PEPE Whale Returns With a Splash, Moves $29 Million in Tokens From Binance!
Jakarta, Pintu News – A large holder of Pepe Coin resurfaced after two years of inactivity, withdrawing more than 2 trillion tokens from Binance-a move that immediately caught the attention of the crypto market.
This unexpected activity sparked a new wave of interest in the meme coin, driving up the price and trading volume.
PEPE Trading Surges as Whale Moves $29 Million in Tokens from Binance
On May 17, blockchain analytics company Lookonchain reported that a whale (large investor) made a large transaction related to PEPE tokens. The investor withdrew 1.79 trillion PEPE tokens – worth $22.23 million – from Binance to a new wallet that had just been activated.
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The next day, the whale pulled another 420 billion PEPE tokens from the crypto trading platform, worth about $5.39 million.
Thus, the total PEPE tokens withdrawn by the whale reached 2.21 trillion, worth $29 million, in two separate transactions in just 24 hours.
Market observers note that this move has effectively reduced the PEPE token reserve on Binance by about 2%.
This withdrawal directed to self-custody indicates a deliberate accumulation strategy and demonstrates Whale’s belief in the long-term value of the token.
Generally, this kind of behavior reflects a shift from short-term speculation to a buy-and-hold approach.
PEPE Price Rally Triggers Domino Effect
Meanwhile, the whale’s return and rapid accumulation action coincided with the PEPE price rally.
According to data from BeInCrypto, the meme coin surged more than 10% in the last 24 hours (5/18) and is trading at $0.00001345. This marks an incredible rise of 87.5% in just the last month.
Moreover, this rally also triggered a domino effect in the digital asset derivatives market.
Data from CoinGlass shows that short positions betting against PEPE’s price surge saw around $2 million liquidated in the last 24 hours (5/18). In the same period, traders with long positions also recorded losses of around $907,000.
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At the same time, open interest in PEPE futures jumped 15%, breaking the $500 million mark-a level last reached in January.
Open interest (OI) is a measure of the total value of active and unsettled futures contracts, and is often used to assess market sentiment and trading activity.
This new wave of activity, fueled by large investors, further strengthens PEPE’s position as a leading digital asset. It has also made the token one of the most monitored meme coins in a highly volatile crypto market.
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*Disclaimer
This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.
Reference:
- BeInCrypto. Dormant PEPE Whale Withdraws 2 Trillion From Binance. Accessed on May 19, 2025
