Recently, major $PEPE holder Flow Traders transferred 520 billion $PEPE tokens—worth approximately $4.73 million—from address 0x01c…1980e after a five-month hold.

This receiving address has shown frequent $PEPE trading activity over the past seven months, with its latest transaction occurring two weeks ago during a peak in $PEPE’s price.

Currently, the transferred tokens remain unmoved and have not been sent to any exchange, leaving their future movement uncertain.

Meanwhile, the meme coin market felt the effects of a massive $PEPE whale’s activity. This large investor recently offloaded over 1 trillion $PEPE tokens on Binance, a sale valued at around $8.7 million. This liquidation drove $PEPE’s price down by 4% over the past 24 hours, adding to a weekly decline of 14%.

Memecoin $PEPE Holds Major Ground Despite Recent Volatility 

As the broader crypto market undergoes shifts, the meme coin sector has been no exception, with the category’s total value dipping to $62.2 billion.

Despite recent turbulence, $PEPE holds a firm place in the top 30 cryptocurrencies, with a current market cap of $3.6 billion.

However, ongoing market conditions suggest that $PEPE may continue to experience increased volatility.

Investors are keeping a close watch on further whale movements and market signals in the meme coin space, as large trades have proven to influence token values significantly. For now, the future of $PEPE’s price remains unpredictable, with broader market pressures and substantial whale activity contributing to a potentially volatile outlook.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

Follow us on Twitter @themerklehash to stay updated with the latest Crypto, NFT, AI, Cybersecurity, and Metaverse news!