Major 2.6 Trillion PEPE Token Transfer Leads to Price Dip The recent transfer of 2.6 trillion PEPE tokens from a major cryptocurrency exchange has prompted a 5% price drop, capturing the attention of both investors and analysts. According to Whale Alert, the tokens worth $21,108,992 were moved from the KuCoin crypto exchange to an unknown wallet.
The transfer occurred amidst significant crypto withdrawals from KuCoin and a 20% decline in assets under management as the exchange faced charges from U.S. regulators. The move impacted PEPE's price, which saw a 5% decrease to $0.000007757 in the last 24 hours. This decline comes in the wake of broader market uncertainties, including discussions on potential Fed interest rate cuts and reactions to KuCoin and Coinbase news.
PEPE, which had previously reached an all-time high of $0.00001074, is currently down 28% from that peak.