A recent report from Whale alert reveals that 1,158,893,534,074 PEPE tokens, equivalent to approximately $12.34 million, were transferred from an undisclosed wallet to Binance, the world’s largest cryptocurrency exchange.
A recent report from Whale alert reveals that 1,158,893,534,074 PEPE tokens, equivalent to approximately $12.34 million, were transferred from an undisclosed wallet to Binance, the world’s largest cryptocurrency exchange.
Alex DovbnyaWhat is known about the sender address? Initially labeled as unknown, the sender address “0x835” has since been identified as belonging to Binance itself. This transfer of the meme coin, valued at over $12.3 million, was simply an internal movement between Binance cold wallets.
The remaining balance of 6.78 trillion PEPE tokens, worth approximately $71.73 million, remains at the sender address, while the destination address now contains 20.257 trillion PEPE tokens, equivalent to 211.48 millions of dollars.
Tomiwabold OlajideAlthough the transfer was an internal administrative action, it attracted a lot of attention from PEPE. Traditionally, these moves into stocks are viewed negatively by market participants, often interpreted as a bearish signal.
However, in this case, the transfer was made between Binance’s own wallets, not a third-party whale investor.
The impact of this transfer on PEPE’s market performance is still unclear, but the popular meme cryptocurrency has already seen a drop of more than 16% since the start of the week.
