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A recent report from Whale Alert reveals that 1,158,893,534,074 PEPE tokens, equivalent to approximately 12.34 million USD, 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 move between Binance's cold wallets.
The remaining balance of 6.78 trillion PEPE tokens, worth about $71.73 million, remains in the sender's address, while the destination address now holds 20.257 trillion PEPE tokens, equivalent to $211.48 million.
Tomiwabold OlajideDespite the transfer being an internal administrative action, it attracted significant attention to PEPE. Traditionally, such movements toward exchanges are viewed negatively by market participants, often interpreted as a bearish signal.
However, in this case, the transfer was between Binance's own wallets, not from an external whale investor.
The impact of this transfer on PEPE's market performance remains unclear, but the popular meme cryptocurrency has already experienced a decline of more than 16% since the beginning of the week.
Alex Dovbnya
Godfrey Benjamin
Dan Burgin
Vladislav Sopov