Pepecoin (PEPE) holders continue to show bullish sentiment towards the token, as on-chain analytics tool Lookonchain reported three whales accumulating the token despite a recent price correction.

The three large holders, identified as 0x50C1, 0x2Baa, and 0x3AE8, purchased significant amounts of PEPE tokens after the price dropped by almost 50%.

Lookonchain also reported that 0x50C1 withdrew 1.4 trillion PEPE tokens worth $2.76 million from Binance when the price was at $0.000002054.

Despite the recent price drop, Pepecoin has seen over $420 million traded in the past 24 hours, with trading volume shifting from decentralized exchange Uniswap to Binance after the latter listed the tokens in its innovation zone last week.

Binance saw over $160 million worth of pepecoin trading compared to $55 million on Uniswap in the past 24 hours. This shift is likely due to more accessibility for retail traders and significantly lower fees per trade on Binance, compared to an average of $35 per PEPE trade on Uniswap as of Wednesday.