PEPE and FLOKI Dip 7% as Whales Continue Massive Investments

Big investors are putting down big money on PEPE and FLOKI, hoping these meme tokens will keep skyrocketing in value.

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A prominent crypto whale acquired 211.6 billion PEPE tokens within a single day, while another investor accumulates FLOKI ahead of the Valhalla mainnet launch. PEPE also surged with over $1 billion in daily trading volume, surpassing SHIB.


Meme Coins Rally: Top Gainers and Surprises

The meme coin market witnessed a resurgence this week, with several major-cap meme currencies vying for higher positions in the crypto charts. Notably, top 50 meme coins like Shiba Inu (SHIB), Pepe (PEPE), and Dogwifhat (WIF) recorded double-digit gains, reflecting renewed investor interest.

However, it was the lower half meme coins of the top 100 that stole the spotlight, challenging the dominance of more popular meme coins. Floki (FLOKI) particularly stood out with a remarkable 35% weekly upswing, signaling growing momentum in this segment of the market.

In a surprising turn of events, Solana’s Bonk (BONK) emerged as the top gainer in weekly terms, experiencing a staggering 73% increase over the past 7 days. This unexpected surge underscores the dynamic nature of the meme coin market and highlights the potential for lesser-known tokens to make significant gains.

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Crypto Whales Seize Opportunities in Meme Coin Fluctuations

In the dynamic world of cryptocurrency, whales are leveraging the volatility of meme coins to their advantage. One such example is the internationally recognized crypto whale known as rektdolphin.eth, who made a significant move by accumulating billions of PEPE tokens on April 24, 2024.

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According to reports from the cryptocurrency whale tracking agency SpotOnChain, Whale 0x803, linked to rektdolphin.eth, has been steadily amassing 211.6 billion $PEPE tokens over the past 24 hours, amidst a 17% surge in price.

SpotOnChain’s analysis reveals that this whale strategy involves accumulating PEPE tokens from various crypto exchanges. In this instance, rektdolphin.eth utilized platforms like Binance, Gate.io, and UniSwap to acquire a total of 211.6 billion PEPE coins at an approximate price of $0.000007291, amounting to a hefty investment of $1.54 million.

Crypto Whales Make Waves in Meme Coin Markets

Amidst the whirlwind of meme coin fluctuations, crypto whales like rektdolphin.eth are capitalizing on potential profits. rektdolphin.eth’s recent moves have potentially yielded $19.79K in unrealized profits, as their on-chain wallet now holds a staggering 259.821 billion PEPE tokens, approaching a market value of $2 million. At the time of writing, PEPE is trading at $0.000007369, reclaiming its position among the top 50 cryptocurrencies by global market cap after a 50% surge over the past 7 days.

One notable advantage PEPE holds over its meme coin counterparts is its substantial trading volume, which has consistently exceeded $1 billion in daily trades.

Similarly, the Viking dog-themed meme coin FLOKI (#61) has seen a parallel trajectory to PEPE, reaching its weekly peak at $0.0002036 on April 24, 2024. However, both PEPE and FLOKI experienced a 7% retracement amid today’s crypto market correction.

In line with rektdolphin.eth’s strategy, other whales are also accumulating FLOKI tokens in self-custodial wallets. For example, one crypto whale exchanged 137.20 Ether (ETH) for 2.48 billion FLOKI tokens on April 21, 2024.

This move preceded FLOKI’s weekly peak three days later, showcasing the potential for substantial profits. Currently, FLOKI is trading at $0.000184, falling below a total market cap of $2 billion. However, FLOKI supporters anticipate a bullish breakthrough following the Valhalla mainnet launch later this year.

In Summary

In the meme coin realm, PEPE and FLOKI have shown similar price movements, but their liquidity differs significantly. PEPE boasts a combined liquidity book with $60 million in pending orders in spot markets, whereas FLOKI’s pending orders total just $11 million, indicating over five times less liquidity than PEPE. This liquidity gap is noteworthy considering FLOKI’s longer tenure compared to PEPE. The meme currency sector experienced its most successful month in history last March, igniting a market-wide bull rally that reached a peak of $56 billion.


Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

 

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