Justin Sun-linked wallet receives 7.2 trillion PEPE from Poloniex

A wallet reportedly linked to Justin Sun received 7.2 trillion PEPE tokens, valued at roughly $28.44 million, from Poloniex, according to Ambcrypto. The report, updated October 22, 2026, said the wallet’s total holdings reached 7.268 trillion PEPE, worth about $32.63 million at the prevailing market price.

Ambcrypto attributed the transaction’s visibility to a crypto commentator on X. The transfer did not confirm fresh purchases, but its size drew renewed attention to PEPE whale activity and coincided with renewed exchange withdrawals.

Also read: Memecoins lose $108.7B in 14 days as altcoin market shrinks

Key facts

• A wallet reportedly linked to Justin Sun received 7.2 trillion PEPE from Poloniex, valued at about $28.44 million.
• The wallet’s reported holdings reached 7.268 trillion PEPE, or roughly $32.63 million at the time.
• PEPE spot netflows flipped negative after four positive days, recording about $2.17 million in net outflows.
• Daily PEPE trading volume fell 28.56% to $396.07 million while Open Interest rose 1.21% to $316.97 million.
• PEPE traded near $0.00000450, up about 15% on the weekly candle, with $0.0000050 as resistance.

Exchange flows turn after four-day run

The spot market shifted alongside the whale transfer. After four consecutive days of positive Spot Netflows, the reading turned negative, with approximately $2.17 million in net outflows at reporting time, per CoinGlass data cited in the report. That means withdrawals exceeded deposits, reducing the amount of PEPE held on exchanges.

The earlier positive netflows had reflected heavier exchange deposits, which can raise the supply available for selling. The reversal therefore supported the accumulation narrative around the reported transfer. Ambcrypto cautioned that withdrawals alone do not establish stronger buying demand or guarantee an immediate rebound.

Also read: Tron post-quantum signatures live on Nile testnet, Sun says

Derivatives show longs ahead of a quieter market

Derivatives activity weakened even as positioning stayed slightly bullish. PEPE’s daily trading volume declined 28.56% to $396.07 million, while Open Interest edged up 1.21% to $316.97 million, a divergence that points to slightly larger outstanding positions on thinner trading activity.

The 24-hour Long/Short Ratio was 1.067, a modest edge for longs. On OKX the same ratio stood near 2.13, indicating a stronger long preference among account holders there. Liquidations were heavier for bearish positions, with shorts at $464.35K against $336.80K in longs.

PEPE tests overhead resistance near $0.0000050

On the weekly chart, the report described a recovery attempt: buyers defended lower levels and reclaimed $0.0000040, with PEPE trading around $0.00000450 and up roughly 15% during the ongoing weekly candle.

Technical readings leaned bullish. The Directional Movement Index showed +DI at 28.05 versus -DI at 14.08, and the ADX at 22.55 suggested an emerging but only moderately strong trend. The Parabolic SAR sat below the market price at $0.00000289.

The next obstacle is $0.0000050, a level that had previously rejected upward moves. A strong weekly close above it could validate the bullish setup, though that outcome is not assured and PE

Why it matters

A transfer of this size puts whale behavior back into the conversation around PEPE ahead of another memecoin cycle, a narrative the report says the wallet activity helped revive. For holders, the combination of exchange outflows, a modest long bias in derivatives, and improving weekly momentum is being read as supportive, but it depends on follow-through rather than the transfer itself, which confirmed no new purchase. Liquidation data also shows bearish leveraged traders took the larger losses.

What to watch

The key test is whether PEPE can close a weekly candle above $0.0000050 resistance. Spot Netflow readings on CoinGlass, Open Interest, and the Long/Short Ratio on OKX are the data points that will show whether the flow reversal holds or fades.

This is not financial advice. Cryptocurrency markets are volatile and uncertain, and price levels discussed here may not be reached.

Reported by ambcrypto.com.

Source: AMBCrypto