$3 Million PEPE Gamble Sparks Speculation Of Incoming Price Surge

Christian Encila

10 months ago

4 mins read

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Within the past week, an aggressive accumulation of 420 billion PEPE tokens in two transactions worth 3.13 million USDT has been made by a crypto whale identified as “cookislandstrust.eth”. This strategic move, starting at the height of the market dip on August 5, has returned a profit of $170,000—equating to a 5.5% gain.

Whale’s Big Appetite

However, the whale’s action did not stop at PEPE. The same day, they bought nearly 3,000 Ether against 7.05 million USDT during the market slump for an unrealized profit of $534,000, up 7.58%. This double investment in wildly fluctuating PEPE and more stable Ethereum reveals how this whale precisely calculated its actions to generate the most from turbulent market situations.

A whale named “cookislandstrust.eth” is trying to buy $PEPE at dip again!

In the past 7 days, the whale has spent a total of 3.13M $USDT to buy 420B $PEPE on 2 occasions, including the big dump on Aug 5 and 2 hours ago, now making $170K (+5.4%).

The whale also spent 7.05M $USDT… pic.twitter.com/QVnbW5AGYz

— Spot On Chain (@spotonchain) August 12, 2024

Obviously, this big whale regards Ethereum as some form of fortress, especially when turmoil occurs within the markets. The move reflects a far greater sentiment the big guys have: Ethereum remains a safe bet, especially when quakes are experienced in the market. Now, this really shows how calculated this whole shift into various volatile and stable assets was on the part of that whale.

Pepe: Market Response And Investor Sentiment

“Cookislandstrust.eth” loves aggressive buying and has got the whole crypto community talking. Normally, when whales start to go upon bulk buying, people take it as a bullish signal. It simply denotes the fact that these big-time investors are of the view that the prices will go up in the future.

Now, more than ever, it’s in the hands of the traders and market lovers to critically follow the price of PEPE in order to see whether this will be just the tip of the iceberg. Will the whale’s confidence start a larger trend of accumulation?

Analyst Weighs In

PEPE’s performance in the recent past has been nothing close to stable. The meme coin is quite volatile in its price swings, classifying it as one of the riskiest investments one can make. Yet it cautions some of the biggest investors, who buy into the hype or speculation.

Well, just recently, Crypto Titans, a pseudonymous analyst, shared that PEPE could be set for a significant price move. The analyst noted that this formed a bullish pennant on the daily chart, therefore suggesting an extension of the uptrend. More so, a bullish flag pattern was further spotted on the 4-hour chart to indicate continuity of the momentum.

PEPE market cap currently at $3.3 billion. Chart: TradingView

Crypto Titans believe that if PEPE breaks out from both patterns, its price could dramatically skyrocket to $0.00000888 for a 100% increase from its current level. He also warned, though, that it could potentially mean a retest of lower support levels if this upper trend line doesn’t break, adding a level of uncertainty to the forecast. The actions of the whale mean that profits could pay off big, but they also show the risks involved in timing the market.

In a market downturn, analyst like cookislandstrust.eth will let you know what the sentiment is. While, certainly very risky, these tremendous buys that this whale made in PEPE and Ethereum do make a case for fast trades. That is the issue with the high volatility of crypto: what works for one whale doesn’t necessarily fit with what works for normal investors.

Crypto Titans, on the other hand, remains optimistic about gains that PEPE would attain if certain patterns do materialize, but advises a degree of prudence. In this crypto market, the timing and the analysis are very essential but not sufficient. One has to be very cautious and do their own research because the strategies may not work out with everyone.

Featured image from X/@rarepepe_dao, chart from TradingView

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

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