thecryptobasic.com
Leading crypto analytics firm Whale Alert indexes a significant movement of Pepe ($PEPE) worth over $12 million from between two Binance wallets.
Data from Whale Alert shows an unknown wallet transferred 1,158,893,534,074 (1.15 trillion) $PEPE tokens to an address affiliated with the world’s largest crypto exchange. The transaction, which occurred today at 10:29 UTC, was worth $12.34 million at the time of the disclosure.
🚨 1,158,893,534,074 #$PEPE (12,342,216 USD) transferred from unknown wallet to #Binancehttps://t.co/fFkuZSc5rC
— Whale Alert (@whale_alert) June 18, 2024
Further Insights on the Transacting Wallets
The crypto tracking service initially indicated that the 1.15 trillion $PEPE tokens emanated from an unknown address. However, a brief investigation into the transaction confirmed that the movement stemmed from an in-house transfer between Binance wallets.
Besides Ethereum (ETH), the sending wallet, tagged ‘Binance 70,’ currently holds 76 tokens worth $718.5 million. According to data from Etherscan, the wallet holds nearly 6.78 trillion $PEPE, worth $69.83 million at press time.
Similarly, the recipient wallet, labeled ‘Binance 28,’ currently holds 200 tokens, including $PEPE. Pepe ranks as the wallet’s second-biggest asset by dollar value, with a holding of 20.25 trillion $PEPE ($208.64 million).
Whales Show Massive Interest in Pepe
The recent transaction comes as crypto whales show massive interest in the frog-themed token. This month alone, crypto whales have gulped massive amounts of $PEPE tokens from exchanges.
On June 8, a wallet affiliated with venture capital giant Nascent purchased 447.67 billion $PEPE from Binance. Notably, $PEPE hit a major milestone earlier this month, as its 24-hour trading volume reached a staggering $41 billion on June 4.
Despite the hefty transactions witnessed by Pepe this month, the token’s price has been on a major downturn, with a month-to-date (MTD) decline of 34.1%. Currently, $PEPE trades at $0.00001023, representing a decrease of 11.2% over the past day and a 7-day decline of 16.21%.
These declines reflect the bearish direction of the broader crypto market. Pepe is currently ranked as the 23rd most valuable crypto, boasting a market cap of $4.28 billion and a 24-hour trading volume of $1.08 billion.