PEPE Off Exchanges as Whales and ETF Speculation Rise
$PEPE ranks #45 by market cap per CMC.
Further, 30-day performance suggests the rally isn't just a one-day spike. 24-hour trading volume amounts to around 24.2% of market cap, which is good liquidity for a memecoin.
Additionally, Exchange balances fell by about 1.45 trillion coins, while the top wallet balance rose by about 3.54 trillion PEPE.
The move shifts supply out of readily tradable exchanges and could reduce short-term selling pressure.
In a single day recently, seven transfers of more than $1 million worth of PEPE occurred, the highest since March 16. PEPE has one of the largest holder counts on Ethereum, with around 571,613 wallets.
Canary Capital also submitted a proposal for a spot PEPE ETF to the SEC.