The operations in the crypto world are too exciting! According to on-chain data, a whale holding a large amount of PEPE coins suddenly transferred 609 billion PEPE coins worth 6.4 million dollars to Binance exchange. Previously, they also sold coins worth 18.1 million dollars, and now they only have 60 billion left, with a paper loss of 3.2 million dollars.
This is not simple! I dare say this is clearly the whale trying to run away. Generally, transferring coins to an exchange means preparing to sell off for cash. Having lost so much, the big holder definitely wants to quickly stop the loss and reduce damages. Once they sell off in large quantities, the price of PEPE coins is likely to plummet, and the market will also experience drastic fluctuations.
However, there is also a turnaround; if Binance can absorb these sell orders, perhaps someone can take the opportunity to buy low and sell high. The next 24 hours are crucial, and we must closely monitor Binance's buy and sell orders, the dynamics of large wallets, and price changes. Personally, I think this transfer is a signal for big holders to exit, and the short-term trend for PEPE is dangerous, so everyone must be cautious!
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