Dormant Whale Withdraws 2 Trillion PEPE From Binance, Triggers $29M Accumulation Wave

‍In Brief:

A long-inactive PEPE whale withdrew 2.21 trillion tokens worth $29 million from Binance within 24 hours.

The move fueled a 10% price rally, with open interest in PEPE futures jumping past $500 million.

A dormant PEPE whale has re-emerged after nearly two years, withdrawing 2.21 trillion tokens—valued at $29 million—from Binance in just two transactions. The surprise move, reported by blockchain analytics firm Lookonchain, has ignited a fresh surge in interest around the meme coin, sending prices and trading volumes sharply higher.

The whale first moved 1.79 trillion PEPE (worth $22.23M) into a newly activated wallet, followed by another withdrawal of 420 billion PEPE (around $5.39M) the next day. Combined, the transactions reduced Binance’s PEPE reserves by roughly 2%, suggesting a large-scale accumulation strategy and long-term bullish sentiment.

As the tokens were moved into self-custody, analysts interpret this as a shift from short-term speculation to a buy-and-hold position—a potential sign of confidence in PEPE’s future growth.

The market reaction was swift. PEPE surged 10% in 24 hours, trading at $0.00001345, and marking an 87.5% gain over the past month. Derivatives markets also saw heavy action, with $2 million in short liquidations and PEPE futures open interest climbing 15% to over $500 million, a level not seen since January.

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The reactivation of a major whale wallet, coupled with the aggressive token accumulation, has placed PEPE back in the spotlight—cementing its role as one of the most-watched meme coins in the current market cycle.

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