PEPE Whales Accumulate as Exchange Outflows Reach Nearly 2-Year High

• PEPE exchange outflows reached 4.54 trillion tokens, marking the largest withdrawal since November 2024.
• Top PEPE holders increased their holdings 6.07% over 30 days.
• PEPE gained modestly despite subdued demand and remains far below the 2024 record high.

PepeCoin — PEPE, has flashed a signal that could catch the attention of crypto traders. Around 4.54 trillion tokens recently left exchanges in a major supply shift. Large holders also increased their PEPE positions during the same period. The move stands out because PEPE remains roughly 90% below the previous record high. Meanwhile, broader meme coin demand remains relatively subdued.

PEPE Supply Moves Away From Exchanges

On-chain analytics firm Santiment reported the massive PEPE exchange outflow. Around 4.54 trillion PEPE tokens left trading platforms in one day. The withdrawal marked the largest net exchange outflow since November 14, 2024. Such movements can offer useful clues about investor behavior. When tokens leave exchanges, fewer coins remain available for immediate selling. That can reduce short-term selling pressure across the market.

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