Whale Transfers 1 Trillion PEPE to Binance, Fueling Sell-Off Fears

A mysterious whale has transferred 1 trillion PEPE to Binance, sparking concerns that it may be in sell mode.

The transfer occurred recently and comes as PEPE's price rose 4% today to $0.00001247, despite the wider crypto market remaining stagnant.

Over the past week, PEPE has gained 7%, but its value has fallen by 5% over two weeks and 25% in a month.

Despite these losses, the Ethereum-based meme coin still retains a 700% annual gain.

The transfer of 1 trillion PEPE to Binance is not an isolated incident, as another whale sent 700 billion PEPE ($7.8 million) to the exchange yesterday.

This has led some to speculate that whales may be in sell mode, which could lead to short-term price pressure for PEPE.