- A major PEPE whale recently deposited $11.65 million worth of tokens into Binance, signaling potential large-holder selling and increased downside risk.
- Combined with heavy long liquidations and critical support levels, this move could warn of a looming price drop unless bulls regain control soon.
The recent massive $11.65 million PEPE whale deposit into Binance has sent ripples through the market. Traders are asking: Is this a warning sign of more downside ahead for PEPE? Let’s break down what’s happening behind the scenes and why this move matters.
Whale Moves Signal Early-Stage Distribution
A major PEPE whale deposited 1 trillion tokens (worth $11.65M) into Binance after holding for 21 days. Earlier, the same whale withdrew 2.2 trillion PEPE (~$27.68M) but still holds 1.2 trillion tokens valued at about $14 million. This move realized a $1.95 million loss, which often signals the start of exit phases or trend reversals, not just profit-taking.
This behavior hints large holders might be preparing to offload more tokens if the price weakens further — a red flag for traders watching the whale activity closely.
Also read: Uber’s Stablecoin Move: Boosting Real-World Crypto Adoption and DeFi Integration
Netflow and Long Liquidations Paint a Bearish Picture
On-chain data from IntoTheBlock reveals a massive +1144.65% spike in seven-day netflow, yet the 30-day netflow remains deeply negative at -1968.60%. This suggests the recent inflows to exchanges could be a short-term anomaly in a broader trend of token exits.
Meanwhile, PEPE longs are getting hammered. Over $137K in long liquidations have occurred recently versus just $4K in shorts, showing bulls are overleveraged and vulnerable. The heavy selling pressure on longs, combined with stagnant funding rates, indicates trader indecision and a possible bearish tilt.
The Critical Pennant Flag and $0.00001114 Battleground
PEPE is currently trading inside a pennant flag formation near $0.00001147, with key support at $0.00000970. A breakout above $0.00001236 could trigger gains, but a breakdown below support may lead to accelerated selling.
The $0.00001114 level stands out as a critical battleground—loaded with high-leverage longs (25x and 50x). Bulls must break above this to ignite a rally; failure here could flush weak longs and strengthen bearish momentum.
What’s Next for PEPE?
This whale’s $11.65M deposit, combined with heavy long liquidations and mixed netflow signals, leans bearish. PEPE clings to vital support, but if it breaks below $0.00000966, a sharper downside move could be triggered.
Traders should watch closely: This whale activity may be an early warning of more pain unless bulls step up with conviction and volume soon.
