2024

PEPE

Pepe

Spot

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The cryptocurrency market has been under significant pressure, with a widespread sell-off causing notable losses across various digital assets. Among the affected, PEPE and <a href="https://u.today/binance-receives-1266-million-wif-in-whale-moves-as-dogwifhat-drops-30">Dogwifhat</a> have recorded losses exceeding 10%, reflecting the broader market's bearish sentiment.
PEPE, a frog-themed meme coin, saw its price slump by 11% in the last 24 hours, falling to $0.0000102 at press time. Following this downturn, PEPE is down 18% in the last seven days.
Dogwifhat (WIF), another meme coin that operates within the Solana ecosystem, experienced a steep decline, tumbling 12.73% in the last 24 hours. At the time of writing, WIF was trading at $1.95 and remains down 3.61% over the past seven days.
The cryptocurrency market has been under pressure from several factors, leading to a wave of sell-offs. Macroeconomic conditions and waning investor sentiment are among the key contributors to the current bearish trend.
Likewise, recent movements by whales, or large holders, might have exacerbated the sell-off for Dogwifhat and PEPE, contributing to the sharp declines.
<h2 id="dormant-pepe-whale-revives-amid-sell-off">Dormant PEPE whale revives amid sell-off</h2>
In a surprising turn of events amid the ongoing cryptocurrency market sell-off, a long-dormant PEPE whale has come back to life.
<blockquote>
 After over 10 months of inactivity with <a href="https://twitter.com/search?q=%24PEPE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$PEPE</a>, dimethyltryptamine.eth returned to sell 10B <a href="https://twitter.com/search?q=%24PEPE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$PEPE</a> ($112K) for 32.73 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> ~5hrs ago.Notably, dimethyltryptamine.eth was an early <a href="https://twitter.com/search?q=%24PEPE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$PEPE</a> buyer who turned $45K into $26.7M (+58.6K%).Currently, the whale holds 1.99T <a href="https://twitter.com/search?q=%24PEPE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$PEPE</a> ($21.9M).… <a href="https://t.co/dlTwu3Q4u9">pic.twitter.com/dlTwu3Q4u9</a>— Spot On Chain (@spotonchain) <a href="https://twitter.com/spotonchain/status/1808324320760061979?ref_src=twsrc%5Etfw">July 3, 2024</a>
</blockquote> 
According to <a href="https://x.com/spotonchain/status/1808324320760061979">SpotOnChain</a>, a PEPE holder, dimethyltryptamine.eth, which had been inactive with its PEPE holdings for over 10 months, recently executed a significant sell-off. The whale sold 10 billion PEPE tokens, valued at $112,000, for 32.73 ETH a few hours ago.
This address was an early adopter of PEPE, buying into the token long before it gained its current popularity. The initial investment of $45,000 transformed into a staggering $26.7 million, marking an impressive 58,600% return on investment. This large Pepe holder now holds 1.99 trillion PEPE worth $21.9 million.

PEPE, Dogwifhat See Major Losses as Crypto Market Dives: Details

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