Justin Sun's unrealized gains on his PEPE holdings have narrowed to $5.048 million following a two-day market downturn, down from a peak of $18.55 million, according to on-chain analyst Ai Yi. Since October 17, Sun has withdrawn 11.8 trillion PEPE tokens worth $48.76 million from exchanges at an average cost of $0.000004114 per token. The memecoin surged as much as 38% after his accumulation phase ended on November 11 before recent corrections reduced his paper profits.