Hi Guys,
It's Big & Big #alert of 1.48 Trillion $PEPE Transaction From Binance
1.48 Trillion PEPE Exits Binance in Epic Whale Shift
According to on-chain data, a massive 1.48 trillion PEPE tokens have recently exited the world's largest crypto exchange, Binance.
This large transaction was executed by a wallet believed to be related to the institutional crypto asset manager, Ceffu.
On-chain data provider Lookonchain reports that "a wallet related to Ceffu withdrew 1.48 trillion PEPE worth $11.6 million from Binance just now."
A wallet related to #Ceffu withdrew 1.48T $PEPE($11.6M) from #Binance just now
The withdrawal was carried out in two separate transactions: the first involving one trillion PEPE tokens, followed by an additional 480 billion PEPE tokens.
This move has sparked considerable interest and speculation within the crypto community.
Withdrawals from exchanges often imply intent to buy, while deposits might signal an intent to sell.
Aside from buying, large withdrawals such as this can often signal various market strategies, including transfers to cold storage for long-term holding.
The exact intentions behind this large withdrawal remain speculative. PEPE price action Following six days of increases, PEPE witnessed profit-taking after reaching a high of $0.000009847 on Aug. 24.
The declines lasted three days before PEPE began to rebound. PEPE slid to lows of $0.00000734 in Wednesday's trading session before recovering.
The drop in PEPE's price at the start of the week coincided with the broader declines on the cryptocurrency market.
The cause of the drop, which began Tuesday evening when Bitcoin fell 6% in an hour, was not immediately evident, although speculators cited futures market liquidations and continuous selling pressure from Mt. Gox distributions and U.S. government holdings.