PEPE Drops to $0.0000049 as Binance Hacker Sells $31.6M

PEPE traded near $0.0000049 on October 30 after an intraday slump to $0.0000044, driven by heavy selling pressure from the attacker behind the Binance security breach, according to blockchain data reported by CryptoNews.

Data from Lookonchain shows the attacker exchanged 7.77 trillion PEPE tokens worth approximately $31.66 million at an average price near $0.0000041. The sale was part of a broader divestment involving UNI, ENA, LINK, AAVE, ONDO, and WLD that generated 70,480 ETH valued at $158.25 million. PEPE accounted for the single largest token allocation in the liquidation sequence.

Whale Buys Amid Futures Deleveraging

While the attacker dumped tokens, early PEPE investor dimethyltryptamine.eth purchased 45.08 billion PEPE worth $206,500. The wallet previously gained prominence after turning a 0.125 ETH investment ($251) into 5.9 trillion PEPE that peaked at a $100 million valuation. However, the recent purchase represented just 0.58% of the volume sold by the Binance hacker.

Derivatives activity surged as prices swung. Figures from CoinGlass showed PEPE futures trading volume jumped 59.84% to $1.52 billion, while open interest dropped 10.09% to $369.85 million, signaling significant leverage reduction by market participants. Recorded liquidations around 03:00 UTC totaled $1.53 million, divided between $773,530 in longs and $754,170 in shorts.

Key facts

• The Binance hacker sold 7.77 trillion PEPE tokens worth $31.66 million for ETH.
• Early trader dimethyltryptamine.eth bought 45.08 billion PEPE ($206,500) following the dump.
• PEPE price touched an intraday low of $0.0000044 before hovering around $0.0000049.
• PEPE futures volume surged 59.84% to $1.52 billion while open interest fell 10.09%.