Pepe coin's recent price movement has been influenced by significant market activity from a large holder, or "whale," who deposited 150 billion PEPE tokens into Binance. This action, likely a stop-loss measure, suggests the whale is attempting to mitigate further losses as Pepe's value declines. The whale's decision to sell comes after previously withdrawing the same amount from Binance, indicating a shift in strategy due to the coin's recent price drop. Analysts note that such moves by large investors highlight the challenges of timing the market, especially in the volatile crypto space.
The broader cryptocurrency market has also been affected by macroeconomic factors, particularly the Federal Reserve's economic outlook, which has spooked investors. The Fed's indication of prolonged higher interest rates has led to a sell-off in riskier assets, including meme coins like Pepe. This environment has seen a reduction in smart money holdings of Pepe, with a notable decrease in the number of traders and the total balance of tokens held. The anticipation of the Fed's decision has added to the uncertainty, contributing to the bearish sentiment surrounding Pepe.
Pepe's price has seen a 4.33% increase today, reaching a high of $0.000018.