PEPE drops 12% as $2.84M StonkFun reward selling pressures price
- —PEPE lost 12% in 24 hours while holding weekly gains of about 27%
- —FEELSGOOD holders sold $2.84 million in PEPE rewards via StonkFun
- —PEPE open interest fell from $400 million to $334 million
- —Trading volume declined from $1.32 billion to $727 million
Why it matters: Reward-driven selling is weighing on price, but cooling long liquidations suggest the correction may be nearing its end.
Source: AMBCrypto