Whale Alert, a prominent crypto analytics company, has detected a significant transfer of Pepe (PEPE) tokens totaling over $12 million between two Binance wallets.
According to data from Whale Alert, an unidentified wallet moved 1.15 trillion PEPE tokens to an address linked to the largest cryptocurrency exchange in the world. The transaction took place at 10:29 UTC today and was valued at $12.34 million at the time of reporting.
Upon further investigation, it was revealed that the 1.15 trillion PEPE tokens were transferred internally between two Binance wallets. The sending wallet, known as ‘Binance 70,’ currently holds 76 tokens with a total worth of $718.5 million, including nearly 6.78 trillion PEPE valued at $69.83 million. The receiving wallet, ‘Binance 28,’ holds 200 tokens, with PEPE being the second-largest asset with a holding of 20.25 trillion PEPE worth $208.64 million.
The interest in Pepe tokens among crypto whales has been evident in recent transactions. A wallet associated with Nascent, a venture capital giant, acquired 447.67 billion PEPE tokens from Binance on June 8. Despite the increased activity, Pepe’s price has experienced a significant decline this month, dropping by 34.1% month-to-date. Currently trading at $0.00001023, Pepe has seen an 11.2% decrease in the past day and a 16.21% decline over the past week.
These price fluctuations are reflective of the overall bearish trend in the cryptocurrency market. Pepe is currently ranked as the 23rd most valuable cryptocurrency, with a market cap of $4.28 billion and a 24-hour trading volume of $1.08 billion.
Please note that this article is for informational purposes only and should not be considered financial advice. The opinions expressed are those of the author and do not necessarily reflect the views of The Crypto Basic. Readers are advised to conduct their own research before making any investment decisions, as The Crypto Basic is not liable for any financial losses incurred.