Whales Are Ditching PEPE And Accumulating BONK, SHIB

A crypto whale has scored a major revenue of over $2.9 million by strategically investing within the meme-inspired cryptocurrency BONK, in line with Lookonchain, a preferred on-chain information tracker.

The ентитъ acquired 98 billion BONK tokens, valued at greater than $1.5 million, from Binance simply earlier than the token’s worth surged by over 50% in a single day.

As we speak the worth of $BONK has elevated by greater than 50%!

A SmartMoney gathered 98B $BONK($1.54M) from #Binance once more earlier than the worth elevated.

He at present holds 319.44B $BONK($7M), with a revenue of $2.9M.https://t.co/1oXGa1QlKp pic.twitter.com/TXYw2H07yz

— Lookonchain (@lookonchain) February 29, 2024

At press time, the whale holds 319.44 BONK tokens, amounting to over $7 million, with unrealized income of roughly $2.9 million.

BONK is buying and selling at $0.00002295, up 6% from yesterday and 90% this week.

BONK, PEPE, & WIF Lead The Altcoin Market

The meme coin market has seen a major shift from $27.2 billion to $32 billion this week, a notable improve that underpins the crypto market frenzy. One of many predominant drivers behind the upswing is PEPE, which witnessed a large 180% surge weekly.

Lookonchain additionally reported how one other whale capitalized on the PEPE hype by promoting off their holding of 1.97 trillion PEPE tokens, valued at $6.07 million, producing a revenue of $3.49 million. The whale then purchased SHIB and, curiously, metaverse cash like MANA and SAND.

A wise whale modified his place from $PEPE to $SHIB, $MANA, $SAND, and $GALA.

The whale offered all 1.97T $PEPE($6.07M) and made a revenue of $3.49M.

Then purchased 75.9B $SHIB($893K), 1.6M $MANA($1.07M), 2.43M $SAND($1.48M) and 36.88M $GALA($1.46M).https://t.co/TsQgABvjIt pic.twitter.com/PbWGVtOVOZ

— Lookonchain (@lookonchain) March 1, 2024

Dogwifhat (WIF) additionally surged 10% on Thursday, hitting a brand new all-time excessive and practically reaching the $1 goal. What’s extra spectacular than its 10% surge in a day is that WIF has exploded 200% this week, making it one of many hottest Solana-based meme cash subsequent to BONK.

As CryptoPotato reported, a person who initially invested simply $310 price of Solana (SOL) to buy 2.58 million WIF tokens now holds belongings valued at roughly $1.4 million.

The latest surge in worth for these widespread meme cash generated plenty of FOMO, main customers to put dangerous bets on sure tokens like WIF or PEPE. Readers ought to stay cautious when participating with these kind of cryptocurrencies.