Whale moved 595.2B PEPE to Binance, locking in a $1.57M profit over 3 months.
Despite the sale, 104.4B PEPE worth $1.15M remains held, signaling continued market interest.
Short liquidations rose as PEPE held firm near $0.0000117 after the large whale transfer.
A large cryptocurrency wallet identified as “qianbaidu.eth” has recently moved 595.2 billion PEPE tokens, valued at approximately $6.52 million, into Binance. With this transaction, the wallet owner would be able to obtain a profit of 1.57 million dollars, an increase of 32 percent over the last three months. This transfer has been a highlight of the crypto market as it has the potential to affect the direction of prices and the sentiment in crypto trading
Whale Movement Signals Possible Market Shift
According to data shared by Spot On Chain, the PEPE deposit by qianbaidu.eth represents one of the largest single whale transactions in recent weeks. Such activity often coincides with intentions to either sell or rebalance portfolios. The wallet's profit margin of $1.57 million suggests that the tokens were acquired during PEPE’s lower pricing in prior months.
https://twitter.com/spotonchain/status/1934436086824255576
The timing and scale of this move may trigger responses from both retail and institutional participants. Market watchers have been monitoring Binance’s order books for signs of increased sell-side activity following the transfer. Rapid shifts in volume or sudden drops in price could reflect active liquidation.
Continued Holding Suggests Ongoing Market Interest
Despite the large transfer, the whale retains 104.4 billion PEPE crypto tokens, worth about $1.15 million, in a separate wallet. According to Spot On Chain’s update, this remaining holding is still in profit by approximately $320,000. The decision to keep a portion of the position shows that the wallet owner is not fully exiting the PEPE market.
Such behavior reflects a common pattern in the memecoin space, where whales often manage multiple positions simultaneously. A portion is moved to exchanges for liquidity, while the rest is held, potentially awaiting new price cycles or market developments.
Price and Sentiment Watch Amid High Volatility
Large token movements can increase volatility, especially when community speculation follows. PEPE’s current price is showing some resistance around the $0.0000117 level, though market response post-transfer remains under observation. Traders are keeping a close watch on price behavior over short-term intervals.
CoinGlass data indicates that short liquidations in PEPE have increased. Over the last 12 hours, $178,700 in short positions were closed. This may suggest some traders expected a price drop that has yet to materialize. The transfer also reflects broader activity in the PEPE ecosystem.
Whale activity remains a major market indicator in crypto memecoin dynamics. The transaction by qianbaidu.eth joins a growing number of large-scale token movements, signaling the potential for upcoming trend shifts. The situation remains fluid, and traders are tracking further wallet movements. As of now, the focus is on whether additional PEPE will be moved or held as part of a longer-term strategy.
