Crypto Whale Buys $3.2 Million Worth of PEPE Coin

Bittime - In a volatile crypto market, some large investors, known as “whales,” take advantage of falling prices to expand their portfolios. 

One whale who has recently been in the spotlight is a wallet owner with the address cookislandstrust.eth, who bought $3.2 million worth of PEPE coin at the peak of the market decline.

Investment Strategy in the Middle of a Bearish Market

On August 5, when Bitcoin and Ethereum experienced a significant decline to reach $49,000 and $2,000 respectively, these whales started accumulating PEPE coins. 

This move is considered a strategic attempt to buy at low prices in the hope of making a profit when the market recovers.

Read also: The Answer to Musk Empire (X Empire) Rebus of The Day August 13 is Here!

Benefits of Investing in Ethereum

Apart from PEPE coin, the whale also made a large investment in Ethereum (ETH). That same day, he spent $7.05 million in USDT stablecoin to buy 2,978 ETH. 

Currently, the investment has generated a profit of $534,000, reinforcing the buy-at-the-market low strategy adopted by this whale.

Other Whales Follow the Same Trend

These whales are not the only ones taking advantage of opportunities in the crypto market. Over the weekend, analytics platform Lookonchain reported that another whale made “unrealized” profits of nearly $8 million after investing $99 million to buy Ether. 

This whale has been continuously accumulating Ether since May 2024, with the most recent accumulation taking place on Saturday.

Benefits of PEPE Coin Cash Out

On the other hand, there are also whales who decided to cash out their investment in PEPE coin, making a profit of $5.06 million from an initial investment of $3.4 million. 

He bought a total of 395.92 billion PEPE and then moved it to Binance for sale.

These whales are known to handle very large amounts of tokens, often worth millions of dollars. In early August, the whale also moved another 400 billion cryptocurrencies to Binance, with each digital asset estimated to be worth around $4.22 million. 

Shortly afterward, the same whale reportedly moved 200 BTC worth around $10.33 million to Binance, adding to a profit of more than $4 million from a purchase in October last year.

Conclusion

This whale's actions show how big investors in the crypto world take advantage of market volatility to secure big profits. 

With a strategy of buying when prices fall and selling when prices rise, whales like this continue to dominate the market with careful and measured investment maneuvers.

How to Buy Crypto on Bittime

You can buy and sell crypto assets easily and safely via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also ensure you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. Study Complete Guide How to Buy Crypto on Bittime. 

Monitor graphic movement of Bitcoin (BTC) price, Ethereum (ETH), Solana (SOL), and other cryptos to find out today's crypto market trends in real-time on Bittime.