There has been an active whale investor within the last week with the username “cookislandstrust.eth” making transactions in the PEPE and Ethereum (ETH) markets. This investor has been well known for his ability to buy efficiently during a dip. Spot On Chain shows the latest activities of the identified whale, who has invested mainly in PEPE and Ethereum; this could alter the courses of these tokens.
In the last seven days, “cookislandstrust.eth” invested $3.13 million in USDT to acquire 420 billion PEPE tokens. All these purchases happened on two occasions, including a broad purchase during a market dump on August 5. This strategic timing allowed the whales to position themselves for a gain of $170,000, reflecting a 5.4% increase in the value of the PEPE tokens.
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Significant Investment in Ethereum
In addition to the PEPE acquisition, the whale invested substantially in Ethereum. They spent $7.05 million in USDT to purchase 2,978 ETH. This purchase was also executed around the market’s bottom on August 5, underscoring the whale’s keen sense of timing. As such, the ETH holding has provided an unrealized appreciation of $534,000, or a 7.58% increase in value.
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Source: CRYPTO IVANOV
Another analysis from CRYPTO IVANOV shows that the PEPE price remains to have a bullish trend in the daily structure. Following a correction and subsequent manipulation that led to the price drop to the current lower level, the stock is well placed for an accumulation of liquidity. The analysis highlights that the target price may reach the open liquidity peaks at the high-level range, indicating that there may be bullish charts for PEPE shortly.
As of this press time, the price of PEPE was hovering at $0.000008004, and as such, has a market capitalization of $3.37 billion. Meanwhile, Ethereum was trading at $2,574.02, with a market cap of $309.42 billion. The 24-hour trading volume for ETH increased by 72.91%, reaching $15.52 billion.
In conclusion, the recent market activity by “cookislandstrust.eth” underscores the potential for substantial impacts on PEPE and Ethereum. The mentioned investments by the whale are rather well-timed, and its buying spree during the lows can positively impact the further performance of these cryptocurrencies. Investors and market analysts should not overlook such events as these may portray further investment chances in the growing crypto markets.
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Maxwell Mutuma
Maxwell is a crypto-economic analyst and Blockchain enthusiast, passionate about helping people understand the potential of decentralized technology. He writes extensively on topics such as blockchain, cryptocurrency, tokens, and more for top publications such as Coingape, Coin Edition, and The Coin Republic. His goal is to spread knowledge about this revolutionary technology and its implications for economic freedom and social good.