Amidst a very turbulent crypto market seen earlier this week, a super whale Pepe Coin shifting its focus to EIGEN sparked significant market chatter. Notably, on-chain data highlighted a massive sell-off of 130 billion PEPE whales, with the investor simultaneously diversifying his portfolio by purchasing over 200,000 Ethereum-based tokens.
This trading of positions, amid collapsing action observed by the meme coin and winning action observed by ecosystem token EigenLayer, sparked waves of speculation about future coin trends.
Super Pepe Coin Whale refocuses its investments and buys EIGEN
According to the whale data by Spot On Chain As of November 25, a super whale sold 74.07 billion Pepe Coin worth $1.53 million for 448.1 ETH as the price declined recently. The same whale was recorded offloading 130.2 billion meme coins, worth $2.71 million, for 891 ETH over the past three days. Although this massive sell-off caused market tension, it is worth noting that the super whale still holds 3.241 trillion Pepe Coin, with a 12.6x profit of $68.3 million.
However, the same whale has also focused on buying EIGEN, trading 181.3 ETH for 217,348 Ethereum-based tokens over the past two days. The whale currently holds 1.608 million EigenLayer tokens, worth $4.31 million, with a profit of 11%. Overall, the trading exchange has generated considerable optimism towards the main token of the EigenLayer ecosystem, as market observers monitor market developments. main coin closely.
PEPE and EIGEN prices show mixed actions
As the meme coin’s price fell, aligning with super whale Pepe Coin’s selloff, the Ethereum-based coin rose, taking advantage of the buying pressure. PEPE price was down 2% intraday and 5% weekly, trading at $0.00002026. Its 24-hour low and high were $0.00001918 and $0.00002086, respectively.
While EIGEN price soared almost 7% intraday and 23% weekly, reaching $3.06. The coin’s 24-hour low and high were $2.56 and $3.07, respectively. While crypto market participants remain bullish on the Ethereum-based token in light of the massive accumulation, PEPE’s remaining massive holdings add a layer of intrigue to the leading coin’s price action future.
Interestingly, a recent Pepe Coin Price Analysis by CoinGape Media reported that the meme coin is aiming for a target of $0.000025, with significant upside potential for further momentum. This optimistic projection comes against the backdrop of bullish technical formations on the frog-themed crypto price chart. Market observers continue to monitor both coins for future changes in price action, as the market as a whole continues to exhibit price flows.
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Disclaimer: Content presented may include the author’s personal opinion and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication assumes no responsibility for your personal financial loss.
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