š± Shocking: Pepe Coin Whale Transfers 1 Trillion Tokens to Binance Exchange
On June 18, concerns among investors about Pepe Coin grew amidst the overall decline in the crypto market. The frog-themed meme coin experienced a notable correction in the last 24 hours, exacerbated by a significant sell-off from a large holder.
According to on-chain data, more than 1 trillion PEPE were transferred to the Binance exchange. This transaction fueled widespread speculation about the future price trajectory of Pepe Coin.
Whale Alert data revealed that an unknown address, 0x835678a6, sent 1.15 trillion PEPE worth $12.34 million to Binance. This substantial transaction has placed considerable selling pressure on the asset, further highlighting diminishing market confidence.
Despite this large sell-off, the whale still holds a significant amount of PEPE and other tokens. Etherescan data shows the whale's holdings include 6.77 trillion PEPE worth $71.86 million and 2.19 trillion SHIB worth $39.51 million, along with various tokens such as #LINK, #MATIC, #RNDR, and #OM.
PEPE's price has shown signs of a correction, dropping 9.21% to $0.0001055 in the last 24 hours, with daily lows and highs of $0.000009865 and $0.00001176 respectively.
According to Coinglass, Pepe Coin experienced significant liquidations amounting to $6.78 million from yesterday to today, contributing to its recent price drop.
PEPE's Futures Open Interest (OI) decreased by 14.52% to $109.67 million, indicating waning investor interest in the futures market. However, derivatives volume surged by 79.19% to $1.96 billion, likely driven by speculative trading.
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