PEPE Whales Surge on Binance as Long-Term Holders Exit

Pepe Cryptocurrency Experiences Shift in Holder Composition

The meme-inspired cryptocurrency Pepe (PEPE) has witnessed a significant shift in its holder composition, with a notable increase in whale activity.

Large Holders Decline, Whale Activity Surges

IntoTheBlock data reveals that the net flow of large PEPE holders has shifted from a $534 billion outflow to a $580 billion inflow as of December 3rd. Simultaneously, whale activity has surged, leading to speculation about potential FOMO among retail investors.

Whale Accumulation and Withdrawal

An unidentified crypto whale has accumulated and withdrawn over 337 billion PEPE tokens from Binance in the past 20 days, totaling approximately $7 million. The most significant net inflow occurred on November 14th, when whales acquired 4.7 trillion PEPE, causing the coin's price to briefly rise to $0.000023.

Exits by Long-Term Holders

In contrast to the whale activity, long-term and mid-term PEPE holders have been exiting the market. The number of wallet addresses holding PEPE for more than a year declined to 89,000 on December 3rd from 91,200 on November 11th.

Increase in Short-Term Holders

Meanwhile, the number of investors holding PEPE for less than a month has increased by 262% in the past 30 days, with 72,000 unique addresses recorded.

Consolidation and Price Movement

Over the past two days, PEPE has consolidated near the $0.000020 mark, with a market cap of $8.69 billion. Trading volume has declined by 1% to $3.48 billion in the past 24 hours.

Bullish Prospects and Future Challenges

Analysts predict that PEPE may face hurdles in its bullish movement without significant whale accumulation. The token's volatility remains high, and its upward momentum depends on the actions of these large investors.

As of December 4th evening, Pepe was trading at $0.00002049, up 4.80% from the previous day. Trading volume had increased by 8.52% to $3.57 billion, and the market cap had risen to $8.60 billion.