According to recent data from etherscan, a crypto investor exchanged 0.125 Ethereum ( ETH ), worth $250, for 5.9 billion PEPE tokens four days ago. But surprisingly, the investor currently has $1.02 million worth of PEPE tokens.
Investors may need help to make such a significant profit within four days due to the liquidity crisis in the PEPE network. Upon closer examination, it becomes apparent that although the investor of this memecoin currently holds $1.02 million worth of PEPE tokens, there is a disparity between the appraised value of assets and actual cash holdings.
The put option will crash the price action of tokens like PEPE
According to Grzegorz Drozdz, a market analyst at Conotoxia LTD, he says that these assets would take more than 46,200 years to liquidate, assuming constant demand. Exiting the trade prematurely could cause the price to drop below the entry point. To illustrate this problem, Drozdz used the analogy of “billionaires trying to monetize their wealth.” He claimed that “an effort to sell wealth could cause a collapse in its share price.”
During the last 24 hours, PEPE’s market value has risen a remarkable 79%. As a result, the meme coin with a frog design is now trading at $0.0000002989. Based on the analysis, it is determined that the memecoin has established support and resistance levels at $0.0000001369 and $0.0000003678, respectively.
The current trend of the PEPE token is very bullish and is expected to continue for the next few hours. This projection is mainly due to a significant increase in its trading volume increased by 163.06% to reach $155,799,833.
