The meme coin PEPE ($PEPE) has experienced a significant price drop after a major investor sold over 1 trillion tokens, sparking concerns about the cryptocurrency’s future. Blockchain analytics platform Lookonchain revealed that on March 29, 2024, a prominent crypto whale liquidated $1.14 million worth of PEPE tokens on Binance. This follows a series of significant sales totaling over $6.66 million by the same investor, resulting in a profit of nearly $10.3 million for this early adopter. This sell-off has amplified the current bearish sentiment within the crypto market as a result of wider weakness across the industry. PEPE’s price dropped by 4.59% to $0.00006976 in just 24 hours, according to CoinMarketCap, highlighting the significant impact of this whale sale on the token’s value. Notably, despite these losses, daily trading volume for PEPE increased by 3.90%, with a total of $421.28 million being exchanged throughout the day. Technical indicators suggest continued bearish momentum: the MACD line remains below the signal line, indicating negative price action. The RSI is at 24.55, showing it’s positioned in oversold territory. Though PEPE appears undervalued, no reversal signals have been confirmed. A clear picture of PEPE’s future will require time and analysis.