Crypto Trader Bags $59M In PEPE, SHIB, ETH, & 5 Others Hinting Gains Inbound 🔥

Recent on-chain data sparks optimism for certain altcoin prices as a crypto trader, amidst the broader market’s bearish turn today, executed a potential buy-the-dip strategy. Despite Bitcoin and most crypto prices declining, the trader managed to accumulate $59 million worth of eight different coins, including ETH, PEPE, SHIB, RNDR, MATIC, LINK, AVAX, and GRT, hinting at potential gains ahead

Trader Bags $59M: A Look Into Token Holdings

According to the data revealed by EmberCN, an on-chain transaction tracker, the crypto trader with the address 0x4fdFE…was recorded as having been making the colossal purchases. Usual market sentiments convey a buy-the-dip strategy, as mentioned above.

Ethereum (ETH)

As per data by Arkham Intelligence, the abovementioned address bagged 9,425 ETH, worth $30.92 million, today. ETH price traded at $3,306, down 4.10% over the past day.

It’s worth noting that with odds tilting in favor of the launch of an ETH ETF ahead, the trader’s Ethereum accumulation has gained significant traction.

Pepe Coin (PEPE)

Simultaneously, on-chain data showed that the same trader accumulated 957.7 billion PEPE, worth $9.82 million, today. The crypto PEPE’s price tanked 7.45% from yesterday to rest at $0.00001043.

The significant price drop in Pepe coin, as also seen by a 17% crash over the week, might have urged the trader to enter the PEPE market. Besides, this accumulation hints at bolstered price movements ahead.

Shiba Inu (SHIB)

The trader also accumulated 583.7 billion SHIB, worth $9.63 million, amid a SHIB price drop. Shiba Inu traded at $0.00001658 today, a 3.15% fall over the past day.

Render (RDNR)

Meanwhile, the address sacked 438,700 RNDR, worth $3.13 million, per the data. This accumulation occurred as the RNDR price saw a pullback of 4.59% to $7.29.