On Monday, a Pepe coin whale sold over 1 trillion $PEPE  to the Binance crypto exchange. Recent data on the blockchain has raised concerns about the bearish period of the frog meme coin.

A recent report on Whale Alert revealed that a Pepe Coin holder moved 1.27 trillion coins worth $11.51 million to Binance on October 28. The transfer reportedly fueled negative market sentiments around the frog-themed coin.

Pepe Coin Whale transfers PEPE to crypto exchange, Binance

CoinMarketCap data revealed that Pepe Coin experienced an over 4% decline in the 24 hours after the transfer. Weekly charts also revealed that the coin recorded a 13% decline in the past week. 

As of this writing, the meme coin is trading at $0.058634, with a  $0.059257 peak in the last 24 hours. 

🚨 1,279,959,528,068 #PEPE (11,510,036 USD) transferred from unknown wallet to #Binancehttps://t.co/qlK9P64wo4

— Whale Alert (@whale_alert) October 28, 2024