Crypto whales recently purchased billions of Shiba Inu (SHIB) and Pepe (PEPE), signaling a bullish move for the respective crypto tokens. These whales are known to play a major role in discovering a token's price, and their purchases could cause meme coin prices to rise significantly.
ETFSwap (ETFS) is another crypto token that has recently seen an increase in whale activity. This category of large investors purchased millions of ETFSwap (ETFS) tokens as part of its ongoing presale.
Crypto Whales Buy 624 Billion Pepe (PEPE) and Shiba Inu (SHIB) Tokens
On-chain data shows that crypto whales have accumulated over 624 billion Pepe (PEPE) and Shiba Inu (SHIB) tokens in the last 24 hours. Specifically, one wallet address (0x10Dc) purchased 241.6 billion PEPE ($1.75 million) and 53 billion SHIB ($1.27 million).
Meanwhile, another whale reportedly withdrew 329.3 billion Pepe (PEPE) from crypto exchanges Binance and MEXC. Whales removing their crypto holdings from exchanges are considered bullish because this most likely means they are choosing to hold them for the long term instead of selling them anytime soon.
Shiba Inu (SHIB) and Pepe (PEPE) prices reacted positively to this development. Shiba Inu (SHIB) reached $0.00002461 in the last 24 hours, while Pepe (PEPE) reached $0.000007583 during the same period.
It is also worth noting that both meme coins saw an increase in their trading volume, suggesting that investors (besides whales) are also actively trading these tokens.
Data from CoinMarketCap shows that trading volume for Pepe (PEPE) increased by over 30% in the last 24 hours, while trading volume for Shiba Inu (SHIB) also increased by over 35%.
Investors looking to invest in both coins now may need to be careful, given their strong positive correlation with the price of Bitcoin. With the current dumping of Bitcoin, Shiba Inu (SHIB) and Pepe (PEPE) have followed suit. The two crypto tokens are currently trading at around $0.00002237 and $0.000006781, down over 5% and 3% in the last 24 hours, respectively.
Meanwhile, ETFSwap (ETFS) showed green flags everywhere, prompting whales Shiba Inu (SHIB) and Pepe (PEPE) to invest heavily in its presale.
Crypto whales swim in ETFSwap (ETFS)
Newcomer ETFSwap (ETFS) is seeing a significant influx of crypto whales entering its ecosystem. These whales alone purchased over 60 million ETFSwap (ETFS) tokens in the first stage of the ongoing presale. These crypto investors say they view the crypto token as a high-conviction play, after seeing how bullish crypto experts are on it.
These crypto experts say that ETFSwap (ETFS) could reach $5, a gain of 58,000% from its current price of $0.00854. Meanwhile, ETFSwap (ETFS) has shown its strength in the crypto market, with its value skyrocketing despite the recent market-wide downtrend, which has overwhelmed other altcoins.
The impressive price action of ETFSwap (ETFS) amid this downtrend has convinced even more investors that investing in the crypto token could indeed be the best play for this bull run. It is worth noting that ETFS handled this execution without even considering the fact that it is the native token of ETFSwap, a Real World Asset (RWA) crypto project.
RWA projects are expected to soon become the main narrative in the crypto space, especially with active tokenization is expected to soon become a trillion-dollar market. This means that tokens like ETFSwap (ETFS) will experience a massive influx of liquidity, which would cause their prices to rise further.
Additionally, ETFSwap (ETFS) stands out for its unique offering, as it will be the first decentralized finance (DeFi) platform to offer tokenized exchange-traded funds (ETFs). As such, Web3 natives looking to invest in this traditional asset class will eventually flock to the platform.
ETFS tokens are required to access investment opportunities on the platform, which is another reason why the token is seeing increased demand during its ongoing presale. Although the first stage of the presale is still ongoing, it is expected to end sooner than expected. This means that those who have not yet invested need to act if they want to make the most of this alpha.
The tokens are currently selling at an affordable price of $0.00854 in the first stage of the presale, but the price is expected to surge 100% to $0.01831 in the second stage, making it the best time to invest.
For more information on the ETFS presale:
Disclaimer: The views and opinions presented in this article do not necessarily reflect the views of CoinCheckup. The content of this article should not be considered investment advice. Always do your own research before deciding to buy, sell or transfer crypto assets. Past returns do not always guarantee future profits.