#1 Pepe (PEPE)
As a highly speculative and volatile meme coin, Pepe (PEPE) has witnessed huge short-term gains, but also rapid declines, influenced by social media hype, and recently, it saw one whale moving a massive 400 billion tokens worth $4.22 million to crypto exchange Binance, which might lead to rising selling pressure.
After breaching the major support level of $0.00001075, Pepe was at press time trading at $0.000009975, recording a decline of 5.29% in the last 24 hours, as well as losing 15.80% across the previous seven days, and accumulating a loss of 12.61% on its monthly chart.
#2 Wormhole (W)
Meanwhile, the cross-chain interoperability protocol Wormhole (W) is about to unlock a whopping 612.12 million of the token, worth around $145 million, which could lead to increased selling pressure as investors receiving them might decide to cash out, affecting its price at least in the short term.
For the moment, Wormhole is trading at $0.2357, which reflects a 3.99% drop on the day, a decline of 18.03% in the past week, and a more significant loss of 34.93% across the month — a trend that could continue as market participants anticipate further downward pressure from the token unlock.
#3 Immutable (IMX)
Finally, another blockchain platform about to witness a major token emission is Immutable (IMX), scheduled to release 32.47 million of the token worth around $43 million. Moreover, it is shutting down its IMX Marketplace on August 13, which could lead to short-term disruptions as users migrate their activities.
Currently, the price of the IMX token stands at $1.33, suggesting a 2.96% drop on its 24-hour chart, aside from accumulating a loss of 11.54% across the past week and recording a decline of 13.12% over the last month, according to the most recent price data retrieved on August 2.