Know Why Pepe Coin Plummets By -18.0% Today

POSTED: 25-AUGUST -2023 Nilesh Hembade

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

[{"selector":"#anim-f686ebea-00b9-49de-a7fe-79cab7e59684","keyframes":{"opacity":[0,1]},"delay":800,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-47d6678d-8c8d-492a-991e-a6d166ba9cef","keyframes":{"transform":["translate3d(-109.85508%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":800,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-13613c4f-00d9-4d38-aa59-6d89768783d7 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":800,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

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

[{"selector":"#anim-ddcaaccf-bb2f-4b7d-a770-5cab3faa19c7 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":800,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-db8b1f44-c4dc-4432-b277-13f257354a01","keyframes":{"opacity":[0,1]},"delay":800,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-9f58f301-9af2-4143-8011-1ee43b4ca394","keyframes":{"transform":["translate3d(-109.85508%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":800,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

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.

[{"selector":"#anim-5d1ec40d-66fa-41df-a2d2-b3d8ba636f5c [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":800,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-a11370f5-9cc5-4da8-92e2-231d148d81df","keyframes":{"opacity":[0,1]},"delay":800,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-5d7054ea-23bf-4af5-961f-29ddf51f494d","keyframes":{"transform":["translate3d(-109.85508%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":800,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

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).

[{"selector":"#anim-ed014f67-84c2-42ac-a90e-aca93f10654e [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":800,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-c04a9e76-cd6d-420f-a487-d7a47c886817","keyframes":{"opacity":[0,1]},"delay":800,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-d1700f07-fd75-46c8-9085-4498151403b2","keyframes":{"transform":["translate3d(-109.85508%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":800,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

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

[{"selector":"#anim-5925a63b-ceca-43c5-a602-c9175cf8b42b [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":800,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-9bd785ce-8481-4f4a-9920-efe71e8f94fa","keyframes":{"opacity":[0,1]},"delay":800,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-2859effd-6d2a-4768-8aef-663db25955ce","keyframes":{"transform":["translate3d(-109.56522%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":800,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

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).

[{"selector":"#anim-b119ce75-ce08-4e95-bef4-30fb965c9837 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":800,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-fe46856c-4326-484c-9a3a-fd8be523c107","keyframes":{"opacity":[0,1]},"delay":800,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e30e03c3-2572-4d9b-a155-774b73ef5832","keyframes":{"transform":["translate3d(-109.85508%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":800,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

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

[{"selector":"#anim-6aea6f11-f515-4063-8325-17888d8e46a6 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":800,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-ff67d396-e31f-4e54-858c-0e6d969db654","keyframes":{"opacity":[0,1]},"delay":800,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-53b4f0e3-5a62-4487-b176-11ed9cb9903c","keyframes":{"transform":["translate3d(-109.85508%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":800,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]