What is the Reason for the Volatility in PEPE Memecoin?

The memecoin, which came to the agenda with conflicts within the PEPE team and price fluctuations, continues to attract attention with the mobility of whale wallets. According to the data, Wintermute Trading, a large market-making company, has carried 8.3 trillion PEPE (worth $ 5.43 million) to central exchanges in the transfers it made today.

Also, the short wallet address belonging to the crypto whale, continues to buy large amounts of PEPE from exchanges. During the day, PEPE with a value of over $ 100,000 was transferred to centralized exchanges.

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Despite this mobility, the token is showing a particularly strong performance today. In the last 24 hours, the value of PEPE has increased by 16% and is currently trading at 0.0000006957 dollars. However, the token was not yet able to reach its previous high.

In August, a few people from the main developer team of PEPE, token, sold a large amount of tokens from multisig wallets on the grounds that they betrayed the project, according to the main team’s statement.

Particularly, the cryptocurrency exchange Binance holds $75 million PEPE tokens on behalf of its customers in cold wallets, accounting for a significant portion of the token with a total market value of $246 million. These whales might provide an answer to what might happen in PEPE in coming days.

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