Pepe

Bitcoin

Trillion

<figure><figcaption> Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a></figcaption></figure>Frog-themed cryptocurrency <a href="https://u.today/pepe-sees-remarkable-93-rally-heres-reason" rel="noopener noreferrer nofollow">Pepe (PEPE)</a> has seen a massive token shift, crypto data tracker Whale Alert reported.<a href="https://twitter.com/whale_alert/status/1717973376818438203" rel="noopener noreferrer nofollow">Whale Alert</a> reports that 6.2 trillion PEPE tokens, or 6,242,222,073,238 tokens worth $7,072,053, have been transferred from top cryptocurrency exchange Binance to an unknown wallet.<blockquote>🚨 6,242,222,073,238 <a href="https://twitter.com/hashtag/PEPE?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#PEPE</a> (7,072,053 USD) transferred from <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Binance</a> to unknown wallet<a href="https://t.co/RurXTauCpe" rel="noopener noreferrer nofollow">https://t.co/RurXTauCpe</a>— Whale <a href="https://twitter.com/whale_alert/status/1717973376818438203?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">October 27, 2023</a></blockquote>When assets are deposited on an exchange, it usually implies an intention to sell, but withdrawals may indicate a desire to acquire. Tokens are removed from exchanges for a variety of reasons. One of the reasons could be to buy.The week saw a massive shift of <a href="https://u.today/pepe-pepe-surges-27-as-meme-coins-thrive-in-new-bull-run" rel="noopener noreferrer nofollow">Pepe tokens</a>, in one instance to a burn address. A total of 6.9 trillion PEPE worth roughly $6 million was burned at the start of the week. The burn addressed concerns about prospective token sales on the open market following an incident in August in which some rogue developers transferred 16 trillion tokens to an exchange, sparking speculation.However, a new team of advisors has been recruited to take Pepe forward, which might be the start of a new dawn for the meme coin. The remaining 3.79T tokens ascribed to the initial team CEX multisig wallet are currently being explored for strategic collaborations and marketing opportunities.PEPE also commits to keeping its community up to date on any future token burning, moves, or usage.<a href="https://u.today/pepe-pepe-showing-surprising-rebound-bulls-comeback" rel="noopener noreferrer nofollow">PEPE</a> experienced a bullish run this week, doubling in days to a $500 million market value as traders expect the beginnings of a Bitcoin (BTC) spot ETF-induced bull market.On Wednesday, a post on Pepe's X page showed that the token was held by over 155,000 individual wallets, including all token bridges to Arbitrum and BSC.At press time, the popular meme coin was trading at $0.000001196, down 0.25% in the previous 24 hours.

Massive 6.2 Trillion Pepe Transfer From Binance, How PEPE Price Reacted

U.Today

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