Whales Are Dumping Pepe As Smart Money Investors Buy This New Meme Coin Instead
Release: 2024/08/15 23:51 Reading: 698
Whales Offload Pepe Holdings Amidst Market Uncertainty
Data from Lookonchain indicates that whales are selling off their Pepe positions. For example, a whale who recently purchased $3.13 million worth of PEPE sold all their coins for a profit of only $30,000.
Whale Sell-Offs Raise Concerns
Another whale also sold a significant portion of their PEPE holdings, incurring a loss of over $2 million. These sell-offs may suggest that a larger crypto crash could be imminent.
Smart Money Investors Look to Alternative Meme Coins
Meanwhile, smart money investors are reportedly buying new meme coins, including Pepe Unchained.
Reasons for Whale Sell-Offs
The recent decline in Pepe's price, combined with geopolitical tensions and concerns about a global financial downturn, may have prompted whales to sell their holdings.
Uncertainty in US Politics
The uncertainty surrounding the upcoming US election may also be contributing to the sell-offs, as polls show a narrowing lead for pro-crypto candidate Donald Trump.
Positive Outlook for Short-Term Prospects
Despite the sell-offs, some experts remain bullish about Pepe's short-term prospects, viewing any decline as a buying opportunity.
New Meme Coins Gain Traction
Smart money investors are also investing in presale tokens and new meme coins that offer staking rewards or other value propositions.
Pepe Unchained Presale Draws Attention
Pepe Unchained (PEPU), a new meme coin with its own Layer-2 blockchain, has gained popularity among investors due to its low trading costs and high staking rewards.
Disclaimer
This article is provided for informational purposes only and should not be taken as investment advice.
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