Whale Dumps 262 Billion PEPE Tokens Amid Uptrend, Shifts to ONDO

A significant development in the cryptocurrency market occurred on Monday when a large holder, or "whale," of Pepe Coin (PEPE) sold a staggering 262 billion tokens, despite the ongoing uptrend. This action sparked intense speculation among market participants, as the whale appeared to redirect its investments into another token, ONDO. While the frog-themed meme token's returns may be relatively lesser, the DAO crypto remains bullish.

On-chain data revealed that the whale sold 261.8 billion PEPE tokens worth $2.12 million, incurring an alarming loss of $7.05 million. Notably, the accumulation was made for $9.18 million. This significant loss has raised severe investor concerns about the volatility of meme crypto markets. Prior to this pump, PEPE, alongside other tokens, witnessed a bloodbath due to macroeconomic developments and liquidity hurdles. However, crypto prices recovered, with PEPE gaining nearly 10% intraday. The whale's decision to sell amid this upswing may be an attempt to mitigate further losses.

Subsequently, data indicated that the Pepe Coin whale also sold 531.7 billion BEAM for $4.1 million, marking an alarming loss of $7.01 million. Altogether, the whale appears to have used the funds from these selloffs to buy ONDO. Per the data, the whale moved on to buy 5.25 million ONDO tokens with 6.26 million DAI. Meanwhile, the DAO crypto's price was up nearly 10% today, closing in at $1.12. This upswing primarily falls in line with a broader crypto market surge, as Bitcoin price briefly re-entered a $95K price level in the past 24 hours. Altcoins also followed a pumping action, mirroring optimism amid broader trends.

Despite the massive whale selloff, Pepe Coin price visited the crypto market party, surging 7% to $0.000008282. Its intraday low and high were $0.000007569 and $0.000008932, respectively. Market analyst 'Crypto-Zeus' further took X amid the rising action, stating, 'Good time to be a PEPE holder.'