Pepe Coin

Pepe

NEXT GEN PEPE

Pepe Coin experienced a significant price drop today after its developer team sold a large quantity of the meme coin. The PEPE price fell by around 4%, halting its recent upward trajectory. In other words, this development comes despite the coin enjoying substantial gains over the past few weeks, fueled by investor enthusiasm and the surge in the Ethereum coins.
<h2 id="span-data-preserver-spaces-true-pepe-coin-price-slips-as-developer-team-sells-21b-pepe-span">Pepe Coin Price Slips As Developer Team Sells 21B PEPE</h2>
The <a href="https://coingape.com/pepe-coin-extends-weekly-rally-to-over-80-amid-whale-accumulation/" target="_blank" rel="noopener noreferrer nofollow">PEPE Coin</a> has gained notable traction over the past few weeks, with its price touching a new high recently. In addition, several large&nbsp;transactions of the crypto&nbsp;have also caught the eyes of the investors, reflecting the growing confidence of the investors towards the crypto.
However, the recent sale by the <a rel="noopener noreferrer nofollow" href="https://platform.spotonchain.ai/en/profile?address=0x310039f661e9fbd3518d2820221ed135fc99cbdd" target="_blank">PEPE developer team</a> seems to have shaken market confidence. Blockchain tracking platform Spot On Chain reported that the team sold 21.49 billion PEPE, valued at $355,000, via Binance and <a href="https://coingape.com/glossary/decentralized-exchange/" target="_blank" rel="noopener noreferrer nofollow">decentralized exchanges (DEXs)</a>. Notably, this sale followed a 130% surge in&nbsp;PEPE’s&nbsp;price over the last month, marking a new all-time high for the meme coin.
Meanwhile, Spot On Chain highlighted the&nbsp;developer’s&nbsp;pattern of selling&nbsp;and noted that the developer team has often sold Pepe since the price started soaring in&nbsp;“late February“.&nbsp;As per&nbsp;the report,&nbsp;the developer team sold 282.8 billion PEPE, worth $2.28 million, before the price dropped.
<figure style="width: 100%" class="wp-caption aligncenter"><img decoding="async" src="https://pbs.twimg.com/media/GOoIjSyboAA05hc?format=jpg&amp;name=large" alt="Pepe Coin Developer Team Holdings" width="752" height="462">
 <figcaption class="wp-caption-text">
 Source: Spot On Chain, X
 </figcaption>
</figure>
Notably, this trend suggests that the&nbsp;developer’s actions are closely tied to price movements, potentially contributing to the volatility. However, despite these significant sales, the PEPE developer team retains a substantial amount of the <a href="https://coingape.com/meme-coin/" target="_blank" rel="noopener noreferrer nofollow">meme coin</a>.&nbsp;
As of the latest reports, they hold 2.52 trillion PEPE, valued at approximately $42.7 million. This large holding continues to&nbsp;pose a risk to&nbsp;market stability, as future sales could further impact the price.
Also Read: <a href="https://coingape.com/xrp-whale-offloads-28m-coins-despite-optimism-for-1-run-ahead-what-happening/" target="_blank" rel="noopener noreferrer nofollow">XRP Whale Offloads 28M Coins Despite Optimism For $1 Run Ahead, What’s Happening?</a>
<h2 id="span-data-preserver-spaces-true-community-reactions-and-future-implications-span">Community Reactions and Future Implications</h2>
The&nbsp;community’s&nbsp;reaction to the developer sales has&nbsp;been mixed. Some investors are concerned about the potential for future sell-offs, which could depress the&nbsp;coin’s&nbsp;value. Others remain optimistic, viewing the current dip as a temporary setback in the broader context of&nbsp;PEPE’s&nbsp;growth trajectory.
Besides, the timing of the sales, coinciding with price peaks, has led to speculation about the&nbsp;developer’s&nbsp;intentions. While some argue that this strategy might&nbsp;be aimed&nbsp;at capitalizing on high prices, others believe it could be part of a broader plan to ensure liquidity and fund ongoing development efforts.
Notably, Pepe&nbsp;Coin’s recent performance has attracted considerable attention in the cryptocurrency world, with its dramatic price movements highlighting both&nbsp;its potential and volatility. As the coin continues to evolve, investors will&nbsp;be closely watching&nbsp;the developer&nbsp;team’s&nbsp;actions and broader market trends.
Meanwhile, as of writing, <a href="https://coingape.com/price/pepe-coin/" target="_blank" rel="noopener noreferrer nofollow">PEPE Coin price</a> was down 3.67% and exchanged hands at $0.00001636,&nbsp;after touching its all-time high of $0.00001718 in the last 24 hours.&nbsp;Over the last&nbsp;24 hours, the meme coin has touched a low of $0.00001569.
Also Read: <a href="https://coingape.com/spot-ethereum-etf-s-1-approval-potential-date-revealed-heres-everything/" target="_blank" rel="noopener noreferrer nofollow">Spot Ethereum ETF S-1 Approval Potential Date Revealed, Here’s Everything</a>
The post <a href="https://coingape.com/pepe-coin-price-slips-dev-team-sells-22b-pepe-what-next/" rel="noopener noreferrer nofollow">Pepe Coin Price Slips As Dev Team Sells 22B PEPE, What’s Next?</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Pepe Coin Price Slips As Dev Team Sells 22B PEPE, What’s Next?

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