Pepe Coin (Pepe), one of the popular breast coin projects, is under harsh pressure under the influence of volatility in the general crypto money market. This pressure deepened with a large sale of a large whale. According to On-Chain data, an institution transferred 175 billion Pepe Token to Binance and made a major sales. Due to the existing turmoil in the market, Pepe has lost 35 %in the last week and the possibility of more losses on the agenda is on the agenda.
Giant sales of 175 billion token gives an alarm for breast coin
According to LOGOONCHAIN data, as of February 8, Nanscent has sold a total of 175 billion Pepe Token to Binance and made a transaction of $ 1.5 million. This sales has been the last major liquidation of Nanscent on Pepe Coin and has evacuated all its assets. Nanscent had previously sold its 608.85 billion Pepe Token for $ 7.73 million between 6 June and 15 July 2024. Then, on November 13, 2024, the rise in Pepe Coin’s price began to sell again. However, the institution, which missed the ideal sales point due to the volatil nature of Pepe, was able to make a total profit of only $ 348,000. This large output makes investors cautiously, while downward pressure on the price continues to occur with the decrease in market interest on Pepe.
Macroeconomic developments affect the market
In addition to the general fluctuations in the crypto currency market, macroeconomic factors also increase the risks on Pepe. Former US President Donald Trump’s announcement of new customs tariffs against Canada, Mexico and China led to great uncertainty in the market. Although Trump suspends these tariffs for 30 days for Trump, Canada and Mexico, the market is not yet recovered. In this uncertainty environment, some investors think that the market will tend to decline for the next few months. Pepe price is also affected by this situation and watching volatility. Moreover, large -scale token sales also raise additional pressure by shaking market confidence.
Will Pepe price be able to withstand pressures?
Such large sales often create a negative atmosphere in the market and lead to a decrease in investor’s trust. According to analysts, due to increasing supply pressure, Pepe price may continue to decline. During the writing, Pepe Coin’s price decreased by 1.5 %, trading at $ 0.000009046. The 24 -hour price range varies between 0.000008482 and 0.000009809 dollars, while a 35 %collapse on a weekly basis is observed. According to Coings data, Pepe’s futures open positions (OI) decreased by 2.5 %to $ 246,59 million. This shows that investor interest is reduced. In addition, a total of $ 3.72 million pepes have been liquidated in the last 24 hours.
