Pepe whale sells 196B tokens—Is the memecoin in trouble?

PEPE whale swapped their holdings for WETH then into PENDLE.PEPE’s setup signaled a big move off the lows was yet to come, as it needed to reclaim the 50 level on the RSI for a confirmation.Pepe [PEPE] whale wallet ‘0x373…’ changed from investing in memecoins to investing in DeFi fundamental. This whale offloaded 196.1 billion PEPE tokens worth $1.3 million at an average price of $0.000006641.The whale exchanged PEPE for 720.6 WETH and used the entire amount to purchase 397,192 PENDLE tokens at $3.08 each. Over three days, the whale sold 261.2 billion PEPE for 1,060 WETH, averaging $0.000006909 per token.The 1,060 WETH, valued at $1.86 million, was then utilized to acquire 607,863 PENDLE tokens at an average price of $3.066. This sparked concerns about a potential PEPE crash, as the whale’s activity showed no signs of slowing down.Despite reducing their holdings, the whale retained 2.597 trillion PEPE worth $17.53 million, with unrealized earnings of $28.41 million—a remarkable 5.25x r...