Pepe (PEPE) Falls 12% as FEELSGOOD Rewards Raise Selling Questions
PEPE remained up about 27% over seven days in a Sept. 24 snapshot, while reward data showed 223.91 billion PEPE distributed to FEELSGOOD holders.
Pepe (PEPE) fell 12% over 24 hours in a Sept. 24 market snapshot, while reward distributions tied to StonkFun’s FEELSGOOD token raised questions about potential selling after a sharp rally.
PEPE was still up about 27% over seven days in the Sept. 24 reading. An earlier Sept. 23 snapshot showed a roughly 45% seven-day gain, highlighting the different measurement dates behind the two figures.
FEELSGOOD is a StonkFun reward-mode token whose holders receive PEPE from trading fees. Because recipients may sell the rewards after receiving them, the distributions could add potential supply to the market.
A claimed $2.84 million in reward selling was not confirmed by the available rewards data. The available rewards dashboard showed 223.91 billion PEPE distributed to FEELSGOOD holders, valued at $983,800 in a Sept. 25 reading.
PEPE traded at $0.00000445 in that Sept. 25 market reading. Twenty-four-hour futures volume stood at $478.45 million, spot volume reached $121.93 million and open interest was $338.96 million.
The Sept. 23 snapshot placed PEPE near $0.00000492, with about $393 million in open interest and $912 million in 24-hour futures volume. The token’s recent seven-day high was near $0.00000534.
Reported technical levels put breakout support around $0.0000044 to $0.0000047. A move above $0.00000534 would indicate renewed momentum, while a move below the support range would weaken the recent breakout structure.
