Smart money accounts – crypto traders known for profitable moves – have reduced their $PEPE holdings by $3 million in the past 24 hours as meme coin mania cools off, nansen_ai data shows. sndr_krisztian reports
Still, the number of tokens held by smart money wallets has been dropping fast, showing no signs that top performing traders are anticipating a bounce.
Smart money balance currently stands at 6.9 trillion PEPE, down from more than 13.5 trillion near the end of April, according to Nansen data. The number of smart money accounts holding PEPE has fallen to 111 from a peak of 135 on May 4. One example of an early investor appearing to ditch PEPE is pseudonymous crypto trader “vxv.eth.” The wallet has accumulated 1.3 trillion tokens since its initial purchase on April 17, Nansen data shows. Early Thursday, the account transferred its PEPE stash worth $2.1 million to crypto exchanges Gemini and UniSwap, completely exiting its position.
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