Meme Coin Whales on the Move: Stacking Up on PEPE, Dumping WIF

TL:DR; Whales continue to make big moves in the cryptocurrency market, and some keep accumulating PEPE. At the same time, others have decided to possibly part with WIF holdings and secure substantial profits. Lookonchain data has repeatedly outlined the growing demand from large investors toward the third-largest meme coin – PEPE. The latest substantial acquisition came hours ago as two wallets, perhaps belonging to the same entity, spent almost $5 million in USDC to accumulate over 190 billion PEPE. This came amid the asset’s price rally that pushed it beyond $0.000026 for the first time ever on Saturday evening. Whales are buying $PEPE ! 2 wallets (likely belonging to the same whale) spent 4.89M $USDC to buy 190.14B $PEPE at an average price of $0.00002572 in the last 6 hours! Address: 0xcb1f2b9562a7a4e2029db54d504dfe4b1e46b7dc 0xb721c74a0a1c97187146d1fe7df94a9d8752481d pic.twitter.com/LomPm6rg4F — Lookonchain (@lookonchain) December 8, 2024 Whales have been on a buying spree in the past few months, which only accelerated after the US elections as the self-proclaimed ‘pro-crypto’ choice – Donald Trump, secured a landslide win. However, another large investor has showcased a different attitude toward another popular meme coin, WIF. More Lookonchain data indicated that they deposited $9.5 million worth of the asset to Coinbase, perhaps to offload the fortune. In case they indeed sell the tokens, they will realize a net profit of around $8.5 million as they accumulated the stash nearly a year ago. A whale deposited 2.78M $WIF ($9.5M) to #Coinbase 12 hours ago. This whale spent 9,300 $SOL ($1.02M at that time) to buy 2.78M $WIF 10 months ago, with a profit of $8.48M! https://t.co/8eukHbOQtL pic.twitter.com/hkoJe6PoK8 — Lookonchain (@lookonchain) December 7, 2024 The post Meme Coin Whales on the Move: Stacking Up on PEPE, Dumping WIF appeared first on CryptoPotato .