#BinanceAlphaAlert

Reactivating and withdrawing 2 billion Binance tokens: igniting a surge

One of the major holders of the PEPE coin has resurfaced after two years of silence, withdrawing over 2 billion tokens from Binance in a move that caught the attention of the cryptocurrency market.

This sudden activity has sparked a new wave of interest in the meme coin, leading to an increase in prices and trading volume.

PEPE trading explodes thanks to the whale

On May 17, blockchain analytics firm Lookonchain reported that the whale initiated a large transaction involving PEPE tokens. The investor withdrew 1.79 billion PEPE - worth $22.23 million - from Binance to a newly activated wallet.

One day later, the whale withdrew another 420 billion PEPE tokens, worth approximately $5.39 million, from the cryptocurrency exchange. As a result, the whale has now withdrawn 2.21 billion PEPE tokens, worth $29 million, from Binance in two separate transactions over a 24-hour period.

Market observers noted that these actions effectively reduced Binance's PEPE reserves by about 2%. The withdrawals, directed to self-custody wallets, indicate a deliberate accumulation strategy and suggest the whale's confidence in the long-term value of the token.

Typically, this behavior reflects a shift from short-term speculation to a buy-and-hold approach. Meanwhile, the whale's return and the rapid accumulation of tokens coincided with a rise in the price of PEPE. According to data from BeInCrypto, the value of the memecoin has increased by more...