Speaking at the Bloomberg Wealth Asia Summit 2023 held in Hong Kong today, Venn Link CEO talked about risky crypto investments like DOGE and PEPE.
Safest strategy for PEPE and DOGE investors
Venn Link CEO Cici Lu specifically covers the DOGE, SHIB, FLOKI and recent PEPE craze. According to Lu, “Having diversification and active management is pretty important when it comes to investing in cryptocurrencies.”
The expert emphasizes that diversification and active management should be fundamental principles, especially in the volatile cryptocurrency market. Different cryptos often react differently to market changes. Therefore, diversifying investments is a logical choice to reduce losses. Active management ensures maximizing returns. Doing so is time consuming and develops with experience.
"When it comes to investing in crypto assets, it's really important to have diversification and active management." Venn Link CEO, Cici Lu shares her thoughts on the volatile asset class with @BradStone #BBGWealthAsia pic.twitter.com/IH8cyi685Z
— Bloomberg Live (@BloombergLive) May 9, 2023
When it comes to meme coins, diversification should include more established cryptos like Bitcoin and Ethereum. By doing this, investors reduce the risk of putting all their choices in one basket and incurring significant losses.
Venn Link CEO spoke about the importance of diversification and active management in his statements today in Hong Kong. On the other hand, Pepe Coin, which has provided 4,400% returns to its first investors since April 14, is diverting the risk appetite of investors in another direction.
Top 15 Pepe Coin whales make mind-blowing profits
According to Lookonchain’s analysis, the 15 largest Pepe whales have 38.07 trillion PEPE, accounting for 9.05% of the entire circulating supply. These whales have generated an impressive income from crypto investments with total profits of $92.6 million.
The data also revealed that the average cost of purchase for these whales was $0.0000000853.
Here are the top 15 holders of $PEPE(excluding exchanges and contract addresses).
They hold 38.07 $PEPE, 9.05% of the total supply.
They all made profits on $PEPE, with a total profit of $92.6M, and the average buying cost is $0.0000000853.https://t.co/yXjywV7WvY pic.twitter.com/N3Joy7ZoYv
— Lookonchain (@lookonchain) May 8, 2023
As profits intensify, could a sharp decline occur?
After several weeks of significant increase in the price of PEPE, the value of PEPE has fallen by over 50% in the last 5 days due to the spike in investor profits. According to the data, PEPE is returning at the same rate, five days after the ATH level reached $0.000004354.
According to Santiment, PEPE’s supply on exchanges has increased by over 3000% since May 4. At the time of this writing, 106.46 trillion PEPEs were hosted on cryptocurrency exchanges. Five days ago, that was just 3.12 trillion tokens.
Conversely, the number of off-exchange tokens decreased by 18% during the same period, according to data from Santiment.
This decline in whale holdings was indicative of the overall market sentiment following PEPE over the past few days. Most meme coins that do not offer any real value will revert to their former positions when the hype wears off. As Cryptokoin.com has reported, the biggest trump card in PEPE’s hands at the moment is the support of major centralized exchanges.
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