Following the broader market downturn, big investors or whales are shifting their capital to navigate through the market volatility. The significant market plunge has pushed the crypto whales to put their funds into $PEPE and $HYPE. As per the data from the on-chain analytics provider, Lookonchain, the whales like “0x9b83” and “qianbaidu.eth” have transferred huge amounts in stablecoins into $PEPE and $HYPE tokens for strategic crypto accumulation. The respective accumulation spree indicates their confidence in the short-term and mid-term price movements.
Crypto Downturn Pushes Whales to Accumulate $PEPE and $HYPE
In line with the exclusive market data, “0x9b83,” “qianbaidu.eth” and other such crypto whales are making comprehensive capital shifts to $PEPE and $HYPE amid wider market crash. Particularly, qianbaidu.eth has withdrawn up to 657.8B $PEPE tokens, equaling $4.44M, from Binance. This development indicates the whale’s high conviction in the respective meme token, irrespective of the ongoing market volatility.
Apart from that, the respective address also spent nearly $8.67M $USD coins to purchase $HYPE from Hyperliquid. In the same vein, “0x9b83” has turned out to be another whale making capital shift into $PEPE and $HYPE while the crypto community is watching the accumulation activity. Data points out that “0x2bfb” has overall utilized $4.97M $USDT to buy 600.88B $PEPE tokens, further indicating the rising exposure of whales to the meme coin.
Whale Exposure to $PEPE and $HYPE Could Trigger Potential Reversal
According to Lookonchain, the whale “0x831..B842” is presently holding $14.17M in total crypto assets. This includes 153,375 $HYPE (nearly $6M) and more than $2.8M $USDC, apart from some minor positions in the rest of assets. Keeping this in view, amid the growing accumulation of $PEPE and $HYPE tokens among whales, the crypto trader community is watching for a likely crypto recovery after a severe crash.
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