Pepe gets back in the game as whales show their strength
- A PEPE whale recently moved 2 trillion off the exchange.
- PEPE added 6% in value as it continued a bull trend.
Although Pepe [PEPE] fever may have subsided, new data suggests that certain whales are still actively involved in the game. The question remains: how significant could this latest whale maneuver be for the token’s trajectory?
How much are 1,10,100 PEPEs worth today
Pepe whale move assets off exchange
Lookonchain data has unveiled an intriguing development concerning one of the Pepe whales. On 5 July, the whale executed a substantial maneuver by withdrawing 2 trillion PEPE tokens from Binance, amounting to an approximate value of $3.28 million.
The same whale had previously withdrawn 1.93 trillion tokens, valued at around $3 million, from the same exchange in June. Presently, the whale’s addresses hold a total of 3.94 trillion PEPE tokens, equating to an estimated worth of $6.45 million as of the time of writing.
— Lookonchain (@lookonchain) July 5, 2023
This whale’s recent actions raise curiosity about its potential impact on the token’s trajectory.
An analysis of the inflow and outflow
A thorough examination of the PEPE flow on Santiment has revealed the profound impact of the whale’s move on 5 July. According to the Santiment outflow chart, the exchange outflow volume on that day reached nearly 3 trillion. This outflow volume stood as the second highest in July thus far, with a surge of over 6 trillion on July 3rd. As of this writing, the outflow volume hovered around 15.8 billion.
Conversely, when observing the exchange inflow, there appeared to be a relatively lower volume during the same period. On 5 July, the volume amounted to approximately 779 billion. As of this writing, the exchange inflow volume was around 355 billion, indicating a higher influx than outflow.
PEPE’s current circulating supply
Analyzing the current whale movement and transaction volume, a closer examination of the circulating supply provided insights into the potential impact. Coin Market Cap data revealed that the current circulating supply of the asset exceeded 391 trillion.
Furthermore, considering the volume within the last 242 hours, it fell within the range of approximately 16% to 20%. This suggested that while the whale move was noteworthy, it did not substantially impact the overall trade volume of PEPE.
Realistic or not, here’s PEPE’s market cap in BTC terms
PEPE price trajectory
PEPE experienced a significant decline of approximately 90% following its launch and remained relatively stagnant. However, towards the end of June, there was a notable surge in its price, propelling it into a new price range.
As of this writing, it had registered a 6% increase in value and was trading above its short Moving Average (yellow line). Furthermore, it was bullish, as evidenced by the Moving Average Convergence Divergence (MACD) indicator trending above zero.