The sale of PEPE coin by a large whale has raised concerns about possible future selling pressures in the market. This sell-off creates uncertainty among PEPE investors, while Bitcoin (BTC) $93,505.3 It brought with it concerns that selling pressure might increase in the market.
PEPE Coin Whale Transactions
In a transaction reported by Lookonchain, it was stated that a PEPE coin whale offered 85 billion PEPE coins in his portfolio for sale. This sale caused the whale to suffer a total loss of $1.74 million, in addition to a loss of $3.2 million on the remaining 180.8 billion PEPE coins.
Today’s price of PEPE Coin traded at $0.00001766. It lost value by 3.10% in the last 24 hours and 13.87% in the last 7 days. A 4.52% decrease was also observed in open positions. It was stated that the decline in the price accelerated with the break of the $0.00002062 support level and has been in free fall since then.
Concerns About Bitcoin (BTC)
The possibility of the US government selling approximately $6.7 billion of seized Bitcoins to the market has caused speculation that there may be a further decline in BTC prices. El Salvador President Nayib Bukele and investor Robert Kiyosaki stated that a further decrease in the BTC price would be an opportunity for investors due to its future increase potential.
“The decline in BTC price provides an opportunity to enter the cryptocurrency at discounted prices.” – Nayib Bukele
El Salvador’s President Nayib Bukele sees the recent decline in BTC prices as a buying opportunity for the future rise of the mainstream cryptocurrency. This view has not yet created a generally positive atmosphere in the market.
The cryptocurrency market is expected to continue to fluctuate until crypto-friendly regulations are introduced after the US Presidential elections. New President Trump has already signaled that he may take steps in this direction by hosting important figures from the cryptocurrency market and appointing crypto-friendly names. In light of these developments, it is predicted that PEPE Coin and other meme coins may experience a strong recovery despite selling pressures.
Finally, these major sales in the PEPE Coin market attract the attention of other investors. Market experts state that the impact of major investor movements on market dynamics will continue and this may require investors to review their strategies.
Whale sales in the PEPE Coin market and developments regarding BTC carry important signals for cryptocurrency investors. Such large trades can play a critical role in understanding market trends and potential price movements.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
