PEPE flows out of 4.54 trillion pieces, institutions bet on a 400% increase

According to Woofun AI, PEPE experienced large-scale exchange outflows on August 5, 2026, with a net outflow of 4.54 trillion units in a single day, the highest since November 14, 2024.

This abnormal data indicates that market sentiment is taking a critical turn. On-chain analysis agency Santiment points out that when modern coins are withdrawn from centralized trading platforms and the overall trading volume remains at a moderate level, it usually means that assets are flowing to long-term holders, thereby effectively reducing immediate selling pressure.

Judging from the fundamental structure, the price performance of PEPE has been relatively stable over the past two months. This sideways fluctuation is mainly due to capital rotation within the Memecoin sector and the decline in financing interest rates in the derivatives market. In terms of holder distribution, data compiled by Woofun AI shows that PEPE is one of the meme coins with the highest number of holders on the Ethereum network. According to BSCN platform statistics, there are currently 571,613 active wallet addresses holding the token, which is second only to Shiba Inu in the Ethereum ecosystem, which has 1,678,653 unique wallet addresses.

Although PEPE has an advantage in terms of user base, its price fluctuations are still deeply affected by derivatives market sentiment. Changes in financing interest rates directly reflect the pace of entry and exit of leveraged capital, which in turn affects short-term price trends.

Institutional level involvement brought new narrative variables to PEPE. Asset management company Canary Capital submitted Form S-1 to the US Securities and Exchange Commission in April 2026 to formally apply for the launch of the Canary PEPE ETF. The proposed spot ETF aims to track the real-time market price of PEPE. Its prospectus clearly discloses that the token lacks practical utility based on blockchain infrastructure, its value mainly depends on community sentiment and brand effects, and cannot guarantee stable demand.

Despite warnings of risk from regulators, Canary Capital chose to lay out this field in early 2026, showing professional institutions' recognition of the meme coin's financialization potential. The US Securities and Exchange Commission will continue to review the application over the next few months of 2026, and the final decision is whether the regulator grants listing authorization. This process will directly affect PEPE's compliance liquidity and institutional participation.

The game of long and short opinions has further exacerbated market uncertainty. Cryptocurrency analyst Rafaela Rigo predicts that in the next bull cycle, PEPE is expected to achieve returns of 3 to 5 times, and its technical target price is around $0.0000143, which is a potential increase of 400% compared to the current level of $0.0000028.

However, trader Ogle issued a stern warning about the risk of low liquidity, stating that if a few large holders concentrate on clearing, the market could plummet within a few minutes. Using the recent sharp fluctuations in CASHCAT tokens as an example, he emphasized that many participants mistakenly regard unrealized gains as determining profits, and that the leverage effect of perpetual contracts will amplify this fluctuation, leading to chain liquidation.

This structural vulnerability means that even with institutional endorsements, PEPE may face extreme market conditions due to exhaustion of liquidity.