2,000,000,000,000 PEPE Stuns Major Crypto Exchange Bybit As Price Rises

Meme Coin Frenzy: Massive PEPE Transfer Shakes Crypto Landscape

A recent blockchain tracking report revealed an eye-popping meme coin transaction involving trillions of PEPE tokens moving from the Bybit exchange. This transfer occurred as the popular frog-themed cryptocurrency attempted to rebound from recent price declines.

Whale-Sized PEPE Movement

The Whale Alert platform detected a staggering 2 trillion PEPE tokens (worth approximately $27.8 million) being withdrawn from Bybit to an anonymous wallet. This massive transfer highlights growing whale activity around the meme coin, which has seen a 50% price surge recently.

Market Volatility Continues

PEPE's price action has mirrored Bitcoin's movements, with an 12% Monday gain followed by a 6% drop before recovering 4.44% to $0.00001413. The past 24 hours alone saw 11.75 trillion PEPE change hands, demonstrating intense trading activity.

Between May 21-23, PEPE spiked 23% to $0.00001606 before losing nearly 19% over the next two days, showcasing the token's volatility.

Notable Trader Activity

Trader James Wynn recently made headlines with a 10x leveraged PEPE long position that generated $130,000 in unrealized profits. However, he later closed portions of his PEPE and Bitcoin positions, taking a $4.4 million loss to mitigate liquidation risks.

In related Bitcoin news, Whale Alert reported a new whale entering the market after 1,228 BTC (valued at $133.5 million) moved between anonymous wallets, potentially signaling an OTC purchase.

These high-profile transactions underscore the crypto market's dynamic nature, with meme coins continuing to capture investor attention alongside major assets like Bitcoin.