LookOnChain reported that whales have been massively accumulating several cryptocurrencies, including $PEPE, $LINK, $UNI, $MKR, and $ENS.
Specifically, the report states that 0x1A2E withdrew 322.48 billion $PEPE tokens, worth around $2.78 million, from Binance approximately 13 hours ago. Additionally, aavebank.eth withdrew substantial amounts of various cryptocurrencies from Binance around 6 hours ago prior to LookOnChain’s report, including 500,000 $UNI tokens ($3.75 million), 183,799 $LINK tokens ($2.62 million), 171 $MKR tokens ($500,000), and 31,139 $ENS tokens ($483,000).
This massive accumulation by whales could be an indicator of potential future price movements for these cryptocurrencies. Whales, known for their substantial holdings and ability to influence market dynamics, often engage in such accumulation strategies when they anticipate positive price action.
It’s worth noting that the crypto market is performing well this weekend, with Bitcoin surging above $64,000 after briefly touching the $56,000 area earlier this week during a market-wide crash. This bullish sentiment across the broader crypto market could have contributed to the whales’ decision to accumulate these specific tokens.
Read also: This Render Price Action Looks Very Promising: Why You Should Be Bullish on RNDR Right Now
Milei Moneda is a new meme coin inspired by the political and economic views of Javier Milei, an Argentine president known for his libertarian and pro-Bitcoin stance. You have an opportunity with the ongoing low presale price to get in early!
Sponsored
Show more +While whale movements should be observed cautiously, as they can sometimes be driven by various factors, the sheer volume of accumulation in this instance suggests that whales may be anticipating upward price movements for $PEPE, $LINK, $UNI, $MKR, and $ENS in the near future.
Hunting for a small cap coin that could explode 10x? We’ve unveiled a few last week alone.
Get all our future calls by joining our FREE Telegram community.
Check $RECQ Meme Coin
ICO stage, offering tokens at a discounted price
Facilitates a smooth and efficient economy within the arcade, supporting both arcade and in-game transactions.
Grants access to a diverse range of gaming experiences in the Rebel Satoshi Arcade,
Contributes to a decentralized, community-driven RebelSatoshi platform that integrates gaming with elements of revolution, freedom, and unity, appealing to users who value such principles.
