Analyst Links PEPE's 12.33% Drop to 7.77 Trillion-Token Sale

Pepe (PEPE) fell 12.33% as on-chain analyst Ai 姨 linked the decline to a sale of 7.77 trillion tokens from a Binance hot wallet. Ai 姨 attributed the sale to a suspected hacker and said the wallet's entire PEPE balance had been sold.

The tokens were exchanged for 14,049 Ether (ETH), valued at more than $31.9 million. The average sale price was about $0.0000041 per PEPE. The transaction tied a sharp market move to a suspected security incident involving Binance's hot wallet.

A separate PEPE transfer by Sun Ge involved 11.8 trillion tokens moved since Oct. 17, a larger amount than the Binance wallet sale. Those tokens carried an unrealized profit of $4.45 million, down from a high of $18.55 million the previous night. The average transfer price for Sun Ge's tokens was about $0.000004114, close to the $0.0000041 average reported for the wallet sale. The figures show the separate position's unrealized gain narrowed as PEPE's price fell.