PEPE Bullish Signal: Whale Withdraws $14.7 Million Stack From Binance

PEPE Whale Withdraws Large Amount from Binance

On-chain data reveals a significant withdrawal of PEPE tokens from Binance by a whale entity, indicating potential bullish sentiment for the memecoin.

Whale Transaction Details

According to Whale Alert, a massive transaction involving 1,286,733,285,955 PEPE tokens (valued at over $14.7 million) occurred on the blockchain within the past 24 hours. The sending address was affiliated with Binance, while the receiving address was not associated with any centralized platform, suggesting an investor's personal wallet.

Implications for Price

Exchange outflows, where tokens are moved from exchanges to personal wallets, can often indicate long-term holding intentions and potentially benefit the cryptocurrency's price. This may have been the whale's intention with this withdrawal.

Bearish Scenario

However, it is also possible that the whale withdrew their PEPE stack to sell it over-the-counter (OTC), which could have bearish implications for the price.

Current PEPE Price

After recently recovering to $0.0000121, PEPE has experienced a slight decline and is currently trading around $0.0000115. Its performance over the past few days is shown below: