Whales offload over 1 trillion PEPE tokens on Coinbase and Binance, securing huge profits.
PEPE skyrockets to $0.00002524 after listings on Coinbase, Robinhood, and Upbit.
Meme coins like PEPE, DOGE, and WIF lead market gains with significant returns this week.
Whales have offloaded over a trillion PEPE meme tokens on leading exchanges, pushing the cryptocurrency market into a frenzy. The on-chain analytics platform, @spotonchain, reported that two massive PEPE transactions took place on Coinbase and Binance, the largest trading platforms in the U.S. and globally, respectively.
https://twitter.com/spotonchain/status/1856908390070718863
The first whale dumped approximately 526.2 billion PEPE tokens on Binance, earning around $5 million in profit after holding the tokens for just a week.
This transaction, valued at nearly $10 million, came right after Coinbase announced its decision to list PEPE alongside Dogwifhat (WIF). The announcement caused a surge in PEPE’s value, driving it to an all-time high of $0.00002524.
Following the Binance transaction, another whale unloaded 500 billion PEPE tokens on Coinbase, securing nearly $11.73 million. This investor had been holding PEPE since 2023, accumulating the tokens at prices between May and September for a total of 1,170 ETH (worth $2.12 million at that time).
Significantly, these massive sales coincided with listings of PEPE on multiple platforms, including Robinhood and South Korea’s largest exchange, Upbit.
The listing announcements fueled a substantial rally, with PEPE’s price spiking by 101% in the last 24 hours to reach its peak. However, the market experienced a pullback, with the price dropping by 16% to its current value of $0.00002174.
PEPE’s remarkable rise has placed it among the top performers in the meme coin sector. According to data from the on-chain analytics firm, Santiment, PEPE has secured the highest gains among meme tokens over the past week, followed closely by Dogecoin with 96% returns.
Meanwhile, WIF and Bonk (BONK) also surged by 67%, benefiting from renewed interest in meme-based cryptocurrencies.
However, the current market behavior indicates heightened interest and trading driven by emotions, especially on platforms like X (formerly Twitter), Reddit, and Telegram. This trend often highlights speculative trading, as meme coins draw significant attention during bullish periods.
Nonetheless, the surge in listings and whale activity shows that meme coins continue to be a force in the cryptocurrency market, with PEPE leading the charge.
