PEPE sees 4.54 trillion token exchange outflow, biggest since Nov. 14, 2024
The meme token has traded sideways despite accumulation signals, a growing holder base and an April ETF filing, while analysts and traders remain split between upside potential and liquidity risks.
PEPE logged a 4.54 trillion token net exchange outflow in one day, its largest since Nov. 14, 2024, signaling reduced near-term sell pressure as the token moved mostly sideways for two months and remained about 90% below its December 2024 peak. Earlier Nansen data showed the top 100 PEPE addresses increased holdings 6.07% over 30 days to about 85.97 trillion tokens and Smart Money holdings rose 307% to about 108 billion, reinforcing Santiment's view that supply may be shifting into stronger hands even with muted trader interest, weak funding and support-level tests dominating discussion. PEPE also remains one of Ethereum's largest meme coins by holder count, with 571,613 wallet addresses versus 1,678,653 for Shiba Inu, while Canary Capital's April Form S-1 for a spot PEPE ETF pointed to emerging institutional interest. Crypto analyst Rafaela Rigo projected a target near $0.0000143 from a current level of $0.0000028, but veteran crypto trader Ogle warned that thin liquidity, concentrated ownership and leveraged trading can turn meme coin rallies into steep declines, citing CASHCAT's recent price action.
- exchange outflow: Tokens moving off trading platforms, often seen as reducing the supply immediately available for sale.
- Smart Money: A tracked group of wallets associated with experienced or closely watched traders whose activity can signal positioning shifts.
- spot PEPE ETF: A proposed fund designed to follow PEPE's live market price directly rather than gaining exposure through derivatives.