Pepe

Pepe Coin

Pepe coin has sparked severe investor concerns in the shadow of the <a href="https://coingape.com/crypto-prices-today-june-18-bitcoin-nosedives-65k-ethereum-sinks-5-amid-bearish-market/" target="_blank" rel="noopener noreferrer nofollow">crypto market’s</a> bearish trajectory today, June 18. Showing signs of a correction in the past 24 hours, the frog-themed meme coin has garnered bearish market sentiments, further amplified by a whale’s colossal selloff. Notably, over 1 trillion PEPE was dumped to Binance, per on-chain data surfacing across the market. This has stirred a whirlpool of speculations on Pepe coin’s future price trajectory.
<h2 id="whale-offloads-1-15-tln-coins-raising-investor-concerns">Whale Offloads 1.15 Tln Coins Raising Investor Concerns</h2>
According to data streamlined by Whale Alert, 1.15 trillion PEPE, worth $12.34 million, was dumped to <a href="https://coingape.com/binance-key-announcement-wif-bonk-floki-not-zk-crypto/" target="_blank" rel="noopener noreferrer nofollow">Binance</a> by an unknown address, 0x835678a6. This massive transaction brings considerable selling pressure to the asset. Also, a sense of reduced market confidence in the asset’s future potential is highlighted by the colossal selloff.
However, despite the massive dump, the whale in question held a substantial amount of PEPE, along with other tokens. According to Etherescan’s data, the whale’s holdings included 6.77 trillion PEPE, valued at $71.86 million, and 2.19 trillion SHIB, worth $39.51 million. The remaining holdings encompass a variety of tokens, such as LINK, MATIC, RNDR, OM, and more.
Meanwhile, the PEPE price plummeted, falling in line with usual market sentiments with such dumps.
Also Read: <a href="https://coingape.com/andrew-tate-predicts-solana-downturn-to-boost-real-projects-to-ath/" target="_blank" rel="noopener noreferrer nofollow">Andrew Tate Predicts Solana Downturn To Boost “Real” Projects To ATH</a>
<h2 id="pepe-price-dips">PEPE Price Dips</h2>
As mentioned above, <a href="https://coingape.com/price/pepe-coin/" target="_blank" rel="noopener noreferrer nofollow">PEPE’s price</a> showed signs of a correction, dipping 9.21% in the past 24 hours to $0.00001055. The token’s daily bottoms and peaks are $0.000009865 and $0.00001176, respectively.
Coinglass data shows Pepe coin experienced substantial liquidations from yesterday to date, totaling $6.78 million collectively. This is also attributable to PEPE’s recent price correction.
PEPE’s Futures OI dropped 14.52% to $109.67 million, underscoring declining investor interest in the futures market. However, the derivatives volume spiked by 79.19% to $1.96 billion, possibly due to speculative trading.
The RSI hovered at 38, underlining downside pressure on the asset. Further downside pressure could bring the coin into an oversold territory, readying it for a potential price rebound ahead. Also, a potential crypto market recovery could fuel a bolstered price movement shortly ahead.
Also Read: <a href="https://coingape.com/trending/floki-price-drops-50-from-ath-will-it-recover-any-time-soon/" target="_blank" rel="noopener noreferrer nofollow">Floki Inu Price Drops 50% From ATH: Will It Recover Any Time Soon?</a>
The post <a href="https://coingape.com/pepe-coin-whale-dumps-1-tln-coins-to-binance-price-risks-further-dip/" rel="noopener noreferrer nofollow">Pepe Coin Whale Dumps 1 Tln Coins To Binance, Price Risks Further Dip?</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Pepe Coin Whale Dumps 1 Tln Coins To Binance, Price Risks Further Dip?

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