Large holders of the Pepe (PEPE) memecoin have been selling off significant amounts, diverging from market optimism, while PawFury (PAW) garners attention with a successful presale and promising future outlook. Analysts foresee potential growth for PawFury but caution on the need for research and awareness of crypto investment risks.
Significant Sell-Off of PEPE Token by Large Holders
In the past 30 days, large holders of the Pepe (PEPE) memecoin have sold significant portions of their holdings, according to on-chain data. This sell-off has been particularly notable among addresses holding tokens worth between $100,000 and $10 million, which have decreased by double digits. This trend contrasts with the generally bullish sentiment surrounding the upcoming launch of the Spot Ethereum (ETH) ETF.
Despite PEPE being a leading memecoin on the Ethereum blockchain, the actions of its major holders have diverged from the broader market’s optimism. As of the latest reports, the value of PEPE stands at $0.0000087, marking a 49.27% drop from its all-time high on May 27.
The Market Value to Realized Value (MVRV) ratio for PEPE indicates a -10.90% for the past 30 days, suggesting poor demand dynamics. This ratio, which measures market sentiment and profitability, typically implies that holders have minimal incentive to sell when it is negative, potentially labeling the token as undervalued.
Analyst Donny Dicey and other market observers suggest that post the Ethereum ETF launch, PEPE might experience a price hike if buying pressure increases. However, sustaining such a hike could be challenging without continued market interest.
On the other hand, PawFury (PAW) has managed to capture significant attention with its successful presale raising $4.2 million and the current presale price at $0.01041. Analysts predict that PawFury could reach $1 by the end of 2024, offering a potential 50x return. PawFury’s blend of innovation and community engagement makes it a standout choice for investors looking to diversify and capitalize on new opportunities in the crypto market. The excitement is further fueled by the upcoming listings on major exchanges. Once PawFury gets listed, the token will become more accessible to the broader masses, leading to a potential price increase.
To celebrate PawFury’s success, for a limited time, you can use the promo code TOKENBONUS10X to get a 10% extra bonus. While PawFury seems promising, it is important to do your own research and understand the risks involved in cryptocurrency investments.
