2024

Arkham

Million

PEPE

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A recent report from&nbsp;<a href="https://x.com/whale_alert/status/1803012228649460044">Whale Alert</a> reveals that 1,158,893,534,074&nbsp;<a href="https://u.today/shiba-inu-shib-collapses-10-as-meme-coins-plunge">PEPE</a> tokens, equivalent to approximately 12.34 million USD, were transferred from an undisclosed wallet to Binance, the world's largest cryptocurrency exchange.
What is known about the sender address? Initially labeled as unknown, the sender address "0x835" has since been identified as belonging to Binance itself. This transfer of the meme coin, valued at over $12.3 million, was simply an internal move between Binance's cold wallets.
<blockquote>
 🚨 1,158,893,534,074 <a href="https://twitter.com/hashtag/PEPE?src=hash&amp;ref_src=twsrc%5Etfw">#PEPE</a> (12,342,216 USD) transferred from unknown wallet to <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw">#Binance</a><a href="https://t.co/fFkuZSc5rC">https://t.co/fFkuZSc5rC</a>— Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1803012228649460044?ref_src=twsrc%5Etfw">June 18, 2024</a>
</blockquote> 
The remaining balance of 6.78 trillion&nbsp;<a href="https://u.today/114-billion-pepe-traders-surprising-ethereum-shift-heres-why">PEPE</a> tokens, worth about $71.73 million, remains in the sender's address, while the destination address now holds 20.257 trillion PEPE tokens, equivalent to $211.48 million.
<img alt="&quot;&quot;" data-entity-type="file" data-entity-uuid="eb410ca9-3e7b-45a4-b0c8-4f396a7571f5" src="https://u.today/sites/default/files/inline-images/pepe_1.png">Source: <a href="https://platform.arkhamintelligence.com/explorer/address/0x835678a611B28684005a5e2233695fB6cbbB0007">Arkham Intelligence</a>
&nbsp;
Despite the transfer being an internal administrative action, it attracted significant attention to&nbsp;<a href="https://u.today/shib-and-pepe-print-triple-digit-surge-in-large-transactions">PEPE</a>. Traditionally, such movements toward exchanges are viewed negatively by market participants, often interpreted as a bearish signal.&nbsp;
However, in this case, the transfer was between Binance's own wallets, not from an external whale investor.
<img alt="&quot;&quot;" data-entity-type="file" data-entity-uuid="d1cb5bdd-9743-4e5d-a5f3-95e5ee75ed28" src="https://u.today/sites/default/files/inline-images/pepecoin_0.png">PEPE to USD by <a href="https://coinmarketcap.com/currencies/pepe/">CoinMarketCap</a>
The impact of this transfer on PEPE's market performance remains unclear, but the popular meme cryptocurrency has already experienced a decline of more than 16% since the beginning of the week.

PEPE Drama: $12.3 Million Transfer to Binance Raises Eyebrows

U_Today

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