The crypto market is down today as the war between Israel and Iran dampens investor confidence. Bitcoin, for instance, has dropped to $102,000, before rebounding slightly. Altcoins too have not been spared in the recent dip with memecoins like Pepecoin (PEPE) taking the biggest hit. 

PEPE has dropped by over 13% on the day. A deposit by a top whale has also stirred market exit concerns. This leaves Pepe investors worried of an impending deeper dive below the current level. 

Pepecoin Dips 13% Over the Last 24 Hours

According to data by CoinMarketCap, Pepecoin is currently trading at $0.000001070. This price level marks a 13.39% dip on the day as the crypto market crashes. On the other hand, PEPE coin’s trading volume has surged to $1.69 billion over the last 24 hours, meaning a 30.51% surge. 

A spike in trading volume amid price drop signals that holders are selling their coins. This could result in a deeper dive in the price of the memecoin. 

The recent Pepecoin price dip is majorly contributed by the ongoing war between Israel and Iran. According to reports, Israel launched strikes against Iran on June 12. This war has taken a hit on global economic conditions with the world now worried that the war could escalate further. 

PEPE Whale Deposit Signals Market Exit Strategy

As the price of Pepecoin drops, one crypto whale has caught the attention of the PEPE community. As reported by Spot on Chain, this whale has transferred 609 billion PEPE tokens worth around $6.43 million to Binance. The deposit comes after a string of large trades made by the whale within the last month, indicating a strategic exit from the memecoin.

Earlier, Spot on Chain had reported that the same whale had purchased an enormous 2.209 trillion PEPE tokens on Binance between May 17 and 18. The total cost for the purchases was approximately $27.68 million. However, in subsequent transactions, the whale has since dumped 1.609 trillion PEPE tokens back to the exchange. This amounts to approximately $18.08 million in Pepe coin sales. 

A whale just deposited 609B $PEPE ($6.43M) into #Binance ~20 minutes ago.

On May 17-18, the whale accumulated 2.209T $PEPE (~$27.68M) from Binance.

Over the past 5 days, the whale offloaded 1.609T $PEPE (~$18.08M) back to the exchange.

Now, the whale holds 600B $PEPE ($6.4M),… pic.twitter.com/E1ZQtlN6Kv

— Spot On Chain (@spotonchain) June 13, 2025

The trading frenzy has reduced the whale to approximately 600 billion PEPE tokens worth $6.4 million. At the time and price of these trades, the whale is now carrying an unrealized loss of $3.2 million or 11.6 percent of the amount invested. 

What the Whale Deposit Means for PEPE Traders

Such huge whale shifts in direction can be a frequent indication of an overall market mood and could impact short-term price behavior. A high supply of tokens to an exchange is usually a sign of a possible desire to sell, and that might create a negative pressure on the price.

Such a large PEPE deposit should not be overlooked by smaller investors and market watchers. The deposit represents a shift in investors sentiment and potential loss-taking, which might influence the price movement of the token in the coming days. Investors must thus keep an eye on and track the activity of whale wallets to be more aware of possible market changes.