The cryptocurrency market is abuzz with news of a savvy investor cashing out a staggering 118 billion PEPE coins, worth $1.48 million, on the Kraken exchange. This move has sparked concerns among market participants, who are now wondering if the price of PEPE has reached its peak. The investor, who purchased the coins seven months ago for $0.13 million, has made an impressive 11-fold return on their investment.

The sale of such a large quantity of PEPE coins has raised eyebrows, with some speculating that it may be a bearish sign for the future price of the coin. According to EmberCN on X, the smart money address 0xC8Ab... offloaded the coins to Kraken, fueling concerns about the future price trajectory of PEPE. The transaction has also led to an increase in PEPE dumps to exchanges, adding to the uncertainty surrounding the coin's future.

Despite the turmoil, the price of PEPE has remained relatively stable, trading in both positive and negative territories over the past 24 hours. The coin's futures open interest has surged 3.76% to $141.02 million, indicating continued investor interest. However, the derivatives volume has dipped 35.85%, suggesting reduced market activity. The relative strength index (RSI) is currently at 53, indicating neutrality in the market.

The recent emergence of PEPU, Pepe Coin Unchained, has offered a glimmer of hope for PEPE's future. PEPU is a layer two scaling solution for PEPE, designed to improve the coin's scalability and usability. The launch of PEPU has sparked optimism among investors, who are now waiting to see how it will impact the price of PEPE.

In conclusion, the sale of 118 billion PEPE coins by a smart investor has sent shockwaves through the cryptocurrency market. While some are speculating that the price of PEPE may have reached its peak, others are optimistic about the coin's future prospects. With the launch of PEPU, the future of PEPE looks promising, and investors are eagerly waiting to see how the market will respond.