CandleFocus Pepe Surges 5% as Unknown Wallet Withdraws 4T PEPE From Bybit
2024-09-10
Author: Content Editor
Crypto exchange Bybit saw a large transaction of 4 trillion PEPE, worth roughly $30 million, being moved from a Bybit wallet. The transfer coincided with a market rebound for PEPE, which is up almost 6% in the last 24 hours. Further investigation revealed that the receiving address held 13 trillion PEPE, equivalent to about 3.1% of the memecoin's supply. The transaction was a relocation from Bybit's hot wallet to its cold wallet, a common practice for exchanges for security reasons. PEPE had a strong start to the year but has since been on a downtrend, though analysts are now predicting a 300% rally in the fourth quarter.
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