PEPE Drama: $12.3 Million Transfer to Binance Raises Eyebrows

Whales Alert: Binance Transfers Massive Amount of PEPE Tokens

A report from Whale Alert reveals that 1,158,893,534,074 PEPE tokens (approximately $12.34 million) were transferred from an undisclosed wallet to Binance.

Internal Transfer

Initially labeled as unknown, the sender address "0x835" was later identified as belonging to Binance itself. This transfer was an internal move between Binance's cold wallets.

Sender and Destination Balances

The sending address holds 6.78 trillion PEPE tokens ($71.73 million), while the receiving address now has 20.257 trillion PEPE tokens ($211.48 million).

Negative Market Perception

Typically, large token transfers to exchanges are viewed as bearish signals. However, in this case, the transfer was internal, not from an external investor.

PEPE's Market Performance

The impact of this transfer on PEPE's market performance is uncertain. However, the cryptocurrency has experienced a decline of over 16% since the beginning of the week.