Pepe Coin whale sold over 130 billion PEPE in just a few days, causing a stir among market participants and shifting the focus to EIGEN.
This week, the cryptocurrency market experienced extreme volatility, with the super Pepe Coin whale's investment strategy shifting towards EIGEN, sparking widespread discussion in the market. On-chain data shows that this whale sold 130 billion PEPE in a short period while diversifying its portfolio with over 200,000 Ethereum-based EIGEN tokens.
Against the backdrop of a decline in the meme coin market and a rise in EigenLayer ecosystem tokens, this position swap has become a market hotspot, sparking significant attention on the future trends of both tokens. Market observers believe that this adjustment reflects investor confidence in EigenLayer while adding uncertainty to the future development of the meme coin market.
Super Pepe Coin whale readjusts investment focus, acquires EIGEN.
According to Spot On Chain data, as of November 25, a recent large-scale sell-off by a super whale during price fluctuations has drawn market attention. This whale sold 74.07 billion Pepe Coin worth $1.53 million for 448.1 ETH as prices fell. The data shows that it also sold 130.2 billion Pepe Coin worth $2.71 million for 891 ETH over the past three days. Nevertheless, this whale still holds approximately 3.241 trillion Pepe Coin, with current profits of 12.6 times, totaling a value of up to $68.3 million.
Meanwhile, this super whale is also actively positioning itself in EIGEN. In the past two days, it purchased 217,348 Ethereum-based tokens for 181.3 ETH, further expanding its holdings. Currently, this whale holds a total of 1.608 million EigenLayer tokens, valued at approximately $4.31 million, achieving an 11% gain.
This capital allocation strategy reveals a bullish outlook on the EigenLayer ecosystem, leading the market to be optimistic about EIGEN's development potential. On the other hand, this massive Pepe Coin sell-off complicates market sentiment, as investors and observers closely monitor the subsequent trends of these two tokens, especially whether further trading actions by the super whale will trigger new market fluctuations.
PEPE and EIGEN price trends diverge.
Although the PEPE price has recently declined, consistent with the super whale's sell-off behavior, Ethereum ecosystem tokens have shown strong buying pressure, pushing prices higher. As of now, PEPE's intraday price has fallen by 2%, with a cumulative weekly drop of 5%, trading at $0.00002026, with a 24-hour low of $0.00001918 and a high of $0.00002086.
On the other hand, Ethereum-based token EIGEN has performed strongly, rising nearly 7% during the day and accumulating a 23% increase for the week, currently priced at $3.06. Its 24-hour low and high prices are $2.56 and $3.07, respectively. Despite significant overall market volatility, investors have shown optimism towards Ethereum-based tokens. However, the remaining large holdings of PEPE add uncertainty to its future price movement.
It is worth mentioning that according to analysis from CoinGape Media, PEPE's target price is set at $0.000025, demonstrating significant upside potential. This prediction is based on bullish technical patterns in its price chart. Amid ongoing market volatility, observers will closely watch the future performance of these two tokens to determine whether they can break through key price levels.