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PEPE whale’s 330 billion dump – Is a sell-off on the way now?

3min Read

A whale’s actions have stirred much speculation, and with good reason too.

Pepe whale dumps 330 billion tokens, sparking sell-off fears

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  • A PEPE whale took a +$3 million hit following a sell-off of 330 billion tokens
  • PEPE, at press time, remained below the neutral line of its RSI

A PEPE whale’s major move has sparked curiosity and prompted a closer examination of the memecoin’s on-chain data. An analysis of these on-chain metrics can give us insights into the market’s true trend and the prevailing sentiment among holders and traders. Including the whale in question. 

What did the whale do?

Recent data from Lookonchain revealed that a PEPE whale made a significant move less than 24 hours ago. The whale deposited 330 billion tokens, valued at approximately $2.53 million, into Kraken. This deposit typically suggests an intent to sell. In most cases, such a large transaction is likely profitable. However, in this instance, the data suggested that the whale may be selling at a loss—over $3 million.

The whale’s recent trading activity provides context for this decision. Earlier in the month, the whale had capitalized on market fluctuations by selling high and buying low. However, despite these previous gains, its current holdings have not been profitable, leading to the decision to sell off a portion of the tokens. Possibly to prevent further losses.

Interestingly, even after this significant sale, the whale still holds about 1 trillion PEPE tokens, valued at over $7 million. This means that while the whale is mitigating losses on some of the holdings, it still holds a significant position in PEPE. This might be so because the whale is anticipating a future recovery or price hike.

On-chain data points to massive sales

An analysis of PEPE’s exchange inflows and outflows data on Santiment revealed a significant disparity between the two metrics.

Inflows refer to the deposits of PEPE tokens into exchanges, usually signaling a potential intent to sell. At the same time, outflows represent tokens being withdrawn from exchanges, typically indicating accumulation or holding.

Pepe exchange flow

Source: TradingView

At the end of trading on 30 August, the data showed that the inflows were over 76 billion PEPE tokens. On the contrary, the outflows were around 23 billion tokens.

This disparity suggested that considerably more tokens were deposited into exchanges than withdrawn, implying heightened selling pressure during that trading session.

The large inflows figure aligns with the previous report of a significant deposit by a whale, indicating that this whale’s move was not an isolated incident. Instead, multiple holders have been looking to sell off their tokens, contributing to the overall hike in inflows.

Bear trend continues…

An analysis of PEPE on the daily timeframe indicated that it closed the last trading session with modest gains of 1.57%. However, more significant gains would be needed to counteract the selling pressure, particularly from the whale addresses analyzed.

Pepe daily time frame chart

Source: TradingView

Further analysis revealed a predominantly bearish market. The memecoin noted a brief bull trend lasting only three days during the month. This bearish momentum was reflected in the Relative Strength Index (RSI), which had a reading of around 40 at press time.

The position suggested that the token may be in a weak or bearish territory, although not yet oversold.


– Is your portfolio green? Check out the PEPE Profit Calculator


At the time of writing, PEPE was trading at approximately $0.00000773, following a slight decline of 0.3%.

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Adewale is a full-time journalist at AMBCrypto. While he is increasingly fascinating by the world of blockchain and cryptocurrencies, Adewale holds a degree in International Relations. Besides working on insightful articles that touch upon the crypto-space's hottest issues, he finds joy in supporting Manchester United and Afrobeat music.
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