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PEPE is preparing for a breakthrough: 17 trillion coins have left exchanges.
The price of PEPE is rising again, having increased by nearly 57% over the past month. The crypto market as a whole has slowed down over the last 24 hours, but PEPE remains one of the few coins trading close to a significant breakout level.
The meme coin is still 51% below its all-time high. This maintains the potential for further growth if market momentum continues.
Large outflows from exchanges indicate high trust.
Since July 16, nearly 17.9 trillion PEPE coins have left exchanges, reflecting a sustained weekly trend. This typically indicates that holders are transferring their assets to private wallets. When more coins leave trading platforms than come in, it usually suggests that fewer traders are preparing to sell. Such a signal is bullish, as it reduces price pressure in the short term.
Interestingly, the outflows of coins continue despite a price increase of more than 12% over the same period. This may indicate that selling is not a priority for hodlers at the moment.