Epic 9 Trillion PEPE Leave Top Exchange – What's Happening?

Whale Alert Detects Massive PEPE Transaction

Whale Alert, a renowned blockchain tracker, has detected an astounding cryptocurrency transfer involving $83,250,000 worth of PEPE, a popular meme coin. The coins were moved from Bybit, the fourth largest cryptocurrency trading platform by volume.

PEPE Price Surges Amid Transaction

Coinciding with the massive transaction, the price of PEPE has witnessed a significant increase of almost 16% in the past 24 hours. As of writing, PEPE is trading at $0.00000929.

Double Bottom Pattern May Signal Reversal

Prior to the price surge, PEPE experienced a decline of 18% between Saturday and Monday. However, the recent price action has formed a Double Bottom pattern on the chart, which suggests a potential reversal and a subsequent upward trend.

Whale Transfer Speculation

Speculations arose within the community regarding the reason behind the large transaction. Some speculate it may be a whale purchasing the meme coin, while others suggest it could be an internal transfer between Bybit blockchain wallets.

Earlier Whale Transfer

On July 2, Whale Alert reported a similar transfer of 1,286,733,285,955 PEPE from Binance. However, that transaction was later confirmed to be an internal Binance transaction.