- On the last day, Pepe fell by 6.5% as the bearish sentiments started.
- A Pepe Whale has sold 150 billion tokens worth $ 1.14 million.
The last day, Pepe [PEPE] Has been the last victim of the reinforcing negative sentiments on the cryptom markets. Due to the current conditions, whales turned to sale.
According to Lookonchain, A Pepe walvis has made a huge deposit to exchange.
According to the report, this whale has sold 150 billion Pepe tokens worth $ 1.14 million. The whale had only spent $ 2,184 to buy 1.5 trillion tokens for $ 43 million in the early stages.
So far the whale has sold 1.02 trillion tokens worth $ 6.6 million.
Source: Intotheblock
In addition to these transactions, whales sold more than 2.95 trillion Pepe -Tokens in the past day, according to Intotheblock.
Although this is a decrease in 4 trillion, the sales activity of large holders was still considerably high.
When whales turn to the sale of an active one, this shows a lack of market confidence, which reflects strong areas. This transaction can further dampen the negative perception of the memecoin.
Impact on price cards
As expected, such a strong sales side has negatively influenced the price diagrams of the memecoin. In fact, Pepe actually acted at $ 0.00000719. This meant a decrease of 6.5% on daily graphs.
Similarly, the memecoin has fallen on weekly and monthly graphs, with 1.2% and 3.87% respectively.
The constant dip has left holders of long position with loss. As such, a trader who went on Pepe with 10x leverage is now more than $ 3.36 million, according to Lookonchain.
Will the Memecoin see more losses?
Source: TradingView
According to the analysis of Ambcrypto, Pepe experienced strong bearish sentiments while sellers dominated the market.
This became clear by the RSI, which made a bearish crossover last day. A Bearish Crossover suggests that there is aggressive sales for all market participants, so that buyers are moved.
Source: Coinglass
This sales pressure is further proven by a positive place Netflow. According to Coinglass data, Pepe’s Netflow has become positive and has hit $ 1.87 million for the first time in four days.
This shift means that there is more exchange rate inflow than outskirts, which is a reflection of strong bearish sentiments.
In conclusion, Pepe experiences strong bearish -by -the -season while investors close their positions. That is why, with whales and retailers, it reflects a lack of trust among all market participants.
When these two combine, the memecoin will probably see more losses on its price charts. Thus the long -term sales activity could see the memecoin fall below $ 0.0000070 to $ 0.0000069.
A reversal here, with buyers who re -introduce the market, will reclaim the Memecoin $ 0.0000073.
