As per studies, the speed of the brand new memecoin Pepe(PEPE) decreased by about 42% after it reached its highest degree on Might 6, 2023, said Cointelegraph. It’s anticipated that this sudden downfall led to the lack of a whole lot of hundreds of paper for no less than one investor.
With insights from Lookonchain, a blockchain analysis platform, on Might 5, 2023, a crypto “whale” purchased 962.3 billion Pepe tokens with 70 Wrapped Bitcoin (WBTC) and 470 Ether (ETH) for a value of about $0.000003122, added Cointelegraph.
It’s estimated the present value of PEPE’s holding is about $2.4 million, leading to a loss amounting to over $600,000, Cointelegraph highlighted.
As reported by Cointelegraph, after the institution of PEPE on April 14, 2023, round $636 million was traded throughout the final 24 hours. Moreover, on Might 5, 2023, greater than 5,000 ETH was burned associated to the gasoline charges by Uniswap buying and selling, Cointelegraph concluded.
(With insights from Cointelegraph)
