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According to blockchain tracker Whale Alert, a staggering transfer of 1,793,905,267,193 PEPE, valued at over $26.6 million, was spotted moving from major cryptocurrency exchange Binance to an unknown wallet.
Whale Alert reported in recent hours: "1,793,905,267,193 PEPE (26,603,674 USD) transferred from Binance to unknown wallet."
This massive transaction has attracted interest in the crypto community, but that was not the end.
Some minutes after the initial transaction, Whale Alert flagged a second massive move: 1,773,879,402,091 PEPE, worth nearly $26.64 million, were transferred from an unknown wallet to Ceffu, a custody and asset management platform affiliated with Binance.
In a subsequent transaction, Whale Alert reported "1,773,879,402,091 PEPE (26,644,319 USD) transferred from unknown wallet to Ceffu."
The identities of the sending and receiving wallets in both transactions are unknown, adding an extra layer of intrigue. The transfers involving massive amounts of PEPE suggest that large players, most likely institutional or whale investors, might be actively repositioning.
The moves could be funds or custodial reshuffling, whale accumulation, OTC transactions (off-exchange trading between whales or institutions) or liquidity management. However, the exact reason for the moves is unknown.
PEPE price jumps
The massive activity comes as Pepe continues its upward ascent. PEPE began to recover from a low of $0.00000759 on May 6. Since this date, PEPE has marked six out of seven days in the green.
From a technical standpoint, PEPE has convincingly broken over major resistance levels, especially the daily SMA 50 at $0.00000814, pushing into higher trading ranges not seen in months.
According to CoinMarketCap data, the PEPE price has increased by more than 15% in the last 24 hours to $0.00001484, bringing its weekly gains to a remarkable 81%. The meme coin rally is gaining traction, attracting retail and whale interest amid a return in risk-on sentiment across the market.
PEPE rocketed to highs of $0.0000154 in the early Monday session, a level not seen since Jan. 24, 2025.
Vladislav Sopov