Meme Coin PEPE Sees Largest Exchange Outflow Since November
A massive drop in PEPE exchange balances has left many wondering what's next for the meme coin. According to Santiment, PEPE recorded a net exchange outflow of 4.54 trillion tokens in a single day, its largest daily outflow since November 14, 2024.
This significant reduction in exchange holdings could be seen as bullish by holders who believe that supply is moving into stronger hands. Despite muted trader interest, 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.
With 571,613 wallet addresses currently holding the token, PEPE ranks among Ethereum's largest meme coins by holder count. It trails just behind Shiba Inu, which has 1,678,653 unique wallet addresses.