PEPE Whales Selling at Huge Losses as Meme Coins Continue Bleeding

PEPE coin whales have seen better days as the cryptocurrency loses another 9% in the past 24 hours. Some of the larger investors are calling it quits and are selling at a considerable loss.

  • Data from the popular on-chain analytics resource lookonchain revealed that at least two whales are realizing considerable losses.
  • One of them is an address ending at 0x4614, which sold a total of 375.8 billion PEPE at a loss of $142,000 (worth some 76 ETH) today.
  • Another whale sold around 257 billion PEPE (worth $306K) at a loss of about $35,000.
  • The broader market for meme coins continues bleeding out.
  • Data from CoinMarketCap shows that almost all of the larger meme coins are trading at considerable losses.
  • For the past seven days, DOGE is down 2.5%, SHIB – 4.2%, PEPE – 20%, FLOKI – 7.83%, BONE – 13.3%, ELON – 4.2%, and so forth.

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