A massive transfer of 2 trillion PEPE tokens from the Bybit exchange to an unknown wallet has drawn market attention, coinciding with a fresh price surge for the popular meme coin. The withdrawal, flagged by blockchain tracker Whale Alert, was valued at approximately $27.8 million at the time of the transaction.
After the move, PEPE’s price increased by over 4 percent and rose to $0.00001413 per coin. This followed a volatile run in which the meme token gained after suddenly falling 19 percent from $0.00001606 on May 21 and 23.
Whale movements have surged in the past 24 hours, with 11.75 trillion PEPE changing hands across numerous wallets, reflecting rising curiosity among big holders. With Bybit’s massive withdrawal of 2 trillion tokens, many are suggesting that whales are still collecting PEPE as it rebounds.
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Strategic Whale Moves Reflect Confidence in PEPE’s Short-Term Potential
According to on-chain data shared by @lookonchain, a trader identified as James Wynn recently went long on PEPE using 10x leverage. At one point, the position showed an unrealized profit of $130,000.
However, on the following day, Wynn partially closed his long positions in both PEPE and Bitcoin, recording a $4.4 million loss to reduce his exposure and risk of liquidation.
PEPE’s price has moved with the overall market, particularly with Bitcoin. The latest price movement suggests that investor confidence is returning, possibly fueled by expectations of another upward swing supported by whale accumulation.
The departure of 2 trillion tokens from Bybit usually means investors intend to hold for a long time or do not intend to sell soon. This move from a whale coincides with PEPE working to settle its recent price swings.
Driven by the 2 trillion PEPE drop, the current rally gains momentum as whales make strong moves and the market watches closely for signs of emerging trends.
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