The cryptocurrency inspired by the same Pepe has lost almost 4% of its value in the last 24 hours in the middle of a wider market sale affecting most cryptocurrencies.
The former CEO of Bitmex, Arthur Hayes, sold its position of $ 414,000 in the same, citing the macroeconomic risk on the potential impact of American prices in the third quarter of the year. Hayes’ sale also included other Altcoin holdings while stabbed.
Hayes stressed weakening American economic conditions and a new pricing policy to take effect on August 7, which will apply withdrawals up to 41% on imports of more than 90 countries.
Policy has sent attacks via the cryptography market, affecting speculative assets like the same. The price of Pepe has gone from a maximum of 0.00001083 to a minimum of $ 0.0000,1002, with a total of 3.26 billions of tokens changing the hands during the slowdown, according to the Technical Analysis Data model of Coindesk Research.
This increase in volume suggests the capitulation of certain traders. The token finally settled near his lower session where he is currently negotiating.
The withdrawal follows a brief rally which had seen resistance to the Pepe test around the level of $ 0.00001080. But the sellers overwhelmed the buyers during the time of final negotiation, reversing the gains and pushing the token in a negative territory.
Despite a modest recovery in the last minutes of negotiation, in addition to a drop in volume which can indicate the fatigue of the seller, the feeling remains weak. Pepe is now down 32% compared to its summit in mid-July, reflecting a wider withdrawal in the meme parts sector.
The wider sector of the same, as measured by the Coindesk Memecoin Index (CDMEME) index, dropped by 22.4% over the same period.
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