- During the last day, Pepe decreased by 6.5% while the lowering feelings settled.
- A Pepe whale sold 150 billion tokens worth 1.14 million dollars.
During the last day, Pepe (PEPE) was the last victim of strengthening negative feelings on cryptographic markets. The current conditions have seen the whales turn to sale.
According to Lookonchain, a Pepe whale made a massive deposit to exchange.
According to the report, this whale sold 150 billion PEPE tokens worth 1.14 million dollars. The whale had spent only $ 2,184 to buy 1.5 billion of tokens at $ 43 million at the start.
Until now, the whale has sold 1.02 billion of tokens worth $ 6.6 million.
Source: intotheblock
In addition to these transactions, the whales sold more than 2.95 billions of PEPE token in the last day, according to Intotheblock.
Although it is a drop of 4 billions, the sale of activities of large holders has remained significantly high.
When the whales turn to the sale of an asset, it shows a lack of confidence in the market, reflecting a sharp decline. This transaction can further alleviate the negative perception of the same.
Impact on price graphics
As expected, such a sales activity for sale has had a negative impact on the same price graphics. In fact, to date, PEPE was negotiated at $ 0.00,000,719. This marked a 6.5% drop in daily graphics.
Likewise, the same fell on weekly and monthly graphics, lowering 1.2% and 3.87% respectively.
The continuous decline has left long -term holders to a loss. As such, a merchant who has gone to Pepe for a long time with a 10x lever effect is now down more than $ 3.36 million, according to Lookonchain.
Will the same see more losses?
Source: tradingView
According to Ambcrypto’s analysis, Pepe has experienced solid lowering feelings while the sellers dominated the market.
This was obvious by the RSI, which made a lower crossover in the last day. A lowering crossover suggests that there are aggressive sales to all market players, thus moving the buyers.
Source: Coringlass
This pressure on the sales side is also highlighted by a Netflow positive spot. According to Coinglass Data, Netflow of Pepe has become positive, reaching $ 1.87 million for the first time in four days.
This change implies that there are more exchange entries than outings, reflecting strong downward feelings.
In conclusion, Pepe experiences solid downstream feelings while investors firmly their positions. Therefore, with the whales and retailers who both sell, he reflects a lack of confidence among all the market players.
When these two combine, the same is likely to see more losses on its price graphics. Thus, prolonged sales activity could see that the same is dropped below $ 0.00,00070 to $ 0.00,00069.
However, a reversal here, with buyers who will return to the market, will see the same recover $ 0.00,00073.
