🚨$PEPE WHALE MAKE $26 MILLION ON BINANCE

The transfer in question involved the movement of about 1.79 trillion tokens of the memecoin, worth approximately $26.6 million at the time the transaction occurred. Considering the large scale associated with the move, it’s likely that a whale entity was behind it.

Whales are the big-money investors who can carry some degree of power in the market, so their moves can be worth keeping an eye on. Naturally, a transaction from just one whale is unlikely to directly affect the asset’s price, but it can still contain a hint or two about what the sentiment may be like among the large holders.

Generally, though, there isn’t much that can be gained from looking at transaction data alone, considering that most wallets on the network are anonymous. Luckily, the latest Pepe whale transfer isn’t like this; it has an already identified wallet involved in it.

the sending address for this PEPE transaction was a wallet attached to the cryptocurrency exchange Binance, while the receiver was an unknown address, meaning it was likely the whale’s self-custodial wallet.

Moves of this type where coins exit the custody of centralized exchanges are called exchange outflows. Usually, investors transfer to their personal address when they plan to hold for the long term, so exchange outflows can be a bullish sign for the asset’s price.

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