A prominent Pepe ($PEPE) coin investor made a substantial second sale of their holdings. The initial wallet bought 1.5 trillion $PEPE tokens during its early stage.
The purchaser of 150 billion $PEPE tokens, valued at $1.14 million, sold this position recently as the token decline reached 7% from its previous day’s value.
Whale Activity Underscores Profit Realization Phase
The wallet trades showed 1.02 trillion $PEPE sales, leading to approximately $6.66 million in revenue.
The account’s latest 150 billion token sale resulted in the complete sell-off of two-thirds of its original ownership.
Although this investor holds 493 billion $PEPE worth $3.64 million today, they made $10.3 million from their investment. This has seen them double their initial capital.
The significant movement of early investments indicates that $PEPE coin is entering a market transition, which could see prices fall further.
Holders choose to extract profit as they prepare for downward price trends. Pepe held a trading price of $0.00…1358 at the time of writing.
On the other hand, the current market conditions have proven challenging for other leveraged traders.
One example experienced substantial financial losses while attempting to capitalize on $PEPE price rises.
The trader engaged in long-term trading of $PEPE through the Hyperliquid platform by entering a 10x leveraged position.
Prices delated to the extent that the position incurred losses over $3.36 million. The trader prevented liquidation by adding $3.8 million USDC to the trading position before reducing selected holdings to control the situation.
Both whale sell-offs and margin pressures have initiated a chain reaction that directly affects market sentiment and traders’ behavior in this market.
Pepe Coin Price Performance: 24-Hour Drop Mirrors Market Sentiment
Pepecoin’s 4-hour charts reveal ongoing bearish market conditions. The meme coin made its highest mark around 0.00000926 USDT but has since descended.
This is while staying inside the designated red descending channel. Long-term buyer weakness is becoming evident as the corrective movement shows the price moving from one lower high to another lower low.
Currently, the token trades in the 0.00000728 range as it connects with an established support area on the chart.
Historically, this 0.00000700 to 0.00000730 price range saw markets consolidate. This makes it a potential short-term support when buying interest emerges to protect the zone.
The stochastic RSI on the chart indicates extensive oversold conditions, with its current blue value at 15.07 and its orange value at 12.50.
The exhausted bearish momentum signals a potential relief bounce may occur in the market.
The OG investor has sold about 70% of their holdings and secured significant profits.
However, he might still create added pressure through continued selling from this wallet.
Future price fluctuations will depend on how the token holder exits their remaining 493 billion tokens.
Generally, conditions signal bearishness on Pepe coin as investors show increasing caution in the market.
The support zone must maintain its position, or rising buying activity must emerge before bearish conditions show signs of easing up.
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