Whales in Action: Significant Transactions Highlighted for PEPE Coin (PEPE) and Three Other Cryptocurrencies

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The cryptocurrency market continues to fluctuate due to significant investments and asset movements by whales (large investors).
Notable developments in the last 24 hours include an investment in the memecoin Pepe (PEPE coin), the Ethereum Foundation’s ETH sale, and Bitcoin whales’ accumulation activities.
These whale movements serve as important signals for investors, providing insights into general market trends and potential opportunities.

Explore the latest developments in the cryptocurrency market, with a focus on recent whale activities involving Pepe (PEPE coin), Ethereum (ETH), and Bitcoin (BTC).

Significant Movements for PEPE Coin

Pepe (PEPE coin), which experienced a significant rise and subsequent decline in recent times, is attracting attention. The data analysis platform, Spot On-Chain, detected that a whale, known as 0x546, purchased 331.3 billion PEPE (approximately $2.24 million) via the Binance exchange. This investment is particularly notable due to the whale’s use of a Binance deposit address, which indicates that they are a savvy investor who sold all their UNI assets before the price drop, thus making a profit. Over the past three days, the whale has withdrawn a total of 660.7 billion PEPE (approximately $4.57 million) from the Binance and MEXC exchanges. This activity suggests the whale’s long-term belief in PEPE and expectation of a price rise.

Ethereum Foundation Executes ETH Sale

The Ethereum Foundation sold 100 ETH (approximately $290,000) via Cowswap on May 2. This sale occurred parallel to the recent downward trend in ETH prices. Some analysts suggest that the sale was due to the Ethereum Foundation’s funding needs and could also be a precaution against general market uncertainty.