Whales Turn Bullish on PEPE as Price Falls, Move 1.7996 Trillion PEPE Worth $22.35 Million from Exchanges

Despite Pepe (PEPE) , a major meme coin, is facing a tough week, the market is seeing resurgence of whale interest. Today, May, 17, 2025, crypto analyst the Data Nerd shared a data showing that whales are buying Pepe as the best investment asset, having pumped in millions of dollars’ worth of PEPE today.

1.7996 trillion PEPE withdrawn from exchanges

According to the data reported on X today, a new wallet (managed by a whale) withdrew a whopping 1.79 trillion PEPE tokens worth $22.35 million from Binance. A few hours earlier today, another whale withdrew 96.9 billion PEPE coins worth $1.28 million from KuCoin.

These withdrawals from exchanges seem to suggest a renewed token accumulation, which is set to build a purchasing frenzy and ignite greater PEPE’s upward movement.

Furthermore, this withdrawals suggest an ideal time to accumulate the asset. Currently, the asset is in a consolidation mood. That explains why whales are capitalizing on this market dip to acquire huge amounts of tokens. With time, a sustained accumulation could decrease selling pressure.

Long-term holders remain bullish

PEPE’s value is currently standing at $0.00001238, down 8.2% from yesterday. Also, during this duration, its trading volume declined by 36.60%, indicating decreased user interest in the market. Furthermore, the asset has been down 5.5% in the past week, meaning selling pressure overpowers buyers.

PEPE had been up 69.2% over the past month. Due to this recent rise, most traders are currently recouping profits from their holdings, an event that is causing the current price drop.

Despite the heightened selling activity among short-term traders, long-term holders appear to be capitalizing on the price decrease. On-chain data (as indicated above) shows renewed PEPE accumulation by buyers who are seeking to hold the token for long term. Today alone, exchanges experienced an outflow of more than $23.63 million worth of PEPE coins, showing that investors are transferring their holdings from exchanges in anticipation of future gains.

This accumulation trend is an indicator of confidence in PEPE’s long-term capability, even during times of increased price volatility. This development is interesting as short-term holders appear concentrated on immediate price movement and profit-taking. On the other hand, long-term holders view PEPE’s current price fall as an opportunity to buy the token at a discount, repositioning themselves for potential returns when market conditions improve.