In recent hours, several major $PEPE token holders (whales), have sold off large portions of their holdings. Lookonchain data confirmed that numerous transactions comprising billions of $PEPE tokens took place recently.
Whale 0xfBfC…07Be Deposits $6.39M in $PEPE to Binance
Whale 0xfBfC…07Be made a transaction depositing 430 billion $PEPE tokens worth $6.39 million to Binance about few hours ago. Marketparticipant.eth moved 325.5 billion tokens of $PEPE representing $4.9 million to Binance during recent hours.
Whale participant 0xb1a2…6731 exchanged 200.88 billion $PEPE tokens for 2.85 million $USDC throughout the last two days. An extraordinary offload of $PEPE by main stakeholders demonstrates a growing trend in $PEPE exchange among principal owners.
On a previous occasion wallet 0xC7ac…BE36 deposited 140.83 billion $PEPE tokens worth $1.98 million onto the Binance platform.
Whale Moves Shake Confidence in $PEPE Market Stability
The current large-scale transfers of $PEPE show signs of changing market tendencies toward this cryptocurrency. Traders question $PEPE’s market potential due to whales moving massive amounts of this token from their wallets.
Binance activity levels indicate strong market liquidity for $PEPE continues to persist. During the short term these sell-off actions could result in increased downward pressure on the token’s price.
Investors maintain close observation of whales activities, reported by Lookonchain, since the market responds to these developments. The current pattern reveals significant market effects that enormous token holders exert on smaller-cap tokens such as $PEPE through their trading activity.
