As a seasoned crypto investor with years of experience navigating the volatile and unpredictable market, I have learned to keep my eyes wide open and my fingers on the pulse at all times. The latest developments in the meme coin sector have caught my attention, particularly the ongoing whale game between PEPE and WIF.
TL:DR;
- Whales continue to make big moves in the cryptocurrency market, and some keep accumulating PEPE.
- At the same time, others have decided to possibly part with WIF holdings and secure substantial profits.
Data from Lookonchain has consistently shown a rising interest among large investors towards the third-largest meme coin, PEPE. In a recent significant transaction that just took place, two wallets (possibly linked to the same entity) invested approximately $5 million in USDC to purchase over 190 billion PEPE.
On Saturday evening, this occurred during a surge in the asset’s price that took it above $0.000026 for the very first time.
Whales are buying $PEPE!
2 wallets, possibly linked to a single large investor, collectively poured approximately 4.89 million US Dollars into purchasing about 190.14 billion PEPE tokens at an average price of around 0.00002572 dollars each within the past 6 hours!
Address:
0xcb1f2b9562a7a4e2029db54d504dfe4b1e46b7dc
0xb721c74a0a1c97187146d1fe7df94a9d8752481d— Lookonchain (@lookonchain) December 8, 2024
In recent months, whales (large crypto investors) have been actively purchasing cryptocurrencies, and this trend has intensified following the victory of Donald Trump, who is known for his pro-cryptocurrency stance, in the US elections.
On the other hand, a significant investor appears to be adopting a contrasting stance towards the well-known meme coin, WIF. Furthermore, data from Lookonchain suggests they transferred approximately $9.5 million worth of the asset to Coinbase, potentially intending to sell off their holdings.
If they do manage to offload the tokens, they’ll end up with approximately $8.5 million in net earnings since they acquired the hoard about a year prior.
A whale deposited 2.78M $WIF($9.5M) to #Coinbase 12 hours ago.
10 months back, this whale invested about 1.02 million dollars in Solana (SOL), and now they’ve earned an impressive profit of approximately 8.48 million dollars from their purchase of around 2.78 million WIF tokens!
— Lookonchain (@lookonchain) December 7, 2024
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2024-12-08 17:40