This post was originally published on Bitcoinist
As you might know, crypto whale movements often serve as a harbinger of significant market shifts. Recently, the spotlight has been on Pepecoin (PEPE), as whales have started accumulating large amounts of the token despite its recent price dips. This resurgence in whale activity has also brought attention to a new player in the meme coin arena Mpeppe (MPEPE). As trading volume for PEPE surges by 27%, these whales are not just buying more PEPE but are also diversifying into Mpeppe, indicating a potential shift in market dynamics.
PEPE Whales Accumulate Despite Recent Losses
Pepecoin (PEPE) has experienced a roller-coaster ride in the past few weeks, with its price experiencing significant fluctuations. Despite these challenges, whale investors those who hold massive amounts of a cryptocurrency have been doubling down on their Pepecoin (PEPE) holdings. According to recent data from Spot On Chain, two whale wallets accumulated a staggering 828.8 billion Pepecoin (PEPE) tokens, worth approximately $6.2 million, from Kraken on August 17th.
What makes this accumulation particularly interesting is that these whales had previously sold 500 billion Pepecoin (PEPE) just days before, at a higher price point. This strategic move of selling high and buying back at a lower price
— Read the rest of this post, which was originally published on Bitcoinist.
