1000PEPE has recently plummeted, mainly because some large whales are selling off. For example, on May 10, a whale sold 1 trillion PEPE, making a profit of 3.53 million USD. On May 9, another whale that had hoarded 2 trillion PEPE also began to take profits, transferring 500 billion PEPE to Binance, with an unrealized profit of 7.66 million USD. This large-scale sell-off suddenly increased the supply of PEPE in the market, driving the price down.
Additionally, market sentiment is also changing. Previously, PEPE surged, and many people followed the trend to buy in, but now some investors are starting to take profits, leading to an outflow of funds from the market, which in turn caused the price to drop. Overall, the sell-off by whales and the shift in market sentiment are the main reasons for this plunge.
Therefore, Ming chose to enter the market at this moment, successfully securing profits!
