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A PEPE whale sold 2.2 trillion tokens at a $3.5 million loss across three Binance deposits.
PEPE formed a bullish flag with a possible 102% upside to $0.00002051 if confirmed.
RSI dropped to 37.65, signaling weak momentum and approaching oversold territory.
The market for the meme token PEPE is presenting a conflicting picture for traders, as significant bearish on-chain activity clashes with a potentially bullish technical chart pattern.
While a major whale has exited a multi-trillion token position at a loss, a classic continuation pattern on the daily chart suggests the potential for a significant rally.
On-Chain Data: A Major Whale Exits:
According to data from on-chain tracking service Lookonchain, a large PEPE whale has exited their full 2.2 trillion token position, recording an estimated $3.5 million loss. According to Lookonchain, the wallet address 0x6ea4…FE0 deposited the final 600 billion PEPE tokens to Binance about 50 minutes ago, completing a month-long sequence of returns to the exchange.
On-chain data confirms the whale had withdrawn 2.2 trillion PEPE from Binance in mid-May. Over the past ten days, they returned those tokens in three separate deposits—first on June 8, then on June 13, and finally on June 18. The final batch, worth $6.04 million, marked the end of the whale’s position.
The withdrawal a month ago was valued at $27.64 million. By the time the whale completed the return, token prices had dropped enough to realize a $3.5 million loss. Each batch went to the same Binance deposit address. The image data shows all related transactions: the wallet received over 1.1 trillion PEPE from Binance 14 on May 17, added 633 billion more the next day, and continued to accumulate until holding 2.2 trillion tokens.
This reversal appears to be a full-scale exit. The whale took the loss and sent the entire stack back to the same platform it came from. The move highlights a drop in whale confidence and adds pressure to the PEPE price. When such large holders offload tokens to exchanges, it often signals a bearish short-term trend. The market now watches whether similar wallets follow the same path.#INDIANstock
$PEPE