The Pepe meme coin rally continues despite a massive sell-off
-The Pepe meme coin experienced a massive sell-off last weekend, but the token continues to rise. Over the past 24 hours, its price increased by more than 5.4% to $0.00002804. The market capitalization of the meme coin exceeded $11.37 billion.
-According to IntoTheBlock, by Sunday, December 8, the net inflow of funds from large holders of Pepe decreased from 1.03 billion tokens (approximately $22.66 million) to a net outflow of 1.96 billion PEPE (more than $50.9 million).
Such a massive sell-off by large holders usually indicates periods of panic or profit taking. In either case, this leads to a decrease in the cryptocurrency's price. However, PEPE continues to grow. Over the week, the meme token has increased by more than 40%. Additionally, over the past day, open positions with the meme coin grew by 9% to a new high of $370.8 million. The search query for the word “PEPE” also trended on Google.
-Analysts predict further growth for the meme token. Several experts expect that in the short term, PEPE will increase by 19% to $0.000031.
$PEPE
-The Pepe meme coin experienced a massive sell-off last weekend, but the token continues to rise. Over the past 24 hours, its price increased by more than 5.4% to $0.00002804. The market capitalization of the meme coin exceeded $11.37 billion.
-According to IntoTheBlock, by Sunday, December 8, the net inflow of funds from large holders of Pepe decreased from 1.03 billion tokens (approximately $22.66 million) to a net outflow of 1.96 billion PEPE (more than $50.9 million).
Such a massive sell-off by large holders usually indicates periods of panic or profit taking. In either case, this leads to a decrease in the cryptocurrency's price. However, PEPE continues to grow. Over the week, the meme token has increased by more than 40%. Additionally, over the past day, open positions with the meme coin grew by 9% to a new high of $370.8 million. The search query for the word “PEPE” also trended on Google.
-Analysts predict further growth for the meme token. Several experts expect that in the short term, PEPE will increase by 19% to $0.000031.
$PEPE
