Within the past week, an aggressive accumulation of 420 billion PEPE tokens in two transactions worth 3.13 million USDT has been made by a crypto whale identified as “cookislandstrust.eth”. This strategic move, starting at the height of the market dip on August 5, has returned a profit of $170,000—equating to a 5.5% gain.
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Whale’s Big Appetite
However, the whale’s action did not stop at PEPE. The same day, they bought nearly 3,000 Ether against 7.05 million USDT during the market slump for an unrealized profit of $534,000, up 7.58%. This double investment in wildly fluctuating PEPE and more stable Ethereum reveals how this whale precisely calculated its actions to generate the most from turbulent market situations.
A whale named “cookislandstrust.eth” is trying to buy $PEPE at dip again!
In the past 7 days, the whale has spent a total of 3.13M $USDT to buy 420B $PEPE on 2 occasions, including the big dump on Aug 5 and 2 hours ago, now making $170K (+5.4%).
The whale also spent 7.05M $USDT… pic.twitter.com/QVnbW5AGYz
— Spot On Chain (@spotonchain) August 12, 2024
Obviously, this big whale regards Ethereum as some form of fortress, especially when turmoil occurs within the markets. The move reflects a far greater sentiment the big guys have: Ethereum remains a safe bet, especially when quakes are experienced in the market. Now, this really shows how calculated this whole shift into various volatile and stable assets was on the part of that whale.
Pepe: Market Response And Investor Sentiment
“Cookislandstrust.eth” loves aggressive buying and has got the whole crypto community talking. Normally, when whales start to go upon bulk buying, people take it as a bullish signal. It simply denotes the fact that these big-time investors are of the view that the prices will go up in the future.
Now, more than ever, it’s in the hands of the traders and market lovers to critically follow the price of PEPE in order to see whether this will be just the tip of the iceberg. Will the whale’s confidence start a larger trend of accumulation?
Analyst Weighs In
PEPE’s performance in the recent past has been nothing close to stable. The meme coin is quite volatile in its price swings, classifying it as one of the riskiest investments one can make. Yet it cautions some of the biggest investors, who buy into the hype or speculation.
Well, just recently, Crypto Titans, a pseudonymous analyst, shared that PEPE could…
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