Overview
- Two large Poloniex withdrawals on October 17 and October 26 moved a combined 11.85 trillion PEPE into wallets that blockchain analytics firm Arkham attributes to Justin Sun.
- Arkham traced the coins through Binance and HTX before they landed in the Sun‑attributed addresses and also flagged about $77 million in stablecoin transfers from those wallets to Poloniex between October 15 and October 25.
- The addresses that Arkham links to Sun now hold roughly $51.25 million of PEPE, equal to about 2.82–3% of the token’s supply based on on‑chain valuations at the time of the analysis.
- Centralized exchanges still control the largest known shares of PEPE (for example, Binance holds around 18.7% of supply), and Arkham’s figures rely on wallet attribution rather than a confirmation from Sun.
- Because PEPE is highly speculative and order books can be thin, the market impact would depend on whether these tokens are kept in private wallets or moved back to exchanges, so traders should watch for exchange deposits as a sign of potential selling pressure.