PEPE Falls After Binance Hacker Sells $31.66M in Tokens
PEPE fell toward $0.0000049 on October 30 after a wallet linked to the Binance hack reportedly sold 7.77 trillion tokens worth about $31.66 million. PEPE had touched an intraday low of $0.0000044 before rebounding. A prominent early investor reportedly bought 45.08 billion PEPE, worth roughly $206,500, but that purchase was small compared with the hacker’s sale.
Derivatives data showed futures volume up 59.84% to nearly $1.52 billion, while open interest fell 10.09% to $369.85 million. The combination points to heavier trading alongside a reduction in outstanding leveraged positions.
Traders are watching support near $0.0000045 and resistance around $0.0000050–$0.0000052. A sustained breakout could put the $0.0000055–$0.0000057 area in view, while a drop below support may expose the $0.00000435 region. The reported sale added pressure during a broader market decline, though available data does not establish how much of PEPE’s price move it caused.
Bearish
The immediate bias is bearish for PEPE. The reported sale of 7.77 trillion tokens, worth about $31.66 million, creates a substantial source of potential sell pressure and adds uncertainty because it is linked to a major exchange security incident. The price’s fall toward $0.0000049 and its intraday low of $0.0000044 reflect that pressure, although the article does not prove the sale alone caused the move.
The futures data also signals elevated short-term risk: volume rose sharply while open interest declined. This can indicate position closing or deleveraging during volatility, rather than clear accumulation. Liquidations were roughly balanced between longs and shorts, so the figures do not establish a decisive directional consensus. The reported $206,500 whale purchase offers a counterpoint, but it is small relative to the hacker’s sale and does not by itself confirm durable demand.
In the short term, traders may watch $0.0000045 as support and $0.0000050–$0.0000052 as resistance. A break below support could prompt further selling, while a sustained move above resistance and a successful retest could improve momentum. Similar large-holder or exploit-linked sell-offs in crypto have often driven sharp, temporary volatility; prices can recover if broader market conditions stabilize and selling is absorbed, but that outcome is not guaranteed. Over the longer term, PEPE’s direction will depend on whether demand can absorb the supply, broader risk appetite, and developments around the Binance breach. The incident may also weigh on sentiment toward riskier meme coins, while the reported exchange impact and ongoing wallet monitoring could keep volatility elevated.