Binance adjusts 115 billion PEPE transaction volume, price drops 11

Leading crypto analytics firm Whale Alert indexed a significant transfer of over $12 million worth of Pepe (PEPE) from one Binance wallet to another.
Data from Whale Alert shows that an unknown wallet transferred 1,158,893,534,074 (1.15 trillion) PEPE tokens to an address associated with the world’s largest crypto exchange. The transaction took place at 10:29 UTC today and was worth $12.34 million at the time of disclosure.
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Further insights on exchange wallets
The crypto tracking service initially noted that the 115 billion PEPE tokens came from an unknown address. However, a brief investigation into the transaction confirmed that the transfer came from an internal transfer between two Binance wallets.
In addition to Ethereum (ETH), the sending wallet is tagged “Binance 70” and currently holds 76 tokens worth $718.5 million. According to Etherscan data, the wallet currently holds nearly 6.78 trillion PEPE, worth $69.83 million.
Likewise, the receiving wallet is labeled “Binance 28” and currently holds 200 tokens, including PEPE. Pepe is the second most valuable asset in the wallet with 20.25 trillion PEPE (208.64 million USD).
The whale showed great interest in Pepe
The recent transactions come at a time when crypto whales are demonstrating significant interest in the frog-themed token. This month alone, crypto whales have purchased large amounts of PEPE tokens from exchanges.
On June 8, a wallet associated with venture capital giant Nascent purchased 44.767 billion PEPE from Binance. Notably, PEPE reached a major milestone earlier this month, with its 24-hour trading volume reaching a staggering $41 billion on June 4.
Despite the large volume transactions witnessed by Pepe this month, the token’s price has been falling significantly, down 34.1% month-to-date. Currently, PEPE is trading at $0.00001023, down 11.2% from the previous day and down 16.21% in seven days.
These declines reflect the bearish direction of the entire crypto 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.
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