PEPE meme coin crashed 2.56% in the past day after a super PEPE whale sold a massive 74.07 billion tokens and bought EIGEN tokens worth $200K.
A whale wallet holding a humongous amount of Pepe PEPE $0.000007 24h volatility: 4.3% Market cap: $3.10 B Vol. 24h: $390.93 M meme coins has swapped its holdings for EIGEN EIGEN $1.19 24h volatility: 9.6% Market cap: $464.49 M Vol. 24h: $109.81 M , the native token of EigenLayer, an Ethereum restaking protocol, while selling a whopping 130 billion in PEPE tokens. The transfer suggests that crypto investors are now capitalizing on the gains from meme coins and investing money in major altcoins.
As pointed out in a post on social media platform X (formerly Twitter) by Spot On Chain, a blockchain analysis platform, the “super PEPE whale,” over the last 3 days, sold a whopping $130.2 billion PEPE (worth approximately $2.71 million) for 891 ETH ETH $4 205 24h volatility: 6.9% Market cap: $506.40 B Vol. 24h: $29.22 B . The whale has 3.241 trillion PEPE (worth over $64.1 million) with a $68.3 million profit (amassing profits worth 12.6x).
On November 25th, the whale sold a substantial 74.07 billion PEPE (worth $1.53 million) for 448.1 ETH, as per the transaction data from Spot On Chain. The super PEPE whale then used the funds to acquire EIGEN, swapping 181.3 ETH for another 217,348 EIGEN (worth around $612,000) in the past 2 days. The whale now holds 1.608 million EIGEN (close to $4.31 million) with a profit of $479,000.
The price of PEPE dropped 2.56% in the past 24 hours, while crashing 5.21% in the last seven days. This could be the super PEPE whale cashing out after significant profit. Moreover, in the past month, PEPE has surged 124.34% while jumping 1689% since November 2023.
It is important to note that PEPE is ranked 19th on CoinMarketCap and is the third-largest meme coin with a market capitalization of $8.54 billion. Additionally, PEPE was listed on Coinbase and Robinhood crypto exchanges earlier in November, which resulted in the digital asset printing a new all-time high of $0.00002524. At the time of writing, the meme coin is trading at $0.00002028, down 19.77% from its ATH.
EIGEN Price Trajectory Looks Bullish
CoinMarketCap confirmed that EIGEN has surged to $3.03 after a 5.37% price surge in the past 24 hours. The cryptocurrency has a market capitalization of $566.58 million and a volume of $229.36 million, down 6.75% in the past day. The altcoin has an all-time high of $4.53 and is currently down 33% from the same.
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Source: TradingView
In the past seven days, EIGEN has risen 25.78%, followed by a 7.57% surge in the past month. However, the altcoin is down 18.04% since its debut in September. Meanwhile, the Relative Strength Index (RSI) on the EIGEN daily chart above reads a value of 55, which means that the bulls are currently in control of the altcoin’s price action but the gradient of the line suggests higher prices.
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