A whale spent $3.13M on 420B PEPE tokens, now up $170K (+5.4%).
The same whale invested $7.05M in 2,978 ETH during a market dip, gaining $534K (+7.58%).
Crypto traders see the whale’s moves as bullish, indicating confidence in PEPE and Ethereum’s future.
A crypto whale identified as “cookislandstrust.eth” has been accumulating PEPE tokens during market dips, spending a total of 3.13 million USDT to purchase 420 billion PEPE across two transactions in the last seven days. The first major buy occurred during the big market crash on August 5, with another purchase made just a few hours ago. The whale’s strategic buys have resulted in a profit of $170,000, representing a 5.4% gain.
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
Apart from PEPE, the whale also capitalized on the market downturn on August 5 to acquire 2,978 ETH, spending 7.05 million USDT. This move has proved lucrative, with the whale now sitting on an unrealized gain of $534,000, amounting to a 7.58% increase.
Crypto enthusiasts and traders are closely following the activities of “cookislandstrust.eth,” as the whale’s moves indicate a keen sense of timing and market understanding. Their buying activity can be interpreted as a bullish signal, as it suggests growing optimism that the price of these assets will rise in the future.
The popular Pepe coin is facing major obstacles as it has plummeted 15% in the last 7 days. Despite the price drop, PEPE continues to attract the attention of large investors. This could indicate growing confidence in the meme coin’s long-term prospects, potentially capturing the interest of other investors.
Additionally, the whale’s decision to invest in Ethereum during a market downturn reflects the altcoin’s status as a safe-haven asset. This reinforces Ethereum’s position as a dominant player in the crypto market.
Altogether, the whale’s significant profits from both PEPE and ETH investments demonstrate the potential rewards of timing the market correctly. However, it’s essential to note that such profits are not guaranteed and involve significant risks.
The whale’s recent activities serve as a reminder of the volatility and opportunity present in the cryptocurrency market. While it is crucial to conduct thorough research before making investment decisions, the actions of such large investors can provide valuable insights into market sentiment.
The post Crypto Whale Buys the Dip: Accumulates PEPE and ETH appeared first on Coin Edition.
