by 5.5%. However, the major fall PEPE experienced is just following this whale deposit. However,Spotonchain mentioned in his post that after selling this massive PEPE holding this whale made a profit of approximately $4.84 million which is nearly to 985% gain on the whale’s initial investment. 
Following this deposit, PEPE is currently moving near $0.0000143, and in the last 24 hours, it experienced a 5.5% price fall, which might be influenced by the recent dump. If we look at the performance of PEPE over a longer period, in the last 7 days, PEPE tokens seem to struggle and lose more than 10%. Whereas, in the last 30 days, PEPE experienced a price drop of 64%.
Looking at the recent price drop in a shorter time frame highlights profit booking, which the PEPE token gained in the last 30 days. Whereas, in the last 24 hours traders and investors show lesser interest in PEPE as its 24-hour trading volume has dropped by 10%. PEPE technical analysis and key levels 
According to expert technical analysis, PEPE on the daily time frame is looking bearish for a shorter period. If the PEPE daily candle gives a closing below $0.0000139 then we may see a massive 20% of price drop. However, if the market surge and sentiment change then in the coming days we may see an upside momentum of 15%.
Besides PEPE, other <a href="https://news.todayq.com/floki-inu-jumps-15-will-it-mirror-pepes-surge/" rel="noopener noreferrer nofollow">top meme coins</a> including DOGE, SHIB, WIF, BONK, and a few others seem struggling and they also experienced a price drop of 2%, 5%, 0.5%, and 1% respectively. Whereas, top cryptocurrencies like Bitcoin, Ethereum, Solana, and Binance Coin are also struggling to gain momentum.

PEPE whale sell-off 366 billion tokens, Will Pepe rally halt here?

Todayq News

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