During market corrections like the current one, where Bitcoin has suffered a 7% loss and most major altcoins are down over 10%, savvy investors view it as an opportunity to accumulate their favorite altcoins at discounted prices. This rings true for a new whale investor identified as 0x314, who made significant purchases of AEVO, MUBI, and FLOKI tokens in the past 24 hours, according to data from SpotOnChain.
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Whale’s Purchases
The new whale spent a total of 2.42 million USDC to acquire these altcoins, with the largest purchase being 572,108 AEVO tokens worth 1.274 million USDC at an average price of $2.227. Additionally, the whale acquired 8.031 million MUBI tokens for 850,000 USDC at an average price of $0.106 and 1.583 billion FLOKI tokens for 300,000 USDC at an average price of $0.0001895.
Notably, AEVO is the altcoin that the whale most recently bought and spent the most USDC on, potentially indicating a strong belief in the project’s prospects.
Future Potential
Currently, the whale still holds 4.025 million USDC, suggesting a willingness to continue accumulating altcoins, especially AEVO, during this market downturn. The prices of AEVO, FLOKI, and MUBI have dropped 23.46%, 20.6%, and 19.9%, respectively, in the past 24 hours, presenting an attractive entry point for long-term investors.
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Show more +Conclusion: The substantial purchases made by the new whale investor during this market correction demonstrate a belief in the long-term potential of AEVO, MUBI, and FLOKI. While the short-term volatility may continue, the whale’s actions serve as a reminder that market dips can present opportunities for strategic accumulation of promising altcoins.
As the crypto market goes through this turbulent period, the confidence displayed by this whale could inspire other investors to follow suit and capitalize on the current discounted prices.
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