- Recent on-chain data reveals that some cryptocurrency whales are accumulating large amounts of PEPE coin.
- Furthermore, it has been discovered that Maker (MKR) whales are also accumulating the cryptocurrency from Coinbase.
- However, they appear to be in the process of selling two other cryptocurrencies. Here are the details…
Discover the latest movements of crypto whales, as they accumulate PEPE coin and Maker (MKR), while selling off two other cryptocurrencies. Stay updated with the latest trends in the crypto market.
Whales Accumulating PEPE Coin
According to data provided by Lookonchain, a whale with the short address 0xa145 has withdrawn $3.44 million worth of PEPE tokens from Binance. Analysts estimate that this whale has distributed 2.66 million PEPE, potentially making a profit.
What Does the Interest of Whales Mean?
At the time of writing, PEPE is trading at $0.000008. The altcoin is currently the third largest meme coin in the world, behind Dogecoin (DOGE) and Shiba Inu (SHIB). PEPE is trading at a lower region from its all-time high price. The interest of crypto whales in PEPE could indicate a potential price increase for the token. Whales usually conduct detailed research before making a large investment in a cryptocurrency. Therefore, the interest of whales in PEPE could indicate whether the technical and fundamental analyses of the token are strong. However, as always, there is no certainty in the crypto market. The price of PEPE could go up or down depending on various factors. Investors should conduct their own research and assess their risks before postponing any investment.
What Do Other Whale Movements Indicate?
Meanwhile, on-chain data reveals the movements of other cryptocurrency whales.
- MKR Whales Exiting Coinbase: According to The Data Nerd’s tracking, two new packages totaling 2,677 MKR (approximately $7.13 million) drew attention from Coinbase on May 12.
- ENA Investor Suffered a Loss: On May 11, according to @ai_9684xtpa’s tracking, an investor with the address 0x860…B06AE who invested 2.77 million ENA in Ethena three weeks ago, transferred all ENAs to Binance. If the investor had sold all ENAs, there would have been a loss of 224,000 at home.
- Vladilena.eth Converted WeETH to ETH: On May 12, according to @ai_9684xtpa’s tracking, vladilena.eth withdrew 1930 WeETH from Zircult four hours ago, converted it to 2000 ETH, and deposited it into Binance. The transaction value was $5.84 million.
Conclusion
The recent movements of crypto whales indicate a growing interest in PEPE coin and Maker (MKR), with large amounts being accumulated. However, they seem to be selling off two other cryptocurrencies. As always, investors should conduct their own research and assess their risks before making any investment decisions.
