Pepe memecoin experiences significant decline in investor confidence and price

One sentence summary – Investor confidence in the memecoin Pepe has declined, leading to major sell-offs and a significant decrease in price, with factors such as large deposits onto exchanges, a significant sell-off by an early investor, and a redistribution of the coin among stakeholders contributing to the decline.

At a glance

  • The memecoin Pepe has experienced a significant drop in investor confidence, leading to major sell-offs and a substantial decrease in price.
  • A tweet revealed that the Pepe Multisig wallet and Wintermute Trading deposited a staggering 17.3 trillion PEPE, valued at $18 million, onto various exchanges, adding to the sell-off pressure.
  • An early investor exchanged a large amount of Pepe for Ethereum on a decentralized exchange, further increasing distrust among investors and selling pressure on Pepe.
  • The price of Pepe has seen a significant decline, dropping by approximately 16% in just one day.
  • The coin’s exchange inflow spiked while its supply outside of exchanges plummeted, suggesting a movement of Pepe from holders to exchange platforms.

The details

The memecoin Pepe has seen a significant drop in investor confidence in recent days, leading to major sell-offs and a substantial decrease in price.

This decline in confidence has resulted in notable sell-offs of the memecoin.

These sell-offs have had a significant impact on the price of Pepe, causing it to drop considerably.

A tweet from Lookonchain revealed that the Pepe Multisig wallet and Wintermute Trading deposited a staggering 17.3 trillion PEPE, valued at $18 million, onto various exchanges.

This move has added to the sell-off pressure on the memecoin.

In addition, an early investor exchanged a large amount of Pepe for Ethereum on a decentralized exchange (DEX).

This significant sell-off has further increased the overall distrust among investors and added to the selling pressure on Pepe.

As a result of these sell-offs, the price of Pepe has seen a significant decline, dropping by approximately 16% in just one day.

At the time of writing, Pepe was trading at $0.0000008943 with a market capitalization of $350 million.

On August 25, the coin’s exchange inflow spiked while its supply outside of exchanges plummeted.

This shift in supply dynamics suggests a movement of Pepe from holders to exchange platforms.

The total number of Pepe holders and the supply held by top addresses also saw a substantial decline.

This indicates a redistribution of the coin among different stakeholders.

A notable whale made a significant purchase of 640 billion PEPE, spending 320 ETH on August 25.

This whale had previously made notable PEPE purchases with ETH on June 5 and May 6.

The memecoin’s price action has been predominantly bearish.

However, some investors may have capitalized on the situation by accumulating more Pepe.

Looking at the memecoin’s daily chart, the Relative Strength Index (RSI) entered the oversold zone, potentially increasing buying pressure.

Meanwhile, the Chaikin Money Flow (CMF) registered an uptick.

The Moving Average Convergence Divergence (MACD) displayed a bearish crossover, suggesting a potential continuation of the downtrend.

This brief provides a comprehensive summary of the available facts and information about the news story surrounding the decline in confidence, sell-offs, and price drop of the memecoin Pepe.

Article X-ray

Here are all the sources used to create this article:

A sad Pepe frog with a downward arrow next to it.

This section links each of the article’s facts back to its original source.

If you have any suspicions that false information is present in the article, you can use this section to investigate where it came from.

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– Confidence in the memecoin Pepe has declined sharply as major sell-offs have occurred in the last few days.
The sell-offs caused the price of Pepe to drop substantially.
– Lookonchain’s tweet revealed that the Pepe Multisig wallet and Wintermute Trading deposited 17.3 trillion PEPE worth $18 million to exchanges.
An early investor also dumped a substantial amount of Pepe in exchange for Ethereum on a DEX.
The sell-offs showed distrust among investors and put selling pressure on the memecoin.
The price of Pepe dropped by approximately 16% in one day.
At press time, Pepe was trading at $0.0000008943 with a market capitalization of $350 million.
The coin’s exchange inflow spiked on August 25, while its supply outside of exchange plummeted.
– The total amount of holders and the supply held by top addresses of Pepe also plunged.
A whale spent 320 ETH to buy 640 billion PEPE on August 25.
The whale had previously made significant purchases of PEPE with ETH on June 5 and May 6.
The memecoin’s price action was bearish, but some may have capitalized on the situation by accumulating more.
The memecoin’s daily chart showed that the RSI went into the oversold zone, potentially increasing buying pressure.
The CMF registered an uptick, but the MACD displayed a bearish crossover, suggesting a continued downtrend.

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