Pepe Coins Loss of Prominence: What Factors are Repelling the Whales?

Pepe Coins Loss of Prominence: What Factors are Repelling the Whales?

PEPE Meme Coin Coin Faces Uncertainty Amidst Whale Activity

Concerns have arisen in the cryptocurrency community regarding future of the our  trending Meme Coin coin PEPE due to whole lot of whale activity. Large holders of PEPE tokens have been selling their holdings at a loss, leading to increased market uncertainty.

According to a recent report, social activity surrounding PEPE has seen a notable downturn, with social engagements sliding by 28% and social mentions decreasing by 18%. This indicates that PEPE’s price movements are strongly influenced by its presence in the social sector.

Questionable Transfers Raise Concerns

Lookonchain, a blockchain analysis platform, uncovered a puzzling development where 3 wallets transferred 1.5 trillion PEPE tokens to Binance. These wallets sold their tokens at a lower price than when they at the beginning acquired them, resulting in a collective loss of $242,000.

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This mass transfer followed a previous 16 trillion PEPE transaction on August 24, further adding to the uncertainty surrounding the Meme Coin coin’s future.

Alleged Theft and Community Impact

The group behind PEPE has announced a statement accusing ” 3 ex-team members” of accessing the project’s wallet without consent and absconding with 16 trillion PEPE tokens. This revelation has caused shockwaves in the community and increased uncertainty surrounding the Meme Coin coin.

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Regardless of the recent decline in social activity, the weighted sentiment around PEPE has continued to grow, suggesting resilience within the community. Nonetheless, future of the PEPE remains uncertain, and investors are closely monitoring the situation for further developments and the resolution of the alleged theft.

Hot Take: PEPE’s Future Hangs in the Balance

PEPE is as of now currently worth $0.000000801962 with a modest 0.5% gain in the previous day. Nonetheless, it has experienced a 6.5% decline in value in the previous 7 days. The cryptocurrency community eagerly awaits clarity and stability to return to the PEPE ecological system. The resolution of the alleged theft involving the 16 trillion PEPE tokens will be a critical factor in determining the Meme Coin coin’s future.

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