Binance’ssignificant movement of1.28trillion PEPE coins and its impact on the meme coin market amid broader marketturbulence.
Points
- Binanceshuffles1.28trillionPEPEcoinsamidmarketvolatility.
- PEPEbecomesthethird-largestmemecoin,followingDogecoinandShibaInu.
- Whaleactivityandmarketimpact,includingsignificanttransactionsandliquidations.
MajorWalletShuffle
Amidmarket-wideturbulence,Binance has shuffled over1.28trillion PEPE coins as investors race to accumulatetokens.PEPE has become thethird-largestmeme coin in the industry after reaching anall-timehigh earlier thisyear.
Notably,major players who had been inactive for a while have begun engaging with thetoken.Whale tracking agencies highlighted largetransactions,such as the transfer of1,286,733,285,955PEPE tokens from a crypto address dubbed‘Binance28’to‘Binance70.’
WhaleActivityandMarketImpact
A whale identified as‘dimethyltryptamine.eth’resurfaced after ten months of absence to sell10billion PEPE coins for32.73Ether（ETH）,making$112Kinprofit.This whale was an early PEPEbuyer,turning$45Kinto$26.7M（+58.6K%）.
After over10months of inactivity with$PEPE,dimethyltryptamine.ethreturned to sell10B$PEPE($112K)for32.73$ETH~5hrsago.
https://twitter.com/spotonchain/status/1808324320760061979
The large investors andlong-termholders could significantly influence thecoin’sfuture.About78%of current holders are making a profit at the currentprice.
MarketLiquidations
PEPE traders on derivatives markets have suffered more than$3million inliquidations,including$2.71million for long positions and$350,000for shortpositions.Despite a73%increase in derivatives trading volume over24hours,suggesting renewedinterest,PEPE’sprice continues todrop.
At the time ofwriting,PEPE is trading for$0.000009566after a7%drop in the last24hours.The Altcoin has extended its weekly losses by23%as the market faces violentturbulence.Amidst these pricechanges,thecoin’strading volume has surged by44%.
With a market cap of just over$4billion,PEPE has become thethird-largestmemecoin,following Dogecoin（DOGE）and Shiba Inu（SHIB）,which are ranked10thand14th,respectively.
解説
- WhaleInfluence:ThesignificantmovementsbywhalesandmajorplayersinthemarketcandrasticallyimpactthepriceandsentimentaroundmemecoinslikePEPE.Monitoringwhaleactivityisessentialforanticipatingmarketshifts.
- MarketVolatility:Thehighvolatilityinthememecoinmarket,exemplifiedbyPEPE’srecentpricemovementsandliquidations,highlightstherisksandopportunitiespresentintradingtheseassets.
- FutureProspects:Despitethecurrentbearishtrend,theincreasedtradingvolumeandinterestinPEPEsuggestpotentialforfuturerebounds.Investorsshouldkeepaneyeonmarketdynamicsandwhaleactivitiestomakeinformeddecisions.