en
Back to the list

Pepe price tumbles 16% amid Binance regulatory saga

source-logo  crypto.news 06 June 2023 06:43, UTC

Meme coin pepe sees tremendous losses in price valuation ahead of the ongoing wrangle between Binance and the SEC that has provoked FUD and investor panic.

Pepe has seen a 16% drop in price valuation within 24 hours, trading at $0.000001. The meme coin’s market cap stood at $396.3 million. Trading volume stood at $190.8 million during press time.

PEPE price drop | Source: CoinMarketCap
You might also like: Binance sees net outflows of $69 million in one hour

Large pepe holders selling for losses

Recent sales of large sums of pepe meme currency by major holders have resulted in losses for such investors.

Notably, a single 0x4614 ethereum address lost 76 ether (about $142,000) after selling 375,8 billion Pepe tokens for $439,690.

Whales/SmartMoneys are selling $PEPE.

A whale deposited 649B $PEPE($761K) 1 hr ago.

0x4614 who made 1,182 $ETH($2.2M) on $PEPE sold 375.8B $PEPE($306K) at a loss of 76 $ETH($142K) 1 hr ago.

0x6544 who made $352K on $PEPE sold 257.9B $PEPE($306K) at a loss of $35K 4 hrs ago. pic.twitter.com/w8crgva6S0

— Lookonchain (@lookonchain) June 5, 2023

The 0x6544 Ethereum address lost $35,000 after selling 257.9 billion coins valued $306,000. These massive trades reflect the losses these prominent pepe token holders have sustained.

More than 649 billion pepe tokens, worth over $760,000, were deposited by a whale on Binance.

Read more: Bitcoin drops to 3-month lows amid Binance drama
crypto.news