Epic 9 Trillion PEPE Leaves Top Exchanges – What Happened?

The trillion-dollar PEPE transaction has attracted widespread attention in the cryptocurrency community. Whale Alert, a popular blockchain tracker that monitors large cryptocurrency transfers, detected a staggering transaction: $83,250,000 worth of the meme coin PEPE was transferred from the Bybit exchange. This huge transaction coincided with a significant increase in the price of PEPE over the past 24 hours.

PEPE Leaves Bybit, Prices Soar

Data shared by Whale Alert shows that the Bybit exchange transferred 9,000,000,000,000 PEPE, worth nearly $90 million, about two hours ago. Bybit is the fourth largest cryptocurrency exchange by trading volume. This unexpectedly large transfer event has caused a lot of discussion in the PEPE community, and many people believe that it is a bullish signal, and there seems to be anonymous whales buying. However, there are also some users who believe that it is just a transfer between two Bybit blockchain wallets - from a hot wallet to a cold wallet.

PEPE price rises

In the past 24 hours, the price of PEPE has risen by nearly 16%. At the time of writing, PEPE is trading at $0.00000929. It is worth noting that before this, PEPE plummeted by more than 18% between Saturday and Monday. Overall, the well-known cryptocurrency asset fell by 36.44% from Monday to Friday. This price change is mainly because the price of PEPE followed the sharp drop in Bitcoin, which occurred in the same time period last week. The layout is ongoing, communication +: GOOOKOOOY welcomes everyone to participate actively and witness the moment of miracle together

The formation of the double bottom pattern

During the period from July 5 to 8, PEPE showed a reversal double bottom pattern on the chart. If this pattern is established, PEPE may usher in a sharp rise or even enter an upward trend. According to U.Today, on July 2, an anonymous whale transferred 1,286,733,285,955 PEPE from the Binance exchange, a meme coin worth about $14,745,963. However, this huge transfer was proven to be an internal transaction of Binance.

Overall, the large transfer and price fluctuations of PEPE indicate that market dynamics are changing and deserve close attention from investors.

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