On April 30, the PEPE market unexpectedly stirred: one of the large holders transferred 1.5 trillion PEPE to a private wallet directly from Binance. At the time of the transfer, the amount totaled $13.3 million. The source of the information is LookOnChain, and market participants are already placing bets: what's next?
This step is not just asset logistics. It is an important turning point in the context of liquidity, especially against the backdrop of a revival in the meme coin segment.
What lies behind the transfer: $13.3 million in PEPE leaving the exchange
As reported by LookOnChain analysts, the address that received this volume of tokens already contains assets worth $147 million. The transfer occurred in a single transaction — from the centralized exchange Binance to a private wallet (0x3c9e…). At the time of sending, PEPE was trading at $0.00000887, having gained about 2.3% over the day.
Such activity hints at a possible transition to long-term storage — HODL, as crypto enthusiasts say, or preparation for trading on decentralized platforms. In any case, the withdrawal reduces selling pressure from Binance and demonstrates a confident bullish sentiment.
PEPE has increased in volume — activity is not slowing down
This move turned out to be not a single one. The trading volume of PEPE surged by 18% over the day, reaching $1.2 billion. Binance played its role here, accounting for 35% of the volume — about $420 million.
An additional surge of interest was triggered by limit orders: within two hours after the transfer, buy orders for PEPE/USDT increased by 15%. It is possible that whale activity served as a catalyst for retail players.
Additionally, after the transaction, Binance reported a 7% decrease in its PEPE reserves. Such a reduction in supply on the market is traditionally interpreted as a signal for growth and may spur further upward movement.
Price movement: on the verge of a breakout
By 1 PM UTC, PEPE was already priced at $0.00000915, which gave almost a 3% increase in just three hours. However, experienced traders are not in a hurry to jump on the bandwagon — there is a risk that the same whale may switch to another market, such as Uniswap or SushiSwap.
Interestingly, the transfer coincided with a rise in Bitcoin — which typically has a positive effect on the entire range of meme coins, including PEPE.
From a technical perspective, the RSI on the 4-hour chart is holding at 62 — this is a zone close to overbought but not critical yet. If PEPE breaks above $0.00000950 and sustains growth in volume, a push towards $0.00001 can be expected. Otherwise, a retracement to $0.00000850 is quite likely, especially if market sentiment shifts to bearish.