Know Why Pepe Coin Plummets By -18.0% Today



Nilesh  Hembade

PepeCoin (PEPE) experiences a sharp decline of -18% in its value today, based on data from coinmarketcap. 

Lookonchain, report that PepeCoin's developers transferred a significant amount of tokens (16 trillion PEPE) from a multi-signature "CEX wallet." 

Around 8.5 trillion tokens from the transferred amount were quickly sold on the OKX exchange, directly contributing to the substantial drop in PepeCoin's market value. 

The distribution of the funds, revealing major allocations to platforms like OKX ($8.3 million), Binance ($6.6 million), Bybit (about $440,000), and an unidentified wallet ($400,000). 

The trading trend for PepeCoin has been notably bearish, with a significant 24-hour trading volume surpassing $315.56 million. 

Early investors of PepeCoin are capitalizing on the situation, exemplified by the recent sale of 1.88 trillion PEPE tokens for 1,010 ETH (approximately $1.68 million). 

Disclaimer: The information provided regarding cryptocurrencies is for general informational purposes only. It is not intended as financial or investment advice.