PEPE Whales Making Major Moves
Recent on-chain data reveals that PEPE whales have been highly active on the network in the last 24 hours. These large transactions could have significant implications on the price action of the memecoin. Letโs delve into the details of these whale activities and how they may impact the market.
Large PEPE Transactions Detected
- Based on information from Whale Alert, two substantial PEPE transactions took place within a short time frame recently.
- These transactions, typically associated with whales, involve significant amounts of the cryptocurrency.
First PEPE Whale Transfer
- The sending address in the initial PEPE whale transaction was from an unidentified wallet, suggesting it belonged to an individual investor.
- The receiving address, however, was linked to the Binance exchange, indicating a transfer of over $10.5 million worth of PEPE tokens.
Exchange Inflows and Outflows
- Exchange inflows like this one can signal investorsโ intention to sell their assets, potentially leading to a bearish impact on the price.
- Conversely, exchange outflows involve moving tokens from exchanges to personal wallets, indicating a long-term holding strategy.
Second PEPE Whale Transaction
- In a subsequent transaction, a PEPE whale sent coins from Binance to an unknown wallet, possibly indicating a plan to hold these assets long term.
- The similarity in the amount transferred and the involvement of the same exchange in both transactions raise the speculation that the same whale may be behind both moves.
PEPE Price Analysis
Currently, PEPE is trading around $0.000008445479, displaying a more than 21% increase in value over the past week. This price surge coincides with the recent whale activities on the network.
Hot Take: Keep Your Eyes on PEPE Whales
On-chain data shows PEPE whales have moved large amounts of the memecoin during the past day. Hereโs where these tokens have been heading.
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