Pepe Coin Price At Risk As Massive Whale Dump Of 502B Tokens Ensues

Pepe Coin price continues to drop as whales and traders dump their holdings on the crypto exchanges. Notably, a PEPE whale sold 502.5 billion tokens to Binance, increasing challenges for traders awaiting a volume-driven breakout.

PEPE price fell nearly 12% on Friday as the monthly options expiry and US PCE inflation fears triggered a broader crypto market crash.

Pepe Coin Whale Sold Tokens Worth $6.47 Million

Onchain expert Lookonchain in an X post on May 30 revealed that a whale 0x3c9E deposited 502.5 billion Pepe Coin tokens worth $6.47 million to Binance. The whale has transferred 1.5 million PEPE tokens to the crypto exchange since May 9.

As per Arkham Intelligence data, the whale still holds 497.5 tokens worth $6.41 million. This PEPE whale has made a profit of $7.47 million within a month.

Donald Trump Sparks Buzz in Pepe Coin Community

As The Coin Republic reported on Thursday, U.S. President Donald Trump shared an image on his Truth Social showing Pepe the Frog character. It sparked a buzz in the Pepe Coin community and turned investors bullish, speculating about a rally in PEPE price.

Trump posted “He’s on a mission from God” message, with the cryptic meme. This caused Pepe Coin price to climb over 7%, and the 24-hour volume reached $1.64 billion. Notably, the sentiment on social media is bullish for PEPE, but market events caused a severe drop in prices.

Earlier, billionaire Elon Musk also shared Pepe the Frog in his posts on X and played an influential part in triggering a rally in PEPE price.

Is the Pepe Coin Price Rally Over?

Pepe Coin recorded an over 60% rally in May, hitting a monthly high of $0.0000163. However, the asset price has dropped amid uncertainty in the broader market.

As per the real-time market insights platform Alva, PEPE looks stuck at an inflection point, and whale actions are anchoring price direction. Large wallets and influencers were bullish, but the chart’s consolidation indicates that traders are still waiting for a volume-driven breakout.

PEPE price was down 11% over the last 24 hours and 18% in a week. At the time of writing, Pepe Coin price changed hands at $0.0000129. The 24-hour low and high were $0.00001264 and $0.00001451, respectively.

Furthermore, the trading volume has decreased by 1.18% in the last 24 hours, indicating a decline in interest among traders.

As per Coinglass data, total futures open interest was down just 1% to $665.53 million in the 24-hour period at the time of writing. PEPE futures OI were rebounding on OKX, Gate, and Kraken in the last 4 hours.

Broader Meme Coin Market in Correction

The broader meme coin market witnessed a correction on Friday. Bonk, Fartcoin, FLOKI, Dogecoin (DOGE), Shiba Inu (SHIB), and other meme coins saw over a 10% drop in prices today, which prompted small traders to keep away amid high volatility.

However, Pepe Coin, Fartcoin, and Dogecoin remained the most traded in the crypto market based on the trading volumes recorded over the past 24 hours.

The post Pepe Coin Price At Risk As Massive Whale Dump Of 502B Tokens Ensues appeared first on The Coin Republic.