The cryptocurrency market is awash with new activity by whales. According to Lookonchain data, a cryptocurrency whale that recently sold large amounts of Ethereum turned to these altcoins! Here are the details…
This cryptocurrency whale bought PEPE by selling their Ethereum!
Recently released on-chain data shows that a cryptocurrency expert who has perfectly appreciated the rise of the meme coin PEPE has doubled down on his large investments. First, the “smart coin” Ethereum (ETH) address gained over 4,500 percent by buying PEPE early, according to data from on-chain data analytics platform Lookonchain.
However, Lookonchain data reveals that the same cryptocurrency expert bought PEPE again after the price drop, after making big gains. According to on-chain data, the trader made more PEPE purchases by selling their Ethereum on UniSwap.
A “Smart Coin” earning 1.219 ETH worth $2.2 million from PEPE spent 1.173 ETH worth $2.1 million to buy 1.33 trillion PEPE again… He chose $0.000001586 as the buy price.
The trader bought 2.24 trillion PEPE with 26 ETH at $0.00000002166. He then sold it for 1,245 ETH at $0.0000009985 with 48x profit.
Popular analyst points bullish for PEPE!
Altcoin Sherpa, one of the leading cryptocurrency analysts in the cryptocurrency market, recently made critical comments by focusing on PEPE. He said that current price levels could be a good spot for bulls to enter bids. He says he expects PEPE to eventually go much lower, but a move higher is still on the table in the short term. Here are the words of the analyst:
This is the area I’m currently looking at ($0.00000112). I would expect something like this, we would go around and then maybe move up ($0.0000023) and then go down. To be clear, it wouldn’t surprise me at all that this would eventually drop further, and my position is really just ‘scalping’. I will only consider the next ascent.
As reported by Kriptokoin.com, the popular meme coin PEPE is instantly traded at $0.00000171.
Another altcoin targeted by whales is LDO!
According to the data shared by crypto money experts, another altcoin targeted by altcoin whales is LDO. With the launch of Lido V2, May 16 Lookonchain data reveals that 3 giant cryptocurrency whales have increased their LDO holdings in the past week. “0x9EA7” purchased 724,822 LDOs of approximately $1.52 million at a price of $2.01 from the giant cryptocurrency exchange Binance. However, “0x4E4e” spent $1.38 million buying 655,641 LDOs from Binance for $1.83. Finally, “0x9eda” made a purchase of 570,883 LDOs with 974 thousand USDC at a value of 1.71 dollars on May 12.
Due to the launch of Lido V2, we noticed 3 whales accumulating $LDO in the past week.
– 0x9EA7 withdrew 724,822 $LDO($1.52M) from #Binance at $2.01.
– 0x4E4e withdrew 655,641 $LDO($1.38M) from #Binance at $1.83.
– 0x9eda bought 570,883 $LDO with 974K $USDC at $1.71 on May 12. pic.twitter.com/S0cNUxpLw0
— Lookonchain (@lookonchain) May 16, 2023
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