According to information from various blockchain tracking platforms recently, the developers of the PEPE coin project are selling their altcoins. Allegedly, 16 trillion tokens transferred to a central exchange wallet were disposed of on the OKX exchange.
Altcoin analyst Jason Cline revealed the transactions with his share on the X account. According to the phenomenon, approximately 8.5 trillion of the 16 trillion PEPE tokens in total were sold on the OKX exchange. After this event, the cryptocurrency lost significant value.
Expect extreme volatility on $PEPE as the $16m the devs sent to themselves from the multisig is likely sold off. pic.twitter.com/bV9Pb79B8C
— Jason Cline 🚀 (@Jclineshow) August 24, 2023
According to the analyst, PEPE pairs have been having volatile hours in the last 24 hours. The trading volume of the token on exchanges exceeded $219 million. In this environment, the first investors of the project went on sale. An investor holding $1.88 trillion PEPE has disposed of their tokens for a total of 1,010 ETH (approximately $1.68 million).
PEPE Price
The joke-themed cryptocurrency has officially bottomed out after the allegations. After listing on the Binance exchange, the mem token, which fell to the level of $ .82, saw the figure of $ .79 in the morning.
PEPE coin chart.The trending altcoin of recent months has lost more than 20% since the beginning of the week.
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