Whale Withdraws 483K PENDLE, Total Holdings Hit 4.07M Tokens
A major whale or institution has withdrawn an additional 483,000 PENDLE tokens (~$2.2M) from Binance in the past hour, continuing a steady accumulation strategy that began in late March. The whale’s six addresses now hold a combined 4.071 million PENDLE (~$18.56M) at an average cost of $3.16, representing an unrealized gain of $5.7M (+44%). This persistent PENDLE buying and Binance withdrawal suggests strong whale confidence and reduced exchange supply. Traders should watch for potential price support and increased volatility as the whale’s hoarding could drive bullish momentum for PENDLE in both the short and long term.
Bullish
The whale’s continued PENDLE withdrawals from Binance signal a reduction in token supply on exchanges and indicate strong confidence from a significant holder. Historically, large-scale accumulation by whales has preceded price rallies in alternative tokens, as reduced sell pressure and increased buying interest drive up demand. The whale’s unrealized profit of 44% further incentivizes long-term holding, limiting available liquidity. In the short term, this activity may trigger volatility as traders react to on-chain whale moves. Over the long term, persistent accumulation could sustain upward price momentum for PENDLE, making the overall outlook bullish.