The 0xScope team has recorded an influx of 3 trillion PEPE mem tokens worth $46.37 million to centralized exchanges in the past 24 hours. Experts have warned about the risks of a coin dump.
In the past 24 hours, a large amount of $PEPE has been deposited into exchanges:
33T $PEPE worth $46.37M, with a net deposit of $22.94M from 1,176 addresses.
Beware of MEME coin drop risks pic.twitter.com/443wqMCTTJ
— 0xScope ( . ) (@ScopeProtocol) May 12, 2023
According to analysts, this amount includes $22.94 million in “net” deposits sent from 1,176 addresses.
The main part of the funds falls on the Binance crypto exchange – about 67 trillion PEPE are blocked on it. In total for CEX deposited 28% of the total issue of the token, and on DEX less than 0.01%.
The ratio of sales and purchases of the coin are approximately equal. However, the volume of deposits still exceeds withdrawals – 61% versus 38%, respectively.
Over the past day, the price of PEPE has fallen by 22%. The rate went down from May 5, on the same day the listing of the coin took place on the leading centralized exchanges. In less than a week, the meme token dropped from peaks of $0.00000420 to $0.00000128, almost 40%.
Recall that at the end of April, the PEPE token grew tenfold, turning some coin holders into millionaires.
In May, an unknown person paid a $120,000 commission to buy $156,000 worth of the FOUR meme-cryptocurrency. The investor managed to realize a profit of $240,000, according to community estimates.
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