The cryptocurrency market, which is considered one of the riskiest markets, witnessed another whale give up today, according to onchain data.

According to data provided by Lookonchain, a major crypto whale sold 500 billion PEPE tokens worth $5 million at a loss just minutes ago.

The whale in question had accumulated 750 billion PEPE tokens worth $8.34 billion via Kraken at very high prices. With the latest transfer, the whale now has 250 billion PEPE worth $2 million in its wallet.

The latest data shows that this crypto whale lost a total of $2.3 million on the PEPE altcoin.

PEPE was once one of the most talked about altcoins in the memecoin world. On the other hand, the sale of the development team after the major crisis it experienced within itself caused the interest in the token to slowly decrease. However, PEPE is still the 24th largest altcoin in the world and also stands out as the third largest memecoin. It is trading at a region 53% lower than its all-time high price level.

*This is not investment advice.