👀👀👀PEPE’s price action depends on these whales – All the details

📊 On 10 July, Etherscan data reported a huge PEPE transfer. An unknown wallet transferred 9 trillion PEPE tokens valued at $82 million to Bybit. This transfer coincided with a 9.7% rise in PEPE’s price, sparking curiosity about potential future price hikes. The sender’s address, 0x88a14933…23e323ade3, is known for high activity and frequent transactions. It currently holds 100.22 ETH, valued at $311,399, and tokens worth $275,325,480 across 29 different tokens.

💸 The address has made several high-value Ethereum transfers to Bybit’s hot wallet, including transfers of 2,900 ETH, 8,000 ETH, 10,000 ETH, and multiple 9,000 ETH transactions. This active transfer history indicates diversified trading activities and potential liquidity management strategies.

🐋 PEPE whale activity and distribution: According to IntoTheBlock, whales hold significant chunks of PEPE, with the largest holder having 12.17% of the total supply. AMBCrypto’s analysis shows that smaller investors hold less than 1%. Spikes in large transaction volumes are often positively correlated with price hikes, as seen in May 2023 and March 2024.

📈 AMBCrypto further analyzed Coinglass’s data on liquidity created by whale activity. Spikes in liquidations have coincided with significant price movements, suggesting that high trading volumes driven by whale activity can lead to major price fluctuations.

🔮 What’s next: PEPE’s price has been steady lately, but this whale activity could change that. PEPE might break past key price levels if enough bullish momentum accumulates. Otherwise, price consolidation may continue.