Multisig Wallet Shifts Pepe Coin To Binance
According to reports from various on-chain transaction tracking platforms, a multisig wallet, typically associated with whales or institutions, was responsible for the deposit of 1.238 trillion PEPE, equivalent to $10.56 million, to Binance. While the coin’s price trajectory waned, this colossal PEPE dump has additionally sparked bearish market sentiments, with investors speculating that PEPE’s price might have topped.
However, market data illustrates that PEPE’s net outflow from exchanges also spiked in the past 24 hours, stirring contrasting sentiments. PEPE’s net outflow from Binance totaled $11.32 million in the past 24 hours, whereas $1.72 million was the net outflow recorded via OKX, undermining the inflows recorded. This paints a contrasting picture of Pepe’s market stand.