The crypto marketโs drastic ups & downs over the past few weeks was enough for some crypto whales, selling off their meme tokens at a multi-million dollar loss. In one of the latest instances, a Binance whale has bid adieu to their last 600 billion PEPE tokens, worth over $6.04 million at stamped transaction time.
Whale Loses Belief In PEPE, Takes Up $3.5M Deficit
Just last month, this cryptocurrency whale withdrew a 3.5x larger amount from the Binance exchange, enlarging their self-custodial crypto wallet by $27.65 million worth of PEPE tokens. However, it took three batches of sell-offs on June 8, 13 & 18 to deposit it all back into Binance.
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The 2.2T PEPE token sell-off came amidst a 21.1% monthly downturn for the frog-decorated meme currency, even though PEPEโs price had a pretty solid bull run in the second half of May, topping $0.00001596 for a new quarterly high. Naturally, the recent pullback raises the question if other major crypto players, popularly referred to as whales, also share the same disbelief.
Key elements in assessing crypto whale behavior, such as the Chaikin Money Flow (CMF) index, dwelled at neutral territory since Tuesday. Meanwhile, the trading volume on Spot markets kept at a hefty $838 million, trailing Dogecoin (DOGE) by less than $200 million.
Is PEPEโs Market Value Undervalued Or Overpriced?
On Derivatives, the real-time liquidation data portrays a similar story, as the $4M liquidations are equally balanced between long & short plays on PEPEโs price. Besides, the stats from CoinGlass also highlight a massive PEPE bull wipe-out on July 17, 2025. Luckily, PEPE coin bounced off the lowest-tier Bollinger Band (BOLL) days after the mass liquidation occurred.
Additionally, the Stochastic Relative Strength Index (StochRSI) has been displaying single digits since June 17, 2025, which constitutes an under-priced condition on the popular frog-themed meme coin. However, for a proper bullish breakout PEPE coin would have to leapfrog past the red-label $0.00001309 resistance and the mid-level Bollinger Band, an area unclaimed since last week.
On The Flipside
- In spite of the erratic PEPE price performance, Pepe Token is among the most consistent by trading volume in the meme coin section.
- Close to $5 billion, this caecilian meme coin sports a larger market cap than popular altcoins like Pi, Aave, Bittensor (TAO) & Aptos (APT).
Why This Matters
Naturally, market moves by large players tend to impact cryptocurrency prices. Sell-offs of such magnitude could be a personal decision, as well as an implication of a broader crypto market trend.
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People Also Ask:
A whale (wallet โ0x6ea4โ) sent 2.2T PEPE to Binance in three batches (June 8, 13, 18), including 600B worth $6.04M. They bought at $27.64M but sold at a $3.5M loss.
Transfers to exchanges often signal selling. The whale may have reacted to PEPEโs 21% weekly drop or accepted losses, showing a lack of โdiamond handsโ confidence.
PEPE lost 21% in a week, shedding $1.3B in market cap. Some whales bought 531B tokens for $5.5M, and analysts see a possible 56% rise, but meme coins are highly volatile.
Meme coins are risky, as shown by the whaleโs loss. Only invest what you can lose, research thoroughly, and start small to avoid heavy losses in the volatile market.
Use CoinMarketCap or Binance Academy for basics. Track whale moves on Lookonchain, but avoid unverified social media hype. Secure funds in a hardware wallet.
