Giant Whale Withdraws 581 Billion PEPE from Binance: Loss Exceeds 2 Million Dollars!

A giant cryptocurrency whale has drawn attention by withdrawing approximately 581 billion Pepe Coin (PEPE) from the Binance exchange.

According to data shared by Lookonchain, the large-scale crypto investor transferred 581 billion PEPE tokens worth $7.93 million from Binance to a newly created wallet just two hours ago. This transaction stands out as one of the whale's significant movements in recent days.

The same whale also holds long positions in various cryptocurrencies such as PEPE, XRP ($XRP ), Bonk ($BONK ), and Pengu (PENGU) on the popular leveraged trading platform Hyperliquid. However, it seems that these positions have not gone as the whale had hoped for now.

According to the data shared by Lookonchain, the whale has incurred losses exceeding 2 million dollars on its investments on Hyperliquid. Nevertheless, the massive PEPE withdrawal made by the whale from Binance indicates that the investor is still pursuing an aggressive strategy in the meme coin market.

Persistence in Meme Coins Despite Losses

Despite the recent fluctuations and uncertainties in the meme coin market, the giant investor's insistence on holding positions in risky assets like $PEPE raises questions about how the market will shape up in the short term. Experts believe that this move by the whale could create new activities in meme coins in the future.