A massive transfer of over 7 trillion PEPE tokens has shaken the crypto space, aligning with a 44% surge in the meme coin’s price within 24 hours. Blockchain tracker Whale Alert reported that 7.14 trillion PEPE, valued at nearly $78.8 million, was shifted between unknown wallets.
The origin and destination of the tokens remain unclear, but the scale of the transaction has raised eyebrows. Speculators suggest it could involve accumulation, wallet reshuffling, or an over-the-counter deal outside public exchanges.
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PEPE’s price started going up on May 6, and it surged dramatically from $0.00000759. By early Friday, it had removed a zero from its value and was at $0.00001397.
PEPE was up 44% to $0.00001328 and 52% over the past week at the time of writing. If this trend continues, it will be the fourth day in a row that the token has gained value.
Crypto Market Rally Adds Fuel to PEPE’s Rise
The meme coin’s surge occurred during a broader crypto market upswing led by Bitcoin’s jump past $104,000. According to CoinGlass, this triggered the liquidation of $837 million in short positions, the largest in over three years.
PEPE’s trading volume spiked 368% in the past 24 hours, hitting $3.57 billion based on CoinMarketCap data. The increased activity signals strong buying interest and heightened trader engagement.
Whale Transfer Sparks Market Speculation
The timing of the whale move, shortly before the price rally, has led many to link it directly to PEPE’s sudden breakout. The mystery grows as no wallet is tied to any known exchange.
Big movements of tokens tend to cause volatility, and here, momentum was turning bullish at once. The current PEPE streak appears progressive to traders; the whale activity may then indicate continued gains.
With its price skyrocketing and a massive whale move in the headlines, PEPE is becoming one of the most watched tokens on the market. Traders will keenly watch its next moves against increasing volume and market upheavals.
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