After over two years of inactivity, a long-dormant crypto whale has re-emerged—creating a new wallet and withdrawing a massive $22.23 million worth of PEPE tokens from Binance, according to on-chain activity.

The whale’s move involved the withdrawal of 1.79 trillion PEPE tokens from Binance, as confirmed by blockchain data trackers and the well-known on-chain analytics account LookonChain. The large-scale transaction has sparked speculation about renewed whale interest in PEPE.

Just four days earlier, PEPE made headlines by surpassing Dogecoin (DOGE) to become the most traded meme coin, recording an impressive $4 billion in trading volume, NewsBTC reports.

However, despite these bullish developments, PEPE’s price has failed to hold its ground. The token has dropped 4.29% in the last 24 hours, now trading at $0.00001205 as market sentiment wavers.

PEPE isn’t alone in facing downward pressure. Other meme coins such as BONK, FLOKI, and SHIB have also seen losses, mirroring the broader correction currently sweeping through the altcoin and meme coin sectors, according to UToday.

Despite the recent price dip, whale accumulation of PEPE continues to intensify. On May 14, 2025, a well-known Ethereum swing-trading whale purchased 141.5 billion PEPE tokens at an average price of $0.00001453, totaling approximately $2.05 million, according to Blockchain News. This significant move highlights renewed interest in legacy meme coins and suggests active trading opportunities as both old altcoins and meme tokens see increased volume.