A Pepe Coin whale ignited a tidal wave of speculation on Monday by dumping a staggering 262 billion tokens despite an ongoing uptrend. On-chain data suggests that this whale thereby redirected its investments into another token, ONDO. In response, market participants are now speculating over relatively lesser returns via the frog-themed meme token, whilst the DAO crypto remains bullish.
Pepe Coin Whale Offloads 262B PEPE Incurring Loss
According to an X post by Lookonchain on March 3, a Pepe Coin whale sold 261.8 billion tokens worth $2.12 million, marking an alarming loss of $7.05 million. Notably, data signals that the accumulation was made for $9.18 million.
The alarming loss has raised severe investor concerns about meme crypto market volatility. Prior to today’s pump, PEPE, alongside other tokens, witnessed a bloodbath due to macroeconomic developments and liquidity hurdles.
Nevertheless, crypto prices recovered, with PEPE also gaining nearly 10% intraday. The whale’s decision to sell amid this upswing may be to mitigate further losses.
Another Selloff Recorded
Subsequently, data indicated the Pepe Coin whale also sold 531.7 billion BEAM for $4.1 million. This trade maneuver further marked an alarming loss of $7.01 million. Altogether, the whale appears to have used the funds with these selloffs to buy ONDO.
ONDO Accumulation Sparks Buzz Amid 10% Gains
Per the data, this whale thereby moved on to buy 5.25 million ONDO tokens with 6.26 million DAI. Meanwhile, the DAO crypto’s price was up nearly 10% today, closing in at $1.12.
This upswing primarily falls in line with a broader crypto market surge. Bitcoin price briefly re-entered a $95K price level in the past 24 hours. Altcoins also followed a pumping action, mirroring optimism amid broader trends.
Notably, U.S. President Donald Trump recently announced plans to forge ahead with a strategic crypto reserve for Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA). This news appears to have fueled a positive investor sentiment globally.
How Is PEPE Price Performing?
Despite the massive whale selloff, Pepe Coin price visited the crypto market party, surging 7% to $0.000008282. Its intraday low and high were $0.000007569 and $0.000008932, respectively.
Notably, market analyst ‘Crypto-Zeus’ further took X amid the rising action, stating, ‘Good time to be a PEPE holder.’ This optimism is primarily attributed to Trump’s green signal into the crypto market, as mentioned above. Crypto market participants continue to eye both the tokens for further price action shifts.
The post Pepe Coin Whale Shifts Focus To This Crypto; Sells 262B PEPE appeared first on CoinGape.
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