DWF Labs Moves 2 Billion FLOKI Tokens for the First Time in a Year While Whales Accumulate Pepe Coin: Is Meme Coin Season Back?

Recent activity in the cryptocurrency market suggests a potential resurgence in meme coin popularity. Smart traders have been accumulating significant amounts of $PEPE and $FLOKI, indicating renewed interest and potential bullish trends in the meme coin sector. Here’s a detailed look at the recent movements shared by Spot On Chain:

DWF Labs’ FLOKI Withdrawal

DWF Labs, a prominent player in the crypto trading space, has made a notable move involving $FLOKI. Approximately a few hours ago, DWF Labs withdrew 2 billion $FLOKI tokens from Binance, a transaction valued at $394,000.

This activity is particularly important as it marks their first $FLOKI transaction in over a year. Such a substantial withdrawal hints at a strategic move, possibly indicating bullish sentiment or preparatory steps for future market actions.

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Whale Activity with PEPE

Another notable transaction involves a smart trader identified by the address 0x37d. This trader withdrew 407.74 billion $PEPE tokens from Binance 19 hours ago.

Valued at $4.2 million, this is their third trade involving $PEPE. The trader has already realized a profit of $292,000, a 6.95% gain from this recent transaction. Historically, this whale has profited greatly from $PEPE, amassing a total profit of $3.59 million, reflecting a 100% return from two previous trades.

These transactions highlight a renewed interest in meme coins, which could signal the beginning of another meme coin season. The notable amounts involved and the players making these moves suggest confidence in the potential for growth and profitability in the meme coin sector.

Smart traders’ strategic accumulations often precede market trends, and their actions can be indicative of broader market sentiment. The recent activity around $PEPE and $FLOKI could spark increased interest and trading volume in these and other meme coins.

Read more: Roaring Kitty Triggers Competition Between Cat and Doge-Themed Coins: Analyst Shares Top 5 Cat Meme Coins To Watch

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Vignesh Karunanidhi
Vignesh Karunanidhi

Seasoned crypto writer with deep passion for blockchain and cryptocurrency