Enormous crypto whale flushes 600 billion PEPE coins to Binance, losing over $3.5 million in the process.
The crypto market’s drastic ups & downs over the past few weeks was enough for some crypto whales, selling off their meme tokens at a multi-million dollar loss. In one of the latest instances, a Binance whale has bid adieu to their last 600 billion PEPE tokens, worth over $6.04 million at stamped transaction time.
Whale Loses Belief In PEPE, Takes Up $3.5M Deficit
Just last month, this cryptocurrency whale withdrew a 3.5x larger amount from the Binance exchange, enlarging their self-custodial crypto wallet by $27.65 million worth of PEPE tokens. However, it took three batches of sell-offs on June 8, 13 & 18 to deposit it all back into Binance.
The 2.2T PEPE token sell-off came amidst a 21.1% monthly downturn for the frog-decorated meme currency, even though PEPE’s price had a pretty solid bull run in the second half of May, topping $0.00001596 for a new quarterly high. Naturally, the recent pullback raises the question if other major crypto players, popularly referred to as whales, also share the same disbelief.
Key elements in assessing crypto whale behavior, such as the Chaikin Money Flow (CMF) index, dwelled at neutral territory since Tuesday. Meanwhile, the trading volume on Spot markets kept at a hefty $838 million, trailing Dogecoin (DOGE) by less than $200 million.
Is PEPE’s Market Value Undervalued Or Overpriced?
On Derivatives, the real-time liquidation data portrays a similar story, as the $4M liquidations are equally balanced between long & short plays on PEPE’s price. Besides, the stats from CoinGlass also highlight a massive PEPE bull wipe-out on July 17, 2025. Luckily, PEPE coin bounced off the lowest-tier Bollinger Band (BOLL) days after the mass liquidation occurred.
Additionally, the Stochastic Relative Strength Index (StochRSI) has been displaying single digits since June 17, 2025, which constitutes an under-priced condition on the popular frog-themed meme coin. However, for a proper bullish breakout PEPE coin would have to leapfrog past the red-label $0.00001309 resistance and the mid-level Bollinger Band, an area unclaimed since last week.
On The Flipside
Why This Matters
Naturally, market moves by large players tend to impact cryptocurrency prices. Sell-offs of such magnitude could be a personal decision, as well as an implication of a broader crypto market trend.
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