Massive Exit: 4.54 Trillion PEPE Tokens Leave Exchanges in Single Day

PEPE's supply on exchanges has taken a massive hit, recording its largest daily outflow since November 14, 2024. The meme coin saw a net exchange outflow of 4.54 trillion tokens in a single day.

This significant reduction in supply means there is less immediate selling pressure, which could be beneficial for the token's price. According to Santiment, PEPE has traded mostly sideways over the past two months, with recent market commentary focusing on meme coin rotation and weak funding rather than any major project-specific catalysts.

The analytics firm notes that when a relatively quiet meme coin sees tokens leave exchanges while trader interest remains muted, bullish holders may view it as supply moving into stronger hands before attention returns. PEPE continues to rank among Ethereum's largest meme coins by holder count, with 571,613 wallet addresses currently holding the token.

Institutional interest has also emerged, with Canary Capital filing a Form S-1 with the US Securities and Exchange Commission to launch a spot ETF linked to the asset in April. The proposed fund would track the token's live market price, but it acknowledges that PEPE's market value is primarily driven by cultural relevance and online community sentiment.

Crypto analyst Rafaela Rigo has projected that PEPE could deliver a 3x to 5x return in the next bull cycle, with a target near $0.0000143, representing a gain of about 400% from its current level of $0.0000028.