• Whales move 9 trillion PEPE tokens worth $82 million to Bybit.

• The sender’s address has a history of high activity, currently holding 100.22 ETH.

A notable transaction was reported on July 10, 2024, involving the transfer of 9 trillion PEPE tokens, valued at approximately $82 million, from an unknown wallet to the Bybit crypto exchange.

According to Whale alert, the sender’s address (0x88a14933…23e323ade3) has a history of high activity, currently holding 100.22 ETH worth $311,399, along with tokens valued at $275,325,480 across 29 different cryptocurrencies. Recent transactions include several substantial ETH transfers to Bybit’s hot wallet, which now holds 57,172.30 ETH (worth $177,599,712.70) and over 201 different tokens valued at more than $429,964,262.83.

This whale activity has stirred up debates about a possible selloff. However, some analysts have argued that it may be an internal movement by Bybit. The transfer occurs amidst a period of PEPE’s price consolidation at $0. 00000920.

As highlighted in our previous article, Wintermute, a digital assets liquidity provider, recently sold 902 billion of its PEPE tokens. This significant movement was highlighted by “The Data Nerd” in a post on X. These large-scale transactions have made investors expect more price changes in the future.

Recently, Nascent, a venture capital firm, bought 447.67 billion PEPE tokens at $5.85 million in the wake of Monday’s price dip. This purchase suggests that there are still investors who are confident in the future of PEPE.

Mysterious Whale Books Substantial Profit 

Additionally, according to IntoTheBlock, there is a high level of PEPE token accumulation among Ethereum whales. Whales own the most significant parts of the tokens, with the most significant holder owning 22. 37% of the total supply. On the contrary, investors have a more diversified portfolio where the biggest holder owns less than 1% of the company.

In another incident, Lookonchain said that a whale made almost $650,000 in profits from PEPE when the price skyrocketed. This whale transferred 3.94 trillion PEPE tokens, valued at $7 million, to a wallet linked to Binance. Whale bought 1.93 trillion of PEPE on the 27TH of June and 2 trillion of PEPE on the 5th of July, suming to 3.94 trillion PEPE. In the last month, a crypto whale transferred a large amount of the meme-based cryptocurrency PEPE to Binance to sell them at a loss of about $1.57 million. 

PEPE Trading Volume and Price Fluctuate 

The trading volume for PEPE has been on a downward trend, and in the last 24 hours, it has reduced by 16.68% to $546 million. As of now, the coin has a market capitalization of $3.97 billion, ranking 24th among all cryptocurrencies. According to the data from the last 24 hours, the PEPE price has increased by 3% and currently trading at $0.000009444. The weekly chart indicates a 2% price drop with daily highs and lows of $0.000009435 and $0.000008791, respectively.