PEPE Sees Largest Exchange Outflow Since November 2024

PEPE has experienced its largest exchange outflow in nearly two years, according to data from on-chain analytics platform Santiment. The memecoin saw approximately 4.54 trillion tokens leave exchanges in a single day.

This development is notable as it suggests that some holders are reducing the risk of a quick dump by moving their coins off exchanges. However, the broader memecoin market is still under pressure, with declining volumes and shrinking portfolios across the sector.

The PEPE outflow has sparked interest among traders, who are watching to see if this on-chain signal leads to a broader market shift. Some analysts point to meme rotation and weak funding rates as contributing factors to the current market trends.