According to eyeonchain, the PEPE development team recently deposited 10 billion PEPE tokens, valued at $81.2K, into Binance from their wallet, 0x310.
This transaction occurred around 22 hours ago and adds to a series of large deposits made by the team throughout 2024.
In total, the PEPE development team has deposited 157.06 billion PEPE tokens (worth approximately $1.88 million) into both Binance and Crypto.com this year, with an average price of $0.000011976 per token. Notably, these large deposits have often been followed by a decline in PEPE’s price, suggesting that these movements may be contributing to market fluctuations.
#PEPE Development Team Deposits 10B $PEPE ($81.2K) to Binance
Around 22 hours ago, the PEPE development team deposited 10 billion PEPE (worth $81.2K) to Binance from their wallet 0x310:Address: 0x310039f661e9fbd3518d2820221ed135fc99cbdd pic.twitter.com/DaZ9dUvz0N
— EyeOnChain (@EyeOnChain) September 21, 2024
Despite these continuous deposits, the development team’s wallet still holds a significant 2.43 trillion PEPE tokens, currently valued at $19.69 million. The presence of this large amount of PEPE in their wallet raises concerns that future sales could further impact the token’s price, as any substantial sell-off would likely influence market dynamics.
A Whale Wallets Opens A Position Of 160 Billion PEPE Tokens
In other developments, wallet address 0x1bB…D5556 opened a position of 160.4 billion PEPE tokens, worth $1.31 million, just three hours ago. The purchase price was around $0.00000819 per token. This same address previously attempted to trade PEPE a month ago, buying at $0.00000802 and liquidating at $0.00000792, resulting in a $17,000 loss.
地址 0x1bB…D5556 三小时前建仓 1604 亿枚 PEPE，价值 131 万美金，买入价格约 $0.00000819 🐸
该地址曾在一个月前也尝试做过 $PEPE 波段，$0.00000802 买入 $0.00000792 清仓，亏损 1.7 万美金
钱包地址 https://t.co/oeNvWRjJVl pic.twitter.com/ruTLciGuIv
— Ai 姨 (@ai_9684xtpa) September 21, 2024
As the PEPE development team continues to make sizable deposits and large individual positions are opened by investors, the PEPE market remains highly volatile. Traders and holders alike will need to stay alert to these developments, as future transactions could have significant effects on PEPE’s price action.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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Source: https://nulltx.com/pepe-development-team-deposits-10-billion-pepe-to-binance-amid-ongoing-sales-in-2024/