Whale 0x535 Withdraws $3.14M In PEPE From KuCoin Amidst Onchain Surge

A new crypto whale, identified as 0x535, has made waves in the memecoin market by withdrawing an additional 150 billion PEPE tokens (worth $3.14 million) from KuCoin.

This marks the seventh transaction in the past eight hours, bringing the total PEPE accumulated by this whale to 309.6 billion tokens.

The purchases, completed at an average price of $0.00002082, are estimated to have cost $6.45 million. Aside from this significant acquisition, the whale’s only other activity has been paying 0.085 ETH ($284) in gas fees.

Big $PEPE accumulation!

Someone created a new wallet 13 hours ago and has since withdrawn 309.6B $PEPE ($6.45M) from #KuCoin at an average price of $0.00002082.

Follow @spotonchain and track the whale live at https://t.co/W6LBhGQdkj pic.twitter.com/0y2BRvcUIQ

— Spot On Chain (@spotonchain) November 22, 2024

PEPE has gained significant momentum in recent hours, with its price climbing 12.56% in the past 24 hours.

This upward trajectory aligns with broader market activity, as over $155 million worth of PEPE has flowed from centralized exchanges to onchain wallets this week. This represents the highest outflow among all Ethereum-based tokens.

Over $155M worth of $PEPE moved from CEXs to onchain wallets this week—the highest outflow for any Ethereum token.

Even after hitting ATH last week, onchain accumulation is still going strong.

It only means one thing:

Show's not over yet anon