The crypto market started the week with turbulence as a PEPE whale made a bold move, selling off 130 billion tokens and redirecting funds to the Ethereum-based EIGEN token. This strategic shift has sparked speculation about the future of both tokens.
Whale’s Massive Sell-Off Shakes PEPE Market
Over the past three days, the PEPE whale liquidated 130.2 billion PEPE tokens, generating $2.71 million in Ethereum (ETH). In their latest transaction, the whale sold 74.07 billion PEPE for 448.1 ETH. Despite the sell-off, the whale still holds a staggering 3.241 trillion PEPE tokens, having amassed a 12.6x return worth $68.3 million from their PEPE investments.
PEPE’s price has been under pressure following the whale’s actions, dropping 2% daily and 5% weekly to $0.00002026. Over the past 24 hours, the token traded within a range of $0.00001918 to $0.00002086, struggling to recover from the market’s selling pressure.
EIGEN Rises Amid Strong Buy Interest
In contrast, EIGEN has surged thanks to strong buying momentum. The token gained 7% daily and 23% weekly, climbing to $3.06. With a 24-hour trading range of $2.56 to $3.07, EIGEN has captured the attention of investors, positioning itself as a standout performer in the Ethereum ecosystem.
Market Implications and Investor Focus
The whale’s strategic reallocation from PEPE to EIGEN highlights shifting dynamics within the market. While PEPE investors brace for continued volatility, EIGEN’s upward trend has raised optimism about its future potential.
Stay tuned to Turkish NY Radio for the latest updates on these tokens and the broader cryptocurrency market.
