TL;DR:
- Record Withdrawal: The cryptocurrency network recorded a daily net outflow of 4.54 trillion PEPE tokens from centralized trading platforms.
- Holder Metrics: A total of 571,613 unique wallet addresses hold the token on the Ethereum blockchain.
- Institutional Filing: Asset manager Canary Capital filed an S-1 registration statement with the US SEC to structure a spot ETF.
The outflow from PEPE exchanges over the past 24 hours stood at 4.54 trillion tokens. This figure represents the memecoin’s largest daily withdrawal from centralized platforms logged since November 14, 2024.
🔗 Live Chart: https://t.co/Y2rBKdxt5x
🐸 $PEPE just saw 4.54T coins move off exchanges in one day. That’s the memecoin’s largest net exchange outflow since November 14, 2024.
📦 Fewer coins on exchanges means fewer tokens ready for fast selling, which lowers the risk of a… pic.twitter.com/iY6SEJQJqf
— Santiment Intelligence (@SantimentData) August 5, 2026
Analysis from the on-chain metrics firm Santiment indicates that the reduction of tokens on exchanges could decrease immediate selling pressure on the asset. The firm noted that, based on current trends, when coins leave platforms while overall volume remains moderate, supply typically shifts to long-term holders awaiting a change in market sentiment.
Over the past two months, the asset’s price has continued trading in a steady lateral range. Market reports attribute this behavior to capital rotation among different memecoins and weakening funding rates in derivatives.
Regarding on-chain asset distribution, Ethereum network records place this token among the memecoins with the highest number of holders. Data shared by the BSCN platform shows that there are currently 571,613 active wallet addresses holding the token.
This figure places the asset second only to Shiba Inu on the Ethereum network. In comparative terms, the Shiba Inu network has a total of 1,678,653 unique wallet addresses holding the asset.
Institutional Interest and Liquidity Outlook in the Crypto Market
The institutional segment began showing moves around this memecoin in early 2026. The asset management firm Canary Capital filed Form S-1 with the US Securities and Exchange Commission (SEC) in April 2026 to launch the spot Canary PEPE ETF.
Official documentation indicates that the proposed exchange-traded fund will track the live market price of the digital asset. The prospectus submitted to the regulator specifies that the token has no blockchain infrastructure-based utility beyond its brand and meme culture, meaning its value primarily depends on digital community sentiment. The official document adds that there is no guarantee that demand for the asset will remain constant over time.
Despite this regulatory warning, some analyst projections anticipate positive scenarios. Crypto analyst Rafaela Rigo projected that the asset could deliver a 3x to 5x return in the next bull cycle. According to the specialist’s estimates, the token sets a technical target near $0.0000143, representing a gain of approximately 400% from the $0.0000028 level.
In parallel, other experienced traders have issued warnings about the liquidity risks surrounding meme-based assets. Trader Ogle noted that crypto assets with limited liquidity could experience severe drops within minutes if a small group of large holders decides to liquidate their positions.
Referencing the recent behavior observed in the CASHCAT token, the trader explained that many market participants often confuse unrealized gains with locked-in profits. According to Ogle’s assessment, thin liquidity combined with ownership concentration and leverage accelerates sharp corrections, particularly when perpetual futures listings amplify volatility and trigger cascade liquidations.
The evaluation process for the Canary PEPE ETF application by the SEC will remain under regulatory review over the coming months of 2026, during which time the agency will determine the approval or rejection of the proposed structure.
Be the first to comment