Crypto Whales Scoop Up Pepe Tokens During Market Dip As Dogecoin, Shiba Inu Interest Fades
Portfolio Pulse from Aniket Verma
Crypto whales are accumulating Pepe (PEPE) tokens during a market dip, while interest in Dogecoin (DOGE) and Shiba Inu (SHIB) fades. A whale named 'cookislandstrust.eth' spent 3.13 million Tether (USDT) to buy 420 billion PEPE, netting a profit of $170,000. The number of large PEPE transactions increased by 161% in the last 24 hours. Meanwhile, Dogecoin saw a decline in HODLers balance, and Shiba Inu's long-term holdings rose at a weaker pace.
August 12, 2024 | 3:54 am
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NEGATIVE IMPACT
Bitcoin (BTC) experienced a significant drop due to geopolitical tensions in the Middle East.
Geopolitical tensions often lead to market uncertainty, causing a drop in major cryptocurrencies like Bitcoin.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
NEGATIVE IMPACT
Dogecoin (DOGE) saw a decline in HODLers balance, indicating reduced interest from long-term investors.
The decline in HODLers balance suggests that long-term investors are losing interest in Dogecoin.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Ethereum (ETH) also recorded a significant drop due to geopolitical tensions in the Middle East.
Similar to Bitcoin, Ethereum is affected by market uncertainty caused by geopolitical tensions.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
NEUTRAL IMPACT
Shiba Inu (SHIB) saw a weaker increase in long-term holdings compared to PEPE, indicating less aggressive accumulation.
While there is some accumulation, the pace is slower compared to PEPE, indicating less aggressive buying.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 60
POSITIVE IMPACT
Pepe (PEPE) saw increased interest from whales, with significant buying activity despite a market dip.
The aggressive buying by whales and increased large transactions indicate strong interest and potential for price recovery.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80