According to the on-chain analysis platform Lookonchain, several large holders have recently sold PEPE in bulk.
Specifically: A certain address deposited 430 billion PEPE (about $6.39 million) into CEX 9 hours ago; marketparticipant.eth deposited 325.5 billion PEPE (about $4.9 million) into CEX 24 hours ago; another address sold 2008.8 billion PEPE for 2.85 million USDC in the past 48 hours; additionally, another address deposited 1408.3 billion PEPE (about $1.98 million) into CEX two hours ago.