The Pepe Coin whale caused a stir among market participants by selling over 130 billion PEPE in a matter of days, thereby redirecting attention to EIGEN.
A super Pepe Coin whale has shifted focus to EIGEN, which has sparked significant market discussions amid a highly turbulent crypto market as the week begins. It is important to note that on-chain data indicated a substantial 130 billion PEPE whale selloff, and the investor simultaneously diversified his portfolio by purchasing over 200K of the Ethereum-based token.
The meme coin’s slumping action and the EigenLayer ecosystem token’s gaining action, which occurred amid this swap of positions, sparked waves of speculation regarding the future trajectories of the coins.
The Super Pepe Coin Whale has redirected its investments and acquired EIGEN
As of November 25, a super whale sold 74.07 billion in Pepe Coin for 448.1 ETH, equivalent to $1.53 million, according to whale data from Spot On Chain. This transaction occurred following a recent decline in the price of Pepe Coin. Over the past three days, the same whale was observed offloading 130.2 billion meme coins, which are valued at $2.71 million, for 891 ETH. Despite the market tension that resulted from this extensive selling, it is essential to note that the super whale continues to possess 3.241 trillion Pepe Coin, resulting in a 12.6x profit of $68.3 million.
Nevertheless, the same whale also concentrated on purchasing EIGEN, exchanging 181.3 ETH for 217,348 of the Ethereum-based token in the past two days. The whale currently possesses 1.608 million EigenLayer tokens, valued at $4.31 million, and has generated an 11% profit. In general, the trade swap has generated substantial optimism regarding the primary token of the EigenLayer ecosystem, and market observers are closely monitoring the leading meme coin.
PEPE and EIGEN prices exhibit a range of reactions
The Ethereum-based coin experienced a rise in value, capitalizing on the buying pressure, as the meme coin’s price declined by the selloff by the super Pepe Coin whale. The price of PEPE was $0.00002026, down 2% intraday and 5% weekly. The 24-hour low and high were $0.00001918 and $0.00002086, respectively.
In contrast, the price of EIGEN increased by nearly 7% intraday and 23% every week, ultimately reaching $3.06. The 24-hour low and high of the coin were $2.56 and $3.07, respectively. Despite the substantial accumulation of the Ethereum-based token, crypto market participants are still optimistic about its future. However, the remaining PEPE holdings add a layer of intrigue to the price action of the leading meme coin.
Intriguingly, CoinGape Media’s most recent analysis of the Pepe coin price indicated that the meme coin is aiming for a $0.000025 target, which has the potential to generate substantial additional momentum. This optimistic forecast is made against bullish technical formations on the price chart of the frog-themed cryptocurrency. As the broader market exhibits price fluctuations, market observers closely monitor both coins for future volatility.
