Crypto whales sold MOG, PEPE, and TURBO throughout early February, following a broader trend of large holders reducing their exposure to meme coins. While MOG has seen the most aggressive selling, PEPE and TURBO have also experienced a steady decline in whale addresses, signaling weaker confidence among major investors.
Although the number of large holders has slightly recovered, the overall trend remains bearish, with distribution outweighing accumulation. If this pattern continues, these tokens could face additional selling pressure, making it harder for them to regain strong bullish momentum.
MOG Coin (MOG)
Whales sold the MOG meme coin consistently for several months, with this selling pressure accelerating at the start of February. Large holders reducing their positions can signal a shift in sentiment, as whale activity often impacts price action and liquidity.
When whales sell in large quantities, they increase the supply in the market, potentially making it harder for MOG to sustain upward momentum.
The ongoing decline in whale addresses suggests that confidence among major investors has weakened, raising concerns about continued selling pressure.
Number of Addresses Holding at Least 100,000,000 MOG. Source: Santiment.
Although the number of whales holding at least 100,000,000 MOG recently recovered – rising from 10,089 on February 6 to 10,127 – this number remains historically low.
It is still well below the 10,457 recorded on January 30, meaning that despite the slight rebound, whales sold a significant amount of MOG over the past few weeks.
This suggests that the broader trend remains one of distribution rather than accumulation. Unless whale activity shifts toward sustained buying, MOG may continue facing challenges in building strong bullish momentum.
PEPE
Like MOG, whales sold PEPE throughout early February, though the selling pressure has been less intense. While large holders reducing their positions can indicate weakening confidence, PEPE whales have not offloaded their holdings at the same pace as MOG whales.
Still, when whales sell, it increases supply in the market, potentially limiting upward price movement. The decline in whale addresses suggests that some large investors have been taking profits or reducing exposure, which could contribute to short-term volatility.
Number of Addresses Holding at Least 100,000,000 PEPE. Source: Santiment.
On January 30, the number of addresses holding at least 100,000,000 PEPE stood at 54,383 before declining as February began, reaching 53,927 on February 8—its lowest level since March 2024. Although there has been a slight recovery to 53,954, the overall trend remains downward, meaning whales sold a notable amount of PEPE in recent weeks.
While this selling pressure is not as aggressive as MOG’s, it still indicates hesitation among large investors. If whale selling continues, it could put further pressure on PEPE price, making it harder for the token to sustain bullish momentum.
TURBO
Crypto whales also sold TURBO in the first days of February, following the same pattern seen in other meme coins like MOG and PEPE. On January 30, the number of addresses holding between 100,000 and 10,000,000 TURBO was at 13,706, but as February began, that number declined to 13,404.
Number of Addresses Holding Between 100,000 and 10,000,000 TURBO. Source: Santiment.
It has since dropped further to 13,370, indicating that large holders continue to reduce their positions.
The ongoing decline in whale addresses points to continued distribution rather than accumulation, which could lead to increased volatility for TURBO. While the drop has been steady rather than aggressive, the fact that whales sold over the past few weeks signals hesitation in the market.
