PEPE Sees Largest Exchange Outflow Since November 2024

The meme-based cryptocurrency PEPE has seen its largest exchange outflow in over two years. According to on-chain data from Santiment, 4.54 trillion PEPE tokens left trading platforms in a single day, the largest net outflow since November 14, 2024. This significant movement of tokens off exchanges occurred without a corresponding spike in price or social volume, sparking market attention.

The event is being interpreted as a deliberate rotation of supply into hands that are less likely to sell immediately. Exchange net flow metrics reflect the difference between tokens deposited to and withdrawn from known exchange wallets. A large net outflow reduces the pool of coins readily available for market orders, lowering the odds of a sudden, deep selloff.

PEPE's price has been stuck in a sideways movement since the post-election gains, bouncing between support levels without a decisive breakout. The current environment makes the outflow more intriguing, as recent market observations have pointed to meme rotation, weak funding rates, and support testing rather than a project-specific catalyst.