Pepe Coins Price Could Face Decline as Whale Dumps 150 Billion Tokens
On March 29, 2024, Lookonchain, a blockchain-based on-chain analytics firm, posted on X (formerly Twitter) that a crypto whale, an early investor in PEPE, has sold billions of tokens, which could further drive the price down.
Lookonchain reported that the whale sold 150 billion PEPE tokens, worth $1.14 million, on Binance, amid the ongoing market downturn. This sell-off is part of a larger trend, as the whale has now offloaded 1.02 trillion PEPE tokens for a total of $6.66 million, making a remarkable $10.3 million profit, which represents a 4,718x return on the initial investment.
A $PEPE OG sold 150B $PEPE($1.14M) again 5 hours ago.
This OG spent only $2,184 to buy 1.5T $PEPE($43M at the peak) in the early stage.
He sold 1.02T $PEPE for $6.66M, leaving 493B $PEPE($3.64M), with a total profit of $10.3M(4,718x).https://t.co/tyzLr10sGj pic.twitter.com/FD6fFpyqCi
Lookonchain (@lookonchain) March 29, 2025
The OG investor had spent only $2,184 to purchase 1.5 trillion PEPE tokens during the early stages of the meme coins launch. However, with the market sentiment remaining negative, this whale has begun to liquidate its vast holdings, signaling potential further downside for PEPE.
Price Outlook
Expert technical analysis indicates that PEPE is showing a bearish trend after experiencing a significant price drop. The four-hour chart reveals that PEPE was previously moving within an ascending channel pattern but has now breached the lower boundary, closing a daily candle below that critical level.
If PEPE continues to stay below the $0.0000075 level, experts predict that the coin could experience a 20% decline, potentially dropping to the $0.0000058 level in the near future.
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