Odaily Planet Daily News Nansen Research Analyst Xin Yi said that the market value of the Meme token PEPE soared to $582 million on Tuesday, and then fell sharply to $397 million on Wednesday. The whales sold at high prices, causing the market value of PEPE to shrink by nearly $200 million. The analyst explained that there were many large holders who entered early, and the token price has risen a lot since then, so when they take profits, the price and market value tend to fluctuate greatly because people tend to pay attention to the movements of these whales. Moreover, the liquidity of PEPE is quite weak. A "whale" sold $2.2 million in PEPE, but only received $650,000 worth of ETH "due to a lot of slippage." In addition, several other whales have also sold more than $1 million in PEPE in the past 24 hours. (The Block)