- Uniswap and Pepe on-chain data suggest a decrease in Supply on Exchanges.
- On-chain data suggest that UNI and PEPE whales are accumulating.
- Investors should be cautious about decreasing Active Addresses and Network Growth.
Large-wallet investors are taking advantage of the current dip in Uniswap (UNI) and PEPE (PEPE) prices to accumulate these tokens, on chain-data shows, potentially signaling whales’ confidence in the future performance of these coins.
According to data from Lookonchain, significant whale activity has been observed in UNI and PEPE markets. On Monday, one address withdrew 870,827 UNI tokens, valued at $8.5 million, from the OKX exchange. Similarly, another address withdrew 303.4 billion PEPE tokens, worth $3.8 million, from Binance.
Whales/freshwallets bought $UNI, $BLZ $PEPE and $TRB.
— Lookonchain (@lookonchain) June 10, 2024
0x3492 withdrew 870,827 $UNI($8.5M) from #OKX 1 hour ago.https://t.co/fDNkGukDP4
0xe841 withdrew 7.69M $BLZ($2.16M) from #Binance 1 hour ago.https://t.co/dZtkV4i6I0
0x81cC and 0xf226 withdrew 303.4B $PEPE($3.8M) from… pic.twitter.com/wnQ3Gpnng7
Uniswap whale activity suggests optimism
Santiment's data on Supply on Exchange illustrates the total amount of UNI held across centralized exchanges (CEX), decentralized exchanges (DEX), and outside exchanges. An increase in this index suggests potential sell-offs or the formation of local price tops, while a decrease indicates whale accumulation or local price bottoms.
In the case of UNI, the Supply on Exchange decreased from 70.26 million on June 6 to 69.26 million on June 10, coinciding with a 12% price drop. This decline suggests that large investors accumulated during the dip, indicating their confidence in a price rebound.
UNI Supply on Exchange chart
Santiment's Supply Distribution metric shows that between June 9 and June 10, holdings by whales with 100,000 to 1 million UNI tokens increased from 94.99 million to 96.01 million. In contrast, wallets holding 10 million to 100 million UNI decreased from 124.39 million to 123.51 million.
This suggests that the second set of whales sold their holdings to the first cohort, explaining the decreasing supply of UNI on exchanges.
UNI Supply Distribution chart
Pepe whales are also accumulating
Santiment's data on Supply on Exchange shows that PEPE's supply decreased from 171.93 trillion on June 6 to 170.18 trillion on June 10, coinciding with a 14% price crash. Similar to Uniswap’s case, this decrease indicates that large investors are buying the dips.
PEPE Supply on Exchange chart
Despite on-chain data showing that UNI and PEPE whales are buying amid the recent price dip, Active Addresses and Network Growth of these coins have remained low, suggesting that investors should not anticipate an immediate price rally for these assets.
UNI Active Address and Network Growth chart
PEPE Active Address and Network Growth chart
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks

How will BNB price react as Binance and Kraken delist USDT for EU countries?
On Monday, Binance officially discontinued spot trading pairs involving Tether’s USDT in the European Economic Area to align with the European Union’s Markets in Crypto-Assets Regulation.

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Bears target sub-$80,000 BTC, ETH 2-year lows, XRP yearly bottom
Bitcoin price is hovering around $83,000 on Friday after it failed to close above the $85,000 resistance level earlier this week.

Crypto stablecoin legislation advances, but Democrats say Trump’s USD1 raises red flags
The US Congress began reviewing a Crypto Stablecoin bill on Wednesday. This comes a week after Trump-backed WLFI announced the launch of its USD1 Stablecoin pegged 1:1 to the US dollar.

Solana extends decline amid upcoming $200 million unlocks
Solana declined 3% in Friday's early Asian session, impacted by an upcoming $200 million staked SOL unlock from four whale wallets, according to Arkham Intelligence.

Bitcoin: BTC remains calm before a storm
Bitcoin's price has been consolidating between $85,000 and $88,000 this week. A K33 report explains how the markets are relatively calm and shaping up for volatility as traders absorb the tariff announcements. PlanB’s S2F model shows that Bitcoin looks extremely undervalued compared to Gold and the housing market.

The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.