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PEPE PEPE investors have recently shown eye-catching online actions. Data from online data platform Sanitation shows that 4.54 trillion PEPE tokens have been withdrawn from cryptocurrency exchanges in the past 24 hours. This figure set the largest single-day net outflow record since November 14, 2024.
It is not just the outflow of exchanges that deserves attention. Nansen data shows that in the past 30 days, wallet addresses with the largest holdings have increased their holdings in PEPE. At the same time, the trading price of this Meme coin is still about 90% lower than the high set in December 2024.
Why are PEPE exchange outflows so important?
According to data released by Sanitation, the 4.54 trillion PEPEs withdrawn from the exchange in a single day became one of the largest single-day outflows in the past two years. The on-chain analytics firm pointed out that the reduction in exchange holdings has reduced the number of tokens available for sale, which may ease sudden selling pressures.
Sanitation said in its assessment: "When a lackluster Meme coin flows out of the exchange and investors are not actively chasing the gains, optimistic investors can believe that the supply is shifting to more determined holders before rekindling interest." The company warned that the last time there was an outflow of similar size was during the rebound of Meme coins after the November 2024 U.S. election. However, it is worth noting that this time there was not the same level of speculative interest. PEPE prices have been sideways for about two months without a significant catalyst.
Why is it important?
The decrease in the number of tokens on the exchange does not in itself mean an increase in prices. However, investors are moving assets from exchanges to private wallets, which is seen as one of the indicators on the chain, indicating a weakening willingness to sell in the short term.
Whales continued to increase their holdings in PEPE
Exchange outflows were also supported by actions by large investors. Nansen data shows that the top 100 PEPE wallets have increased their holdings by 6.07% in the past 30 days. As a result, the total balance in this group has increased to approximately 85.97 trillion PEPEs.
In addition, the number of PEPEs held by the investor group classified as "Smart Money" increased by 307% over the same period. Although the group's total balance is approximately 108 billion tokens, far below the holdings of the largest wallet, its growth is still impressive.
Data shows that the supply in circulation is gradually concentrated in the hands of longer-term investors.
What does this mean for PEPE prices?
Despite the positive signals released by online data, the price trend of PEPE is still relatively limited. The Meme coin has gained about 3.4% in the past seven days and about 4.9% in the past 30 days, but has fallen 1.64% in the past 24 hours.
Although on-chain indicators show supply is flowing out of exchanges and large investors are increasing positions, whether this trend translates into continued gains will still depend on risk appetite in the broader Memecoin market. Judging from the current situation, investors do not seem to be adopting speculative buying, but rather following a gradual accumulation strategy.
The content of this article is based on general market data and does not constitute investment advice. It is recommended that you conduct your own research.
