A new wallet address has revealed that a total of $1.65 million worth of PEPE was transferred from Binance and Bybit exchanges.
and MOG coins were withdrawn. These large transactions raised concerns in the community about price manipulation and large investment movements, and the prices of PEPE and MOG coins increased.
There has been significant movement in the cryptocurrency market recently. A new wallet address has attracted the attention of investors by withdrawing large amounts of PEPE and MOG coins from major exchanges such as Binance and Bybit. The wallet address has caused controversy with the transactions it has made in the last 3 hours.
Wallet Address Withdraws 121.7 Billion PEPE from Binance
According to data from blockchain analytics platform Lookonchain, a newly created wallet address withdrew 121.7 billion PEPE tokens from the Binance exchange. The transaction was worth around $1.06 million. While PEPE has seen significant interest among memecoins in recent months, the motivation behind this high-volume transfer remains unclear. Experts note that such transactions are often associated with price manipulation or major investment moves.
Also Withdraws 421.74 Billion MOG from Bybit
The same wallet address also withdrew 421.74 billion MOG coins from the Bybit exchange after the PEPE withdrawal transaction. This transaction was worth approximately $599,000. MOG, although a memecoin like PEPE, is a lesser-known altcoin with a lower trading volume.
Such large-scale coin movements are usually closely monitored in the market. Large exits from exchanges are considered a positive signal by investors. The person or organization behind these transactions is not yet known, but it is usually associated with large investors or market manipulation.
At the time of writing, PEPE coin was trading at $0.00000899, up 6.03% in the last 24 hours, while MOG coin was trading at $0.000001434, up 12.24% in the same period.
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