search
Homeweb3.0PEPE Coin (PEPE) Sees Whale Accumulation, Signaling a Potential Rally

A large crypto investor, or whale, has made headlines after it was spotted trying to amass a significant amount of PEPE coins.

PEPE Coin (PEPE) Sees Whale Accumulation, Signaling a Potential Rally

A large crypto investor, or whale, has made headlines after it was spotted trying to amass a significant amount of PEPE coins, to the tune of billions, earlier today. While some investors are worrying about the recent price dip in the coin, other smart ones are taking advantage, accumulating substantial amounts in anticipation of a rally.

Pepe coin (PEPE) quickly rose to prominence after its launch in April 2023, positioning itself as the third-largest memecoin by market capitalization, next to Dogecoin (DOGE) and Shiba Inu (SHIB). The coin has witnessed an impressive rally over the past few months, constantly sitting among the top trending cryptocurrencies daily. This latest accumulation has sent tongues wagging in the crypto space, let us take a closer look.

Whale Buys 420 Billion PEPE

Spot on Chain, a crypto large transaction tracking service, revealed that this whale, known as “cookislandstrust.eth,” has been taking advantage of the recent price dip to buy PEPE. According to the report, the whale has spent about $3.13 million USDT to buy 420 billion PEPE in the last 7 days. Notably, the aforementioned whale bought this large amount of PEPE on two separate occasions.

The first transaction occurred during the global market downturn that happened on August 5, which saw more than $1 billion wiped out of the crypto market in liquidation. During that time, the whole market was painted in red as coins saw heavy losses within a very short time.

However, this whale bought PEPE twice that day, 204.7 billion (worth $1.5 million), and 95.2 billion (valued at $664k). The second transaction happened about two hours from the time of the reporting, accumulating 120 billion Pepe coins, valued at approximately $966k. Spot on Chain noted that the whale has since realized $170k from the trades, signifying a 5.4% profit on his initial investment.

Whale Also Targetted Ethereum

Meanwhile, the whale appears to spread out its portfolio targeting other top coins including Ethereum. Per Spot on Chain data, the whale accumulated the second-largest cryptocurrency by market cap during the August 5 market crash. The data shows that “cookislandstrust.eth” spent $7.050 million to buy 2,978 ETH.

Similarly, the coins were bought in two distinct transactions that day, The first one accumulated 2.478 ETH, valued at $5.925 million, and the second one moved 500 ETH, worth $1.125 million. This whale has made $534k (7.579%) in profit since opening positions.

PEPE Price Movement

The price of Pepe (PEPE) has shown very unstable movements in the last 24 hours. According to CoinMarketCap, PEPE traded at 0.000008045 at the time of writing, representing a 2.26% increase. Meanwhile, during this time, PEPE has declined as low as $0.000007716 signifying its level of high volatility, a trait exhibited by memecoins in general.

Also, PEPE has seen an increase in its one-day trading volume by 21.33% showing increased activities by traders and investors. Consequently, its market cap has spiked by 2.2% to $3.3 billion. It is hard to determine if Pepe will sustain this rally, however, the future of the coin seems bright as it continues to command investors’ attention.

The above is the detailed content of PEPE Coin (PEPE) Sees Whale Accumulation, Signaling a Potential Rally. For more information, please follow other related articles on the PHP Chinese website!

Statement
The content of this article is voluntarily contributed by netizens, and the copyright belongs to the original author. This site does not assume corresponding legal responsibility. If you find any content suspected of plagiarism or infringement, please contact admin@php.cn
Rollblock (RBLK): The Next Big Crypto to Return 100x Results?Rollblock (RBLK): The Next Big Crypto to Return 100x Results?Aug 06, 2024 am 09:24 AM

When Dogecoin was released in 2013, it was priced at $0.00005. Today, it retails at 12 cents, a 2400x return. And if you think that is impressive, the Pepe price yielded over 100300000%.

Pepe (PEPE) and Dogwifhat (DOG) Regaining Momentum as Crypto Market Sentiment ImprovesPepe (PEPE) and Dogwifhat (DOG) Regaining Momentum as Crypto Market Sentiment ImprovesJul 29, 2024 am 03:55 AM

As optimism returns to the crypto market, many projects are primed for takeoff. Two promising signs on the chart are both major memes that have played a protagonist role in the past year: Dogwifhat and Pepe.

The Ripple Effect: How Bitcoin's Decline Impacts Pepecoin (PEPE) InvestorsThe Ripple Effect: How Bitcoin's Decline Impacts Pepecoin (PEPE) InvestorsAug 06, 2024 am 06:16 AM

Recently, Bitcoin (BTC) experienced a significant price drop, shaking the cryptocurrency market and sending shockwaves through various investment

Crypto Whale With $26.47M WBTC Position Faces Potential Liquidation on CompoundCrypto Whale With $26.47M WBTC Position Faces Potential Liquidation on CompoundSep 10, 2024 am 09:00 AM

A crypto whale with a $26.47 million position in Wrapped Bitcoin (WBTC) is cutting it close after barely escaping liquidation last Friday.

DOGE, SHIB, PEPE Officially DETHRONED! These New Meme Coins are About to ExplodeDOGE, SHIB, PEPE Officially DETHRONED! These New Meme Coins are About to ExplodeJul 26, 2024 pm 09:34 PM

The recent bearish market momentum has heavily impacted some meme coins, with popular large-cap altcoins like Dogecoin ($DOGE), Shiba Inu ($SHIB), and Pepe ($PEPE) encountering challenges.

Mpeppe (MPEPE) Emerges as the New Whale Target, dethroning Injective Protocol (INJ)Mpeppe (MPEPE) Emerges as the New Whale Target, dethroning Injective Protocol (INJ)Sep 09, 2024 pm 03:17 PM

In a bold move that has captured the attention of the cryptocurrency community, a prominent whale recently liquidated a portion of their Injective Protocol (INJ) holdings to invest in the burgeoning meme coin, Mpeppe (MPEPE).

BlockDAG's Upcoming CEO and Team Unveiling Boosts Presale to $60.9M; FLOKI & PEPE Show Bullish TrendsBlockDAG's Upcoming CEO and Team Unveiling Boosts Presale to $60.9M; FLOKI & PEPE Show Bullish TrendsJul 26, 2024 pm 03:01 PM

As the crypto community anticipates a pivotal moment this year, BlockDAG prepares for a significant team unveiling on July 29th. This event is set to fully

BlockDAG & Alex Pereira: A Soaring Success StoryBlockDAG & Alex Pereira: A Soaring Success StoryJul 29, 2024 am 03:34 AM

The crypto market is buzzing as BlockDAG’s strategic partnership with UFC icon Alex Pereira drives the coin to unprecedented heights. This collaboration has spotlighted an extraordinary 1400% increase, with the presale amassing over $62 million and c

Hot AI Tools

Undresser.AI Undress

Undresser.AI Undress

AI-powered app for creating realistic nude photos

AI Clothes Remover

AI Clothes Remover

Online AI tool for removing clothes from photos.

Undress AI Tool

Undress AI Tool

Undress images for free

Clothoff.io

Clothoff.io

AI clothes remover

AI Hentai Generator

AI Hentai Generator

Generate AI Hentai for free.

Hot Article

R.E.P.O. Energy Crystals Explained and What They Do (Yellow Crystal)
2 weeks agoBy尊渡假赌尊渡假赌尊渡假赌
Repo: How To Revive Teammates
4 weeks agoBy尊渡假赌尊渡假赌尊渡假赌
Hello Kitty Island Adventure: How To Get Giant Seeds
3 weeks agoBy尊渡假赌尊渡假赌尊渡假赌

Hot Tools

Zend Studio 13.0.1

Zend Studio 13.0.1

Powerful PHP integrated development environment

SublimeText3 Chinese version

SublimeText3 Chinese version

Chinese version, very easy to use

SublimeText3 Linux new version

SublimeText3 Linux new version

SublimeText3 Linux latest version

Notepad++7.3.1

Notepad++7.3.1

Easy-to-use and free code editor

Dreamweaver CS6

Dreamweaver CS6

Visual web development tools