The Recovery of Pepe Coin Price is Threatened by Massive Sales from Whales, How Could This Happen?
The recovery of the price of Pepe Coin is currently stalled at an important resistance level, where buyers (bulls) need to push the price to break through to confirm the potential for further increases.
This stalling movement is likely due to the price of Ethereum also struggling to break through the resistance level at $2,000. If the price of Pepe fails to overcome this limit, coupled with ongoing selling pressure from large investors (whales), then it is highly likely that the price will plummet and retest its lowest point for this year.
The Price of Pepe Coin is Threatened to Drop Due to Selling Action from Whales
The price of Pepe Coin is currently facing massive selling pressure from large holders, known as whales.
Data from Santiment shows that the number of Pepe tokens held by these large investors has now reached 148.7 trillion—down about 41 trillion from its peak in February this year, when they controlled 165 trillion tokens.
