A significant sale of PEPE coin by a large whale has sparked concerns about potential future selling pressure in the market. This transaction has created uncertainty among PEPE investors, while also raising worries about an increase in selling pressure within the Bitcoin (BTC) 
$92,054 market.
PEPE Coin Whale Transactions
According to Lookonchain, a PEPE coin whale has listed 85 billion PEPE coins for sale. This sale resulted in a total loss of 1.74 million dollars, in addition to the 3.2 million dollars lost from the remaining 180.8 billion PEPE coins in the whale’s portfolio.
Currently, the price of PEPE Coin is trading at 0.00001766 dollars. It has lost 3.10% in the last 24 hours and 13.87% over the past week. There has also been a 4.52% decline in open positions, with the drop in price accelerating after breaking the support level of 0.00002062 dollars, leading to a free fall since then.
Concerns Regarding Bitcoin (BTC)
Speculation about the potential sale of approximately 6.7 billion dollars worth of confiscated Bitcoins by the U.S. government has raised concerns about further declines in BTC prices. El Salvador’s President Nayib Bukele and investor Robert Kiyosaki noted that a decrease in BTC prices could represent an opportunity for investors due to future growth potential.
“The drop in BTC prices offers an opportunity to enter the cryptocurrency market at discounted prices.” – Nayib Bukele
President Nayib Bukele views the recent decline in BTC prices as a buying opportunity for the mainstream cryptocurrency’s future rise. However, this perspective has yet to create a generally positive atmosphere in the market.
The cryptocurrency market is expected to remain volatile until pro-crypto regulations emerge following the U.S. presidential elections. Incoming President Trump has already signaled potential steps in this direction by hosting significant figures from the cryptocurrency market and appointing crypto-friendly individuals. In light of these developments, PEPE Coin and other meme coins are forecasted to experience a strong recovery despite selling pressures.
Lastly, the massive sales witnessed in the PEPE Coin market are attracting the attention of other investors. Market experts suggest that the impact of large investor movements on market dynamics will persist, necessitating a reassessment of investment strategies by many.
The whale sales in the PEPE Coin market and developments concerning BTC carry significant signals for cryptocurrency investors. Such large transactions can play a critical role in understanding market trends and potential price movements.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
