Memecoin’s PEPE developer has sold around 16 trillion tokens.
The value of the transactions is approximately USD 15.6 million. At the time of writing, Pepe is trading at $0.0000008979.
PEPE’s trading volume increased by 285.27%.
The frog-themed memecoin Pepe (PEPE) has experienced a massive slump, resulting in a roughly 20% drop in the last 24 hours.
In addition, the developer of Pepe memecoin transferred more than 16 trillion PEPE tokens with a value of $ 15.6 million.
On August 25, a crypto influencer tweeted that memecoin’s PEPE developer sold around 16 trillion tokens. The value of the transactions is approximately USD 15.6 million.
However, the account still has 2.5% of the total supply. Thus, the crypto community is paying attention to the wallet and its effect on the price of memecoin.
Pepe is experiencing a severe decline.
After that, crypto event analyzer Lookonchain reported some notable events for memecoin Pepe.
A few hours ago, the early memecoin buyer Pepe sold 1.88 trillion tokens on the Decentralized Exchange (DEX) for 1010 Ethereum (ETH), worth $1.68 million. Since then, the multi-brand wallet of Pepe and Wintermute Trading has deposited about $18 million of more than $17.3 million into crypto exchanges.
After Pepe’s team deposited, another early buyer of Pepe also sold 932 billion Pepe for 524 Ethereum, worth about $870,000. Memecoin Pepe trading started to reflect its price.
On the other hand, memecoin’s trading volumes have grown tremendously after continuous transactions.
At the time of writing, Pepe is trading at $0.0000008979, down 16.77% in the last 24 hours.
However, according to CoinMarketCap, PEPE’s daily trading volume increased by 285.27 percent. Additionally, memecoin became the second trending cryptocurrency on CoinMarketCap’s list.