Ethereum

Pepe

Strong

<ul> 
 <li><strong>The developer behind the memecoin PEPE had sold around 16 trillion tokens.</strong></li> 
 <li><strong>The trading volume of PEPE has experienced a surge of 285.27%.</strong></li> 
</ul> 
<p>Pepe (PEPE), the frog-themed memecoin, has experienced a massive downtrend, resulting in a decline of around 20% in the last 24 hours. Adding to that, the <a href="https://thenewscrypto.com/pepe-memecoin-pumps-over-12-surge-in-the-last-24h/" target="_blank" rel="noopener noreferrer nofollow">developer</a> behind Pepe memecoin has moved over 16 trillion PEPE tokens, worth $15.6 million.</p> 
<div align="center"> 
 <blockquote class="twitter-tweet"> 
  <p lang="en" dir="ltr">PEPE DEVS DUMPING <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f631.png" alt="😱" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f631.png" alt="😱" class="wp-smiley" style="height: 1em; max-height: 1em;"><br> <br>In the past few hours, <a href="https://twitter.com/pepecoineth?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@pepecoineth</a> devs have sold over 16T <a href="https://twitter.com/hashtag/PEPE?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#PEPE</a> tokens, worth over $15.6M.<br> <br>They still hold around 2.5% of the total supply, so keep an eye on their wallet.<br> <br>Their wallet address <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f447.png" alt="👇" class="wp-smiley" style="height: 1em; max-height: 1em;"><br> <br>0x5BdEA820293689B77FA8e83b1E3D58B27B5ce9BA <a href="https://t.co/ptVqPvBEq9" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/ptVqPvBEq9</a></p>— Global Rashid (@globalrashid007) <a href="https://twitter.com/globalrashid007/status/1694952115540820286?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">August 25, 2023</a> 
 </blockquote> 
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
</div> 
<p>On August 25, a crypto influencer tweeted that the developer behind the memecoin PEPE had sold around 16 trillion tokens. The transactions are worth around $15.6 million. However, the account still holds 2.5% of the total supply. So the crypto community is closely watching the wallet and its impact on the memecoin price.</p> 
<h3 class="wp-block-heading" id="h-pepe-experiencing-strong-downtrend">Pepe Experiencing Strong Downtrend&nbsp;</h3> 
<p>Following that, Lookonchain, the crypto transaction <a href="https://twitter.com/lookonchain?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor" target="_blank" rel="noopener noreferrer nofollow">analyzer</a>, reported some notable transactions of the memecoin Pepe. A few hours ago, an early buyer of the memecoin Pepe dumped 1.88 trillion tokens for 1,010 Ethereum (ETH) worth $1.68 million on the Decentralized Exchange (DEX).</p> 
<p>After that, Pepe’s multi-sig wallet and Wintermute Trading deposited over 17.3 trillion worth of around $18 million to the crypto exchanges. Following the Pepe team’s deposit, another early buyer of Pepe also dumped 932 billion Pepe for 524 Ethereum, worth around $870K. The <a href="https://thenewscrypto.com/crypto-news-breaking-pepe-purchased-in-billions-what-has-been-sold-then/" target="_blank" rel="noopener noreferrer nofollow">trading activity</a> surrounding the memecoin Pepe has started reflecting on its price. On the other hand, the trading volume of memecoin has shown a massive increase after continued transactions.</p> 
<p>At the time of writing, Pepe is trading at $0.0000008979, with a decline of over 16.77% in the last 24 hours. However, the daily trading volume of PEPE has experienced a surge of 285.27%, according to <a href="https://coinmarketcap.com/currencies/pepe/" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap</a>. Moreover, memecoin has become the second trending cryptocurrency on the CoinMarketCap list.</p>

Pepe Drops Over 16% After Massive Dump

Table of Contents

TheNewsCrypto

Other articles published on Aug 25, 2023

Ethereum Price Analysis: ETH In Sellers Hand, Targeting $1100

Google Bard’s Ethereum Price Prediction for Next Bull Market

SHIB Team Member Reveals Update on Shibarium, BTC Should Hit $148,000 After Halving Per Bold Pred...

Top 5 Fan Tokens by Market Cap: Which Ones Are Worth Investing In?

FTX crypto exchange reports data breach involving claims agent Kroll

Algorand may instigate a buzz but will ALGO traders buy into the hype?

Join our free newsletter for daily crypto updates!