{"id":606856,"date":"2024-05-07T16:00:02","date_gmt":"2024-05-07T16:00:02","guid":{"rendered":"https:\/\/uniquehot.com\/?p=606856"},"modified":"2024-05-07T11:23:45","modified_gmt":"2024-05-07T11:23:45","slug":"pepe-whale-10-5-million-transfer-destination","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/meme-coins\/pepe-whale-10-5-million-transfer-destination\/","title":{"rendered":"PEPE Whales Move $21 Million Worth Of Coins \u2013\u00a0Here Are The Destinations"},"content":{"rendered":"

On-chain data shows PEPE whales have moved large amounts of the memecoin during the past day. Here’s where these tokens have been heading.<\/p>\n

PEPE Whales Have Been Active On The Network Today<\/h2>\n

According to data from the cryptocurrency transaction tracker service Whale Alert<\/a>, two large PEPE transactions have occurred in the space of a few hours during the past day. Both of these moves are of a scale that’s typically associated to the whales<\/a>, humongous entities that can carry some influence in the market thanks to their ability to make such large transfers.<\/p>\n

Related Reading: Bitcoin To Reach Escape Velocity? Analyst Makes The Case<\/a><\/div>\n

Because of their position on the network, their moves can be worth watching, as they may end up reflecting on the price of the cryptocurrency. As for how exactly the asset may be impacted by the transfers of these investors can come down to what they intended to achieve with the moves.<\/p>\n

It can be hard to say about any exact motive, but the details of the transactions on the blockhain can sometimes provide hints about the context surrounding it.<\/p>\n

Below are the details of the first PEPE whale transfer from the past day:<\/p>\n

\"PEPE<\/p>\n

Looks like this massive transfer on the Ethereum blockchain took a fee of just $1.14 to go through | Source: Whale Alert<\/a><\/pre>\n

As is visible, the sending address in the case of this PEPE whale transaction was an unknown wallet, meaning that it was unattached to any known centralized platform like an exchange. Such wallets are usually the investors’ personal, self-custodial addresses.<\/p>\n

The receiving address, on the other hand, does have a platform affiliated to it: the cryptocurrency exchange Binance<\/a>. Thus, it would appear that the whale moved 1,238,332,920,144 PEPE (worth over $10.5 million at the time the transfer went through) from their personal wallet to the custody of the exchange.<\/p>\n

Transfers of this type are known as exchange inflows. The investors make exchange inflows whenever they want to make use of one of the services that these platforms provide, which can include selling. As such, exchange inflows can end up being bearish for the price.<\/p>\n

If the whale, in the current case, indeed made the deposit to sell, then PEPE could naturally be negatively impacted, given the large scale of the transaction. Fortunately for the investors of the meme coin, though, the second transaction from today is actually the exact opposite of this transfer; it’s an exchange outflow<\/a>.<\/p>\n

\"PEPE<\/p>\n

The second large PEPE transaction that took place on the network in the past day | Source: Whale Alert<\/a><\/pre>\n

As displayed above, this PEPE whale moved coins from Binance to an unknown wallet through this transaction. Investors generally transfer to personal addresses when they plan to hold in the long term, as it’s safer to do so outside the custody of central entities. Thus, it’s possible this whale plans to HODL these coins.<\/p>\n

Interestingly, the amount involved in this move, 1,241,850,000,000 PEPE ($10.5 million), is quite similar to the exchange inflow. Given that the same exchange is also involved in both, it’s possible that the same whale may in fact be responsible for the both of them.<\/p>\n

Related Reading: Bitcoin Relative Open Interest Lowest Since Feb, Analyst Says \u201cHard To Be Bearish\u201d<\/a><\/div>\n

Though, since the addresses don’t quite match, it’s still uncertain. Either way, the fact that an equal-sized exchange outflow has occurred mere hours after should be able to balance out any bearish effects arising out of the inflow, at least in theory.<\/p>\n

PEPE Price<\/h2>\n

At the time of writing, PEPE is floating around the $0.000008445479 mark, up more than 21% over the past week.<\/span><\/p>\n

\"PEPE<\/p>\n

The price of the asset appears to have gone up over the last few days | Source: PEPEUSD on TradingView<\/a><\/pre>\n
Featured image from Abhi Verma on Unsplash.com, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"

On-chain data shows PEPE whales have moved large amounts of the memecoin during the past day. Here’s where these tokens have been heading. PEPE Whales Have Been Active On The Network Today According to data from the cryptocurrency transaction tracker service Whale Alert, two large PEPE transactions have occurred in the space of a few hours during the past day. Both of these moves are of a scale that’s typically associated to the whales, humongous entities that can carry some influence in the market thanks to their ability to make such large transfers. Related Reading: Bitcoin To Reach Escape Velocity? Analyst Makes The Case Because of their position on the network, their moves can be worth watching, as they may end up reflecting on the price of the cryptocurrency. As for how exactly the asset may be impacted by the transfers of these investors can come down to what they intended to achieve with the moves. It can be hard to say about any exact motive, but the details of the transactions on the blockhain can sometimes provide hints about the context surrounding it. Below are the details of the first PEPE whale transfer from the past day: Looks like this massive transfer on the Ethereum blockchain took a fee of just $1.14 to go through | Source: Whale Alert As is visible, the sending address in the case of this PEPE whale transaction was an unknown wallet, meaning that it was unattached to any known centralized platform like an exchange. Such wallets are usually the investors’ personal, self-custodial addresses. The receiving address, on the other hand, does have a platform affiliated to it: the cryptocurrency exchange Binance. Thus, it would appear that the whale moved 1,238,332,920,144 PEPE (worth over $10.5 million at the time the transfer went through) from their personal wallet to the custody of the exchange. Transfers of this type are known as exchange inflows. The investors make exchange inflows whenever they want to make use of one of the services that these platforms provide, which can include selling. As such, exchange inflows can end up being bearish for the price. If the whale, in the current case, indeed made the deposit to sell, then PEPE could naturally be negatively impacted, given the large scale of the transaction. Fortunately for the investors of the meme coin, though, the second transaction from today is actually the exact opposite of this transfer; it’s an exchange outflow. The second large PEPE transaction that took place on the network in the past day | Source: Whale Alert As displayed above, this PEPE whale moved coins from Binance to an unknown wallet through this transaction. Investors generally transfer to personal addresses when they plan to hold in the long term, as it’s safer to do so outside the custody of central entities. Thus, it’s possible this whale plans to HODL these coins. Interestingly, the amount involved in this move, 1,241,850,000,000 PEPE ($10.5 million), is quite similar to the exchange inflow. Given that the same exchange is also involved in both, it’s possible that the same whale may in fact be responsible for the both of them. Related Reading: Bitcoin Relative Open Interest Lowest Since Feb, Analyst Says \u201cHard To Be Bearish\u201d Though, since the addresses don’t quite match, it’s still uncertain. Either way, the fact that an equal-sized exchange outflow has occurred mere hours after should be able to balance out any bearish effects arising out of the inflow, at least in theory. PEPE Price At the time of writing, PEPE is floating around the $0.000008445479 mark, up more than 21% over the past week. The price of the asset appears to have gone up over the last few days | Source: PEPEUSD on TradingView Featured image from Abhi Verma on Unsplash.com, chart from TradingView.com<\/p>\n","protected":false},"author":542,"featured_media":606880,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[91895],"tags":[10768,88145,92232,91149,88629,92233,88190],"class_list":["post-606856","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-meme-coins","tag-binance","tag-pepe","tag-pepe-exchange-inflow","tag-pepe-memecoin","tag-pepe-whale","tag-pepe-whale-transaction","tag-pepeusd"],"acf":[],"yoast_head":"\nPEPE Whales Move $21 Million Worth Of Coins \u2013\u00a0Here Are The Destinations<\/title>\n<meta name=\"description\" content=\"On-chain data shows PEPE whales have moved large amounts of the memecoin during the past day. 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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor\u2019s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions. Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true. Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money. Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn\u2019t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs. Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. 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