The PEPE coin market has undergone a sudden change: a new big player's huge withdrawal shocked the industry
The PEPE coin market has ushered in a shocking event - a new big player has withdrawn up to 250 billion PEPE coins at one time on the Binance exchange, which is equivalent to about 2.31 million US dollars. It is worth noting that the wallet of this big player was created recently, and his new identity in the market is in sharp contrast with this huge withdrawal. What is more remarkable is that the initial funds of this big player only come from a negligible 0.015 ETH and 0.05 BNB.
The trading price of PEPE coin is fixed at 0.00000782 US dollars, and it has suffered a 14.72% drop in the past 24 hours. Despite the overall sluggish performance of the market, the huge withdrawal of this big player has undoubtedly dropped a bombshell on the market, and the intention behind it is intriguing.
At a time when the market is sluggish, this big player may be waiting for the opportunity, looking forward to the surge in the price of PEPE coin. Given the historical volatility of PEPE, its price is expected to rebound strongly once the market environment improves or social media heats up again.
Is there a risk of selling pressure?
If this big player chooses to sell his PEPE coins in the future, it will bring unprecedented supply pressure to the market, which may lead to further price declines. This risk is particularly noteworthy in the context of low market sentiment.
Short-term outlook (cautious bearish): Under the impact of the recent price drop, PEPE coins may continue to be under pressure to fall in price in the short term. Traders need to pay close attention to further changes in the market environment to make wise decisions.
Medium-term outlook (optimistic bullish): However, in the long run, the actions of this big player may indicate that smart money is preparing for a potential rebound after the market stabilizes.
Once the overall cryptocurrency market rebounds, PEPE coins are expected to regain their upward momentum with the growth of community power. In this turbulent digital currency, what is the future of PEPE coins? Let us wait and see.
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