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PEPE Sees Massive Selloff at ATH As MAGA Receives More Boost

Ethereum Memecoin attains a new all-time high, gaining 12% in the last 24 hours

A few hours ago, CryptocurrenciestoWatch pointed out that the Ethereum memecoin, PEPE, recently attained a new all-time high.

A few hours ago, it surged to $0.0000111, sealing the latest milestone. However, the latest ATH is barely 2% higher than the previous one. Nonetheless, the token significantly benefited from the recent whale activities during its build-up.

It recorded several large purchases from large bag holders within the last seven days. The most recent milestone is that many longtime holders have seen profits.

In anticipation of the recent event, a whale withdrew billions of Pepe from Binance last week. While the withdrawal seems suspicious, no further announcement suggests it was from a malicious actor.

The asset, which was worth $2.9 million at the time, will be worth almost $3.2 million at its all-time high.

The current price suggests that traders took profit following the recent ATH. On the 2-hour chart, the selloff started immediately after the new price was reached. This could also indicate several limit orders at the mark.

Gideon Geoffery