PEPE price has fallen toward $0.0000049 on October 30 after the attacker behind the Binance hack reportedly sold 7.77 trillion tokens worth nearly $31.66 million, adding pressure to an already volatile cryptocurrency market.
Summary
- PEPE price traded near $0.0000049 on October 30 after a volatile session that took the token as low as $0.0000044.
- Lookonchain reported that the Binance attacker sold 7.77 trillion PEPE worth approximately $31.66 million.
- A trader known for an early PEPE investment reportedly bought another 45.08 billion tokens after the sale.
- PEPE futures volume climbed as open interest fell, showing traders reducing outstanding leveraged positions.
- Technical levels to watch include support at $0.0000045 and resistance between $0.0000050 and $0.0000052.
According to blockchain tracker Lookonchain, the attacker exchanged the stolen PEPE at an average price near $0.0000041 as part of a larger sale involving several cryptocurrencies. The trades brought in ETH, while the meme coin later recovered from its intraday low near $0.0000044.
At the time of reporting, PEPE traded around $0.00000491, down 1.29% over 24 hours, as per crypto.news market data. Its trading range stretched to $0.0000057, showing how broadly prices had moved during the session.
Binance hacker sells 7.77 trillion PEPE as market weakens
The reported sale followed the October 29 security breach at Binance, where attackers gained unauthorized access to exchange-controlled cryptocurrency wallets.
Lookonchain identified the sale of 7.77 trillion PEPE alongside transactions involving UNI, ENA, LINK, AAVE, ONDO and WLD. Together, the seven token sales generated approximately 70,480 ETH worth $158.25 million at the time.
PEPE accounted for $31.66 million of the total, making it one of the larger individual sales. The tracker reported that the attacker had completed the transactions, although movements from other wallets remained under scrutiny.
On-chain analyst Darkfost separately reported almost $38.55 million in PEPE moving during the incident. His earlier estimate covered a different stage of the activity and should not be added to the completed sale.
As reported earlier today, the attacker exploited Ethereum’s EIP-7702 authorization system to gain control of a Binance hot wallet. The exchange estimated that the security breach affected approximately $6.3 billion in cryptocurrency.
The large PEPE sale occurred while Bitcoin and several major altcoins were declining. However, the available trading data does not establish how much of PEPE’s entire daily price movement came directly from the attacker’s transactions.
PEPE whale buys 45 billion tokens following hacker sales
While the attacker was selling, another closely watched PEPE wallet reportedly returned to the market.
In an October 30 update, Lookonchain identified a trader known as dimethyltryptamine.eth purchasing another 45.08 billion PEPE worth almost $206,500 after the reported hacker sales.
The wallet attracted attention because of an earlier investment in the meme coin. According to the tracker, the trader originally spent 0.125 ETH, worth $251 at the time, to acquire 5.9 trillion PEPE that later reached a peak valuation of $100 million.
The reported October purchase was much smaller than the attacker’s sale. At 45.08 billion tokens, it represented roughly 0.58% of the 7.77 trillion PEPE sold by the hacker.
Another prominent holder had been accumulating the token before the security incident. On October 27, crypto.news reported Justin Sun’s holdings after Arkham identified wallets linked to the Tron founder controlling 2.82% of PEPE’s total supply.
The wallet purchases show that some large holders were active during the volatility, although individual transactions do not establish a lasting recovery in market demand.
PEPE futures volume rises as open interest falls
Derivatives trading intensified during the price swings, with CoinGlass figures showing PEPE futures volume rising 59.84% to nearly $1.52 billion.
Open interest fell 10.09% to $369.85 million in the supplied snapshot. The decline indicates that the total value of outstanding futures positions decreased even as trading activity picked up.
A separate liquidation reading around 03:00 showed approximately $1.53 million in affected positions, split between $773,530 in longs and $754,170 in shorts. OKX accounted for the largest portion of those recorded liquidations.
The nearly equal totals show traders on both sides getting caught during the price swings. They do not establish whether buying or selling will dominate the next session.
An earlier PEPE price report described renewed trading interest after whale purchases and exchange withdrawals. The latest futures figures instead show reduced outstanding leverage during a much more volatile session.
PEPE price analysis points to $0.0000050 resistance
PEPE’s daily chart showed a rebound from $0.0000044 toward $0.0000050, although sellers had previously rejected prices near $0.0000056.
The Relative Strength Index stood at 60.55, above its moving average of 55.86. That reading suggests improving momentum without reaching the commonly watched overbought threshold of 70.
Immediate resistance remains near $0.0000050, followed by the $0.0000055–$0.0000057 area. A loss of $0.0000045 could bring the Bollinger Band midpoint near $0.00000435 into focus.
Crypto analyst Trader Symba identified a possible cup-and-handle formation on the 12-hour chart, with resistance between $0.0000050 and $0.0000052.
The analyst said a sustained breakout followed by a successful retest could open a move toward $0.0000065–$0.0000068, near the upper boundary of the chart pattern.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
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