Crypto Whale Dumps $1.53M Worth of PEPE Coins, Accumulates EIGEN Tokens

A crypto whale has capitalized on the current decrease in Ethereum prices to boost his crypto investments. The big investor sold 74.07 billion PEPE tokens (valued at $1.53 million) and bought 448.1 ETH today when ETH prices were trading down.

A crypto whale has boosted his crypto investments as ETH prices continue to trade lower. The large investor sold 74.07 billion PEPE tokens (valued at $1.53 million) and bought 448.1 ETH on Friday, November 25, 2024, as per data shared by Lookonchain.

The trader is still accumulating EIGEN. In the last two days, he sold 181.3 ETH for 217,348 EIGEN tokens (worth $612,000). The whale currently holds 1.608 million EIGEN tokens ($4.31 million) with a $479,000 profit (11%).

PEPE price at risk

Pepe is facing the danger of witnessing a price slump as the big investor has sold $1.53 million in PEPE coins. Lookonchain further disclosed that in the past three days, the whale has sold 130.2 billion PEPE tokens (worth $2.71 million) for 891 ETH. According to Lookonchain, the trader still holds 3.241 trillion PEPE tokens with a $64.1 million profit.

Pepe is currently trading at $0.00002015, down 2.1% in the last 24 hours and 4.20% in the last seven days.

The move by the trader signals that Ethereum is attracting the attention of crypto whales who are increasing their Ether holdings. The concentration of Ethereum by big holders has reached 60%, indicating that the percentage of circulating supply held by large investors is increasing.

As big investors continue to accumulate Ether holdings, their next move will be interesting to watch.

EIGEN emerges as an attractive investment

The trader is not the only one buying EIGEN tokens. Eigen is currently attracting the attention of whales, with an increasing number of large investors accumulating the tokens in large quantities. This intentional buying indicates a strong belief in the asset’s potential for growth. By increasing their positions in Eigen holdings strategically, their actions suggest a deliberate move beyond speculation.

Large investors are not limited to Bitcoin and Ether, and their investments span multiple cryptocurrencies. Their significant holdings of Eigen tokens contribute to the asset’s rising trading volume. EIGEN is up 21.20% in the past seven days, outperforming the global crypto market which is up 8.40%.

Large investors often capitalize on price discrepancies across different cryptocurrencies, buying tokens at lower prices and selling them at higher prices.