Two major investors in the cryptocurrency sector, also known as 'Whales', have recently attracted attention by pouring millions of USD into popular meme coins, including Pepe Token (PEPE) and Mog Coin (MOG). This move has caused the prices of these coins to fluctuate significantly and attracted considerable attention from the community.
Pepe Token: Price Rise But Currently Correcting?
On the morning of 22/11/2024, a new cryptocurrency wallet purchased 309.6 billion PEPE, worth about 6.45 million USD, from the KuCoin exchange.
This transaction helped PEPE, one of the most famous meme coins, increase in price to $0.00002174 before dropping to $0.00002022.
However, data from CoinGlass shows that leveraged traders expect the price of PEPE to correct further before entering a new growth phase, with short positions outnumbering long positions.
Mog Coin: Whales Own 0.5% of Total Supply
At the same time, another whale withdrew 1,803 ETH (equivalent to 6.06 million USD) and invested it in buying 2.2 trillion Mog Coin (MOG).
This transaction accounts for 0.5% of the total supply of MOG, bringing this cat-themed meme coin closer to the top 100 largest cryptocurrencies by market capitalization.
The price of MOG has risen to a historical peak of $0.000002967 but then dropped more than 12%. Nevertheless, this coin is still considered to have growth potential if listed on major exchanges in the future.
Tham Lam Thống Trị Thị Trường Meme Coin
The Crypto Fear & Greed Index is currently at 95, indicating extreme greed in the cryptocurrency market, especially in the meme coin sector.
The community is expecting coins like PEPE and MOG to continue to grow strongly thanks to significant interest from whales and institutional investors.
Is the price surge of these meme coins a golden opportunity or just a bubble about to burst? The answer will depend on community interest and future listing strategies.
