PEPE drops amid Arthur Hayes' $13M sell-off
PEPE drops amid Arthur Hayes' $13M sell-off
On Saturday, the price of PEPE declined to $0.000010, marking a 5-day loss of over 2%. The drop came in the wake of a major asset sale by Arthur Hayes, co-founder of BitMex and long-time Bitcoin advocate.
According to Lookonchain, Hayes offloaded crypto assets worth approximately $13 million, including:
2,373 ETH (~$8.32 million)
7.76 million ENA (~$4.62 million)
38.86 million PEPE (~$414,700)
The sell-off triggered a swift market response — PEPE dropped another 4% within 24 hours, as large-scale liquidations by high-profile investors often heighten concerns and fuel bearish sentiment.
Despite the decline, intraday price movement on Saturday suggested early signs of stabilization. After falling 21% over the previous five days, trading volumes began to taper off, potentially indicating that sellers are becoming less aggressive and the market may be seeking equilibrium.
Should PEPE manage to hold the $0.000010 support level through the weekend, a short-term rebound toward the $0.000012–0.000013 range is possible — an area that aligns with the 20-day EMA and the midline of the Bollinger Bands. A break above this zone could open the door to a retest of $0.00001450.
Conversely, renewed selling pressure from Hayes or other large holders could push the price below support, potentially driving PEPE down to the $0.000009 or even $0.000008 levels.
