WhaleTransaction
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2100% Increase in ApeCoin Whale Transactions: What Does It Mean for the Price of APE?
At first, positive sentiment around #ApeCoin drove its price up, but excessive bullish sentiment indicated a potential correction, which materialized in a 15% drop over the past day.
ApeCoin Sees a Significant Surge in Whale Transactions
Several crypto projects have witnessed a notable increase in whale transactions, with ApeCoin ($APE ) leading the pack. The ERC-20 cryptocurrency associated with Bored Ape Yacht Club (BAYC) saw an astonishing 2102.56% increase in whale transactions over the past week, with transactions exceeding $100,000.
Dramatic Rise in Whale Activity
According to the latest analysis by Santiment, this figure reflects a 22x increase in ApeCoin whale activity compared to its usual levels. This surge coincided with a nearly 78% price increase for APE over the last seven days, along with a trading volume spike of over 833%, indicating strong market momentum.
The increase followed the highly anticipated launch of ApeChain on October 20, developed by Yuga Labs, the creators of BAYC. ApeCoin DAO voted for the development of this layer 3 network back in January, which is built on Arbitrum One and fully compatible with the APE token. ApeChain supports NFT minting, trading, and decentralized applications, with the goal of enhancing the platform's user experience.
Warning of a Potential Correction
However, Santiment also warned that when a coin sees a significant rise in whale transactions—typically 5x or more than usual—its price tends to move in the opposite direction of its recent trend. For ApeCoin, which has experienced a sharp increase in whale transactions, this could signal an impending price drop. This scenario has already begun to play out, with APE's price experiencing a 15% correction over the last 24 hours.
Bullish Sentiment Peaks Before Correction
In recent weeks, ApeCoin has been one of the best-performing assets, attracting significant FOMO and bullish sentiment as its price climbed. However, as sentiment became overwhelmingly bullish, the asset corrected, and its price dropped. Santiment explained that this pattern isn't unique to meme coins—markets often move in the opposite direction of crowd sentiment. When sentiment becomes extremely bullish or bearish, it signals an ideal point for buying or selling, making price movements more predictable.
#apechain , #memecoin🚀🚀🚀 , #CryptoNews🚀🔥 , #WhaleTransaction
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Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
ApeCoin Sees a Significant Surge in Whale Transactions
Several crypto projects have witnessed a notable increase in whale transactions, with ApeCoin ($APE ) leading the pack. The ERC-20 cryptocurrency associated with Bored Ape Yacht Club (BAYC) saw an astonishing 2102.56% increase in whale transactions over the past week, with transactions exceeding $100,000.
Dramatic Rise in Whale Activity
According to the latest analysis by Santiment, this figure reflects a 22x increase in ApeCoin whale activity compared to its usual levels. This surge coincided with a nearly 78% price increase for APE over the last seven days, along with a trading volume spike of over 833%, indicating strong market momentum.
The increase followed the highly anticipated launch of ApeChain on October 20, developed by Yuga Labs, the creators of BAYC. ApeCoin DAO voted for the development of this layer 3 network back in January, which is built on Arbitrum One and fully compatible with the APE token. ApeChain supports NFT minting, trading, and decentralized applications, with the goal of enhancing the platform's user experience.
Warning of a Potential Correction
However, Santiment also warned that when a coin sees a significant rise in whale transactions—typically 5x or more than usual—its price tends to move in the opposite direction of its recent trend. For ApeCoin, which has experienced a sharp increase in whale transactions, this could signal an impending price drop. This scenario has already begun to play out, with APE's price experiencing a 15% correction over the last 24 hours.
Bullish Sentiment Peaks Before Correction
In recent weeks, ApeCoin has been one of the best-performing assets, attracting significant FOMO and bullish sentiment as its price climbed. However, as sentiment became overwhelmingly bullish, the asset corrected, and its price dropped. Santiment explained that this pattern isn't unique to meme coins—markets often move in the opposite direction of crowd sentiment. When sentiment becomes extremely bullish or bearish, it signals an ideal point for buying or selling, making price movements more predictable.
#apechain , #memecoin🚀🚀🚀 , #CryptoNews🚀🔥 , #WhaleTransaction
Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
🚨 #BreakingNews: Blockchain analysis firm ScopeScan reveals a specific whale address (starting with 0xbd8c) depositing 3.2 million WLD valued at $5.7 million to Binance in the last hour. 🐋💼 #CryptoDeposit #WhaleTransaction 📢📊
**Whale Withdraws 912,000 AAVE** 🐋: As reported by Ember CN, a prominent whale withdrew 912,000 AAVE tokens, equivalent to $7.6 million, from Binance just 40 minutes ago. This whale now possesses a total of 175,000 AAVE, marking the second-largest AAVE holding among individual and institutional addresses, excluding centralized exchanges and project teams. 🚀💰 #AAVE #cryptocurrency #WhaleTransaction 📊🔗
🐸📉 PEPE Whale Sell-Off Triggers Price Decline 📉🐸
🗓️ Key Events:
Token Launch: PEPE, an Ethereum-based meme token, launched on April 17, 2023.
Whale Accumulation: An early PEPE investor gathered 1.73 trillion tokens at the token's inception.
Sell-Off Move: The whale recently dumped its entire PEPE holdings for ETH, realizing an 85.7% profit.
💰 Financial Details:
Initial Purchase: Whale bought 1.73 trillion PEPE tokens in April and May 2023.
Purchase Price: Acquired at $0.00000005406, equivalent to $936,000.
Sell-Off Transaction: 1.731 trillion PEPE exchanged for 742.6 ETH at $0.000001004.
Profit: Whale realized $802,500, marking an 85.7% profit from the sales.
📉 Price Impact:
Immediate Decline: PEPE price dropped 11% within 24 hours after the whale's sell-off.
Current Value: PEPE down 10.82% to $0.0000009414 at the time of writing.
🔍 Suspicious Activity and Clarifications:
Flagged Activity: Over the weekend, PEPE detected suspicious activity on its deployer.
Denial of Association: PEPE clarifies that the deployer wallet's actions are not linked to the remaining team.
Ex-Team Members: Attributes suspicious transactions to former team members who allegedly stole from the PEPE treasury.
📊 Post-Sell-Off Market Sentiment:
Bearish Trend: PEPE experiences a significant decline, reaching nearly three-month lows.
Market Response: Bearish sentiment intensified following Bitcoin spot ETF approval.
🔗 Project Distinction:
Independence: PEPE emphasizes its separation from any other projects or tokens.
🌐 Implications:
Investor Caution: The sell-off raises concerns and prompts caution among PEPE investors.
Team Vigilance: Projects face challenges posed by suspicious activities and the need for vigilant team monitoring.
🐸💸 PEPE's Market Faces Impact as Whale Capitalizes on Profits! 💸📉
#PEPE #WhaleTransaction #MarketImpact #Write2Earn #TradeNTell $PEPE $BTC $SOL
🗓️ Key Events:
Token Launch: PEPE, an Ethereum-based meme token, launched on April 17, 2023.
Whale Accumulation: An early PEPE investor gathered 1.73 trillion tokens at the token's inception.
Sell-Off Move: The whale recently dumped its entire PEPE holdings for ETH, realizing an 85.7% profit.
💰 Financial Details:
Initial Purchase: Whale bought 1.73 trillion PEPE tokens in April and May 2023.
Purchase Price: Acquired at $0.00000005406, equivalent to $936,000.
Sell-Off Transaction: 1.731 trillion PEPE exchanged for 742.6 ETH at $0.000001004.
Profit: Whale realized $802,500, marking an 85.7% profit from the sales.
📉 Price Impact:
Immediate Decline: PEPE price dropped 11% within 24 hours after the whale's sell-off.
Current Value: PEPE down 10.82% to $0.0000009414 at the time of writing.
🔍 Suspicious Activity and Clarifications:
Flagged Activity: Over the weekend, PEPE detected suspicious activity on its deployer.
Denial of Association: PEPE clarifies that the deployer wallet's actions are not linked to the remaining team.
Ex-Team Members: Attributes suspicious transactions to former team members who allegedly stole from the PEPE treasury.
📊 Post-Sell-Off Market Sentiment:
Bearish Trend: PEPE experiences a significant decline, reaching nearly three-month lows.
Market Response: Bearish sentiment intensified following Bitcoin spot ETF approval.
🔗 Project Distinction:
Independence: PEPE emphasizes its separation from any other projects or tokens.
🌐 Implications:
Investor Caution: The sell-off raises concerns and prompts caution among PEPE investors.
Team Vigilance: Projects face challenges posed by suspicious activities and the need for vigilant team monitoring.
🐸💸 PEPE's Market Faces Impact as Whale Capitalizes on Profits! 💸📉
#PEPE #WhaleTransaction #MarketImpact #Write2Earn #TradeNTell $PEPE $BTC $SOL
