Whale Sells 531.5 Billion PEPE Tokens, Causing 4.76% Price Drop

A significant event unfolded in the cryptocurrency market as a major PEPE holder, often referred to as a "whale," sold 531.5 billion tokens on the Binance exchange. This transaction resulted in a realized loss of $465,000, marking an 8.41% decrease in value over a one-week holding period. The whale had acquired the tokens approximately a week earlier, and the sale followed a period of market volatility that narrowed profit margins for PEPE holders.

The sale of 531.5 billion PEPE tokens, valued at around $5.06 million, was one of the largest short-term losses involving PEPE this week across centralized exchange addresses. This move by the whale had a notable impact on the market, contributing to a 4.76% price drop for PEPE over the past 24 hours. As of the latest data, PEPE was trading at $0.00009220, with a market capitalization of $3.87 billion. The trading volume reached $694.11 million, reflecting moderate trading activity with a volume-to-market cap ratio of 17.85%.

Despite the recent bearish trend, technical analysis indicates that PEPE remains within an ascending channel. This pattern is characterized by consistent higher lows and upward price reactions along the lower trend line. The token recently reacted near the 61.8% Fibonacci retracement level, a zone that has historically led to quick recoveries toward the upper boundary of the channel. The chart shows repetitive cup-like patterns, suggesting consolidation phases followed by large breakouts.

A potential upside target for PEPE is projected at $0.000397016, representing a 40X increase from the current level. This projection is based on earlier price movements where PEPE tested the lower channel band and then advanced. The current market structure has not broken the trend line, and if the price continues to follow the channel’s trajectory, future movements may reach the upper band. The price reaction at this level will be crucial in determining the short-term direction within the current structure.

The number of PEPE holders currently stands at 454,700, indicating stable user participation despite the recent price fluctuations. The market conditions remain bearish, with downward movements persisting through most of the trading sessions. These developments follow increased volatility across the meme coin sector, driven by large-scale token transfers. The price chart shows a steady decline throughout the day, with multiple failed attempts to regain momentum. The daily high was approximately $0.0000968 before trending downward, closing near the day’s lowest levels.