$242,000 loss on PEPE token sale as price stalls
Given that the wallets sold at a lower price than when they received the tokens, a loss of $242,000 was recorded.
The three wallets reportedly withdrew the 1.5 trillion tokens from OKX's crypto exchange after the unexpected 16 trillion PEPE transactions on Aug. 24. The tokens were worth $1.45 million at the time.Pepe's reputation suffered a major blow near the end of August when three of its anonymous developers unexpectedly sold nearly $16 million worth of tokens.
Since the start of the week, the range has shrunk even further, indicating that buyers and sellers are unsure about the PEPE price. The Pepe team declared that the Pepe coin was"completely useless and for entertainment purposes only" when it was first created. Given that the token serves no purpose as a meme coin, the odds of a market recovery for the Pepe crypto asset remain unknown.
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