{"id":82594,"date":"2024-06-26T08:03:30","date_gmt":"2024-06-26T12:03:30","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=82594"},"modified":"2024-06-26T08:12:28","modified_gmt":"2024-06-26T12:12:28","slug":"pepe-coin-whale-raises-concerns-about-1-tln-pepe-transfer-to-binance","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/pepe-coin-whale-raises-concerns-about-1-tln-pepe-transfer-to-binance\/","title":{"rendered":"Pepe Coin Whale Raises\u00a0Concerns About 1 Tln PEPE\u00a0Transfer To Binance"},"content":{"rendered":"\n

Pepe coin whale's 1 trillion-coin deposit to Binance<\/a> has market participants gloomy despite PEPE's price\u00a0gain today.<\/p>\n\n\n\n

\"Pepe<\/figure>\n\n\n\n

Pepe coin has once again captivated a significant amount of investor interest in the broader crypto market, predominantly due to its on-chain dynamics.<\/p>\n\n\n\n

A well-known whale has offloaded nearly 1 trillion PEPE to Binance<\/a>, igniting grievous concerns among crypto market participants, in the background of PEPE's remarkable price rally today.<\/p>\n\n\n\n

Although the transaction has not yet been confirmed as a sell transaction, it has sparked a chain reaction of adverse sentiments regarding future price fluctuations.<\/p>\n\n\n\n

Whale Deposits 1.1 Tln Coins To Binance<\/h2>\n\n\n\n

The whale address 0x837 has executed a series of three transactions today, June 26, transferring a staggering 1.1 trillion PEPE to Binance, according to detailed on-chain insights provided by Arkham Intelligence.<\/p>\n\n\n\n

The first two transactions each involved the transfer of 400 billion coins to Binance.<\/p>\n\n\n\n

Meanwhile, the third transaction demonstrated the transfer of 300 billion coins to the same exchange.<\/p>\n\n\n\n

Collectively, $14.42 million worth of PEPE was deposited to Binance, which, if sold at the current price, would result in a loss of $894K.<\/p>\n\n\n\n

Notably, the whale in question still possesses 300 billion coins.<\/p>\n\n\n\n

A report also highlighted the same address's massive 700 billion PEPE transfer to Binance yesterday.<\/p>\n\n\n\n

The motives for these transactions are unknown, with potential panic selling mood as one plausible explanation given the recent turmoil in the crypto market.<\/p>\n\n\n\n

However, the sell order has not yet been finalized.<\/p>\n\n\n\n

Meanwhile, Pepe coin appears to have taken the brunt of the implications created by this transaction.<\/p>\n\n\n\n

According to CoinMarketCap's data, the meme coin's price dropped after reaching a high of $0.00001326 today.<\/p>\n\n\n\n

This fading price trajectory coincides with massive deposits to Binance today, although PEPE is still trading in the green.<\/p>\n\n\n\n

PEPE Price Soars<\/h2>\n\n\n\n

As of writing, the PEPE price\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> had risen 6.06% to $0.0000124.<\/p>\n\n\n\n

The token's 24-hour low was recorded at $0.00001157.<\/p>\n\n\n\n

Coinglass data indicates that Pepe coin is experiencing a market uptrend, as its Futures OI and derivatives volume have both increased in tandem with the price rally.<\/p>\n\n\n\n

PEPE's Futures OI increased by 3.63% to $130.59 million, while the volume spiked 2.26% to $1.86 billion.<\/p>\n\n\n\n

This contrasts with market attitudes created by big whale transfers.<\/p>\n\n\n\n

Furthermore, the RSI, which was at 52, undermined the whale transactions, suggesting at broader neutrality for the asset.<\/p>\n\n\n\n

At the same time, a well-known crypto market enthusiast\u00a0named ‘Elja' recently posted on X, stating, “PEPE kooks are ready for the next leg up. Did you buy the dip?\u201d further weighing the scale more toward the optimistic side for the meme coin.<\/p>\n","protected":false},"excerpt":{"rendered":"

Pepe coin whale’s 1 trillion-coin deposit to Binance has market participants gloomy despite PEPE’s price\u00a0gain today. Pepe coin has once again captivated a significant amount of investor interest in the broader crypto market, predominantly due to its on-chain dynamics. A well-known whale has offloaded nearly 1 trillion PEPE to Binance, igniting grievous concerns among crypto […]<\/p>\n","protected":false},"author":56,"featured_media":72807,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[326,2275,20233],"class_list":["post-82594","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-binance","tag-pepe","tag-pepe-coin-whale"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/03\/36166.webp","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/82594","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/56"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=82594"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/82594\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/72807"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=82594"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=82594"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=82594"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}