Meme coins have seen better days. Some PEPE coin whales are calling it quits and are selling at considerable losses.
PEPE coin whales have seen better days as the cryptocurrency loses another 9% in the past 24 hours. Some of the larger investors are calling it quits and are selling at a considerable loss.
Data from the popular on-chain analytics resource Lookonchain revealed that at least two whales are realizing considerable losses.
One of them is an address ending at 0x4614, which sold a total of 375.8 billion PEPE at a loss of $142,000 (worth some 76 ETH) today.
Another whale sold around 257 billion PEPE (worth $306K) at a loss of about $35,000.
The broader market for meme coins continues bleeding out.
Data from CoinMarketCap shows that almost all of the larger meme coins are trading at considerable losses.
For the past seven days, DOGE is down 2.5%, SHIB – 4.2%, PEPE – 20%, FLOKI – 7.83%, BONE – 13.3%, ELON – 4.2%, and so forth.