PEPE tokens see largest exchange outflow since November 2024

PEPE tokens experienced a significant supply shift as approximately 4.54 trillion tokens were withdrawn from exchanges in a single day. According to data from on-chain analytics firm Santiment, this represents the largest net exchange outflow for the token since November 2024.

Large holders, often referred to as whales, have also been increasing their positions, with top holders growing their PEPE holdings by 6.07% over a 30-day period. While such outflows can reduce immediate selling pressure by removing coins from trading platforms, the token remains roughly 90% below its December 2024 record high. Despite these movements, the broader demand for meme coins has remained relatively subdued, and the token has recently traded sideways.