Whales Dump 1.16 Trillion $PEPE as Pepe Unchained Raises $11 Million in Presale

cryptonews.com:

Pepe Unchained ($PEPU) has raised over $11 million in presale funds, and it appears its bid to become the top Pepe token in the meme coin sector is not stopping.

The capital amassed is projected to exceed $12 million next week, fueled by strong momentum and a likely decrease in interest from holders of its predecessor, Pepe ($PEPE), who dumped over a trillion $PEPE on Wednesday.

Pepe Unchained is set to be the superior alternative to $PEPE, promising lower transaction costs and faster speeds for Pepe ownership. Its new proprietary blockchain will also serve as the launchpad for future meme coins and other tokens, leveraging the same cost-efficient transactions as $PEPU.

Investors dissatisfied with the current quirks of owning a Pepe still have an opportunity to invest early at the discounted presale price of $PEPU at $0.00938510 per token.

However, this price is slated to increase to $0.00942260 in less than 48 hours as the project successfully wraps up another funding stage.

While meme coins have recently been underperforming, $PEPE, the third-largest meme coin, seems to be facing even tougher times.

On Wednesday, large wallet holders withdrew approximately 1.16 trillion $PEPE, worth $8.96 million, according to IntoTheBlock.

Adding to the concern, there was a significant influx of $PEPE into exchanges on Wednesday and Thursday, almost matching the value that whales had offloaded at $8.64 million, according to Coinglass data.

Although this volume is minor for a $3.2 billion market cap meme coin, it could still significantly impact its price, which already shows troubling signs of declining further. Over the past three months, $PEPE has fallen by 45.91%, marking a sharp decline for a token that once led the bullish meme coin