- Whale transactions jumped 45%, totaling 7.76 trillion PEPE tokens.
- A single whale moved 531.5B PEPE worth $5.06 million.
- PEPE’s price dropped 5.7% as volume declined by 18.2%.
The frog-themed PEPE meme coin is seeing increased attention from whales amid overall market decline. Despite a broader crypto dip, large PEPE holders moved massive volumes in the last 24 hours. Whale transactions exceeded 7.7 trillion PEPE, reflecting a 45% surge in large transfers.
On-chain data from IntoTheBlock show that the volume of large PEPE transactions rose 45% over the last day. These transactions, defined as those exceeding $100,000, are used to track whale and institutional activity. During this window, approximately 7,760,000,000,000 PEPE tokens were moved, valued at nearly $86.9 million.
Volatility Follows Major Whale Transfer to Binance
The increased movement came shortly after a notable whale transaction. One whale transferred 531.5 billion PEPE tokens to Binance, valued at roughly $5.06 million at the time. This transfer occurred as PEPE was trading at $0.00000929.
The transfer added pressure to the asset, which has been experiencing notable price swings. At press time, PEPE was priced at $0.00001143, reflecting a 0.37% drop in 24 hours. The trading volume declined by 25% during the same period, falling to $690.28 million.
Price History and Support Levels Raise Caution
Recent price history paints a mixed picture for PEPE holders. In late May, the token added another zero after an 18% decline caused by a global market pullback. The price dipped to $0.0000092, approaching its next major support level around $0.00000758.
Analysts use large transaction metrics to gauge institutional interest and capital movement. With a 45% increase in this metric, IntoTheBlock data implies whales are actively navigating the downturn.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
