- A freshly-made wallet garners the attention of blockchain intelligence agencies.
- One major Ethereum player transfers huge amounts of PEPE from Binance.
- Hours later, PEPE and two other cryptos inside the wallet start to pop off.
One sharp-witted crypto investor on the Ethereum network has flawlessly timed the market, capitalizing on PEPE, WorldCoin (WLD), and FLOKI. On September 2, 2024, the whale created a new on-chain wallet to receive several deposits from Binance.
Ethereum Wallet Receives Massive Deposits
The Ethereum player cashed out 99,388,628 Pepe at 02:17:35 PM UTC and made another withdrawal four minutes later. With a heavy withdrawal of 292,873,419,428 tokens coming next, the smart money investor has collectively acquired $2,211,954.70 in Pepe.
In addition to PEPE, the investor withdrew 273,266.96 WLD tokens. The high-profile Artificial Intelligence project rose to prominence when ex-Microsoft and now OpenAI’s CEO Sam Altman gave out free tokens to people who agreed to scan their irises.
WLD is a digital identity-based cryptocurrency that uses the WLD token for digital identification. Developed by Tools For Humanity in San Francisco and Berlin, this eyeball-scanning technology enables users to identify across supported digital environments.
PEPE & WLD Prices Recover; Market Still in Fear?
A day after the PEPE and WLD withdrawals from Binance, both altcoins embarked on a mini-rebound rally. Pepe’s 3.5% daily upswing has pushed the frog-themed crypto to $0.00000772.
WLD picked up a stronger bounce of 8% to retest the psychological barrier of $1.50. This resistance level is crucial for WLD, as the token bounced to $2 territory and above only after consolidating above the $1.50 support levels.
As September has proven historically bearish for the general crypto markets, fear remains the prevailing sentiment among most traders. With the Fear & Greed Index pointing the scales to 26, it’s evident that Bitcoin’s dip below $58,000 set off a mild panic. Comparing the index to last week, we can see a rapid jump from a neutral position to substantial fear.
While crypto analysts are divided between applying Dollar Cost Average (DCA) tactics on well-researched projects and gem hunting in this ambiguous market phase, DailyCoin dug further into the Ethereum whale’s wallet to find FLOKI as its second largest asset.
FLOKI has stood out from the regular altcoin crowd due to its decoupling a week ago. By the end of August, FLOKI had outperformed its remaining peers, making it the most socially dominant meme coin during the 21% rally.
In contrast, other meme coins like Shiba Inu (SHIB) and DogeCoin (DOGE) saw double-digit deficits during the same timeframe. With an estimated value of $530K on the whale’s wallet, FLOKI also picked up 3% gains in the latest 24-hour period and trades at $0.0001233, according to CoinGecko.
On the Flipside
- Following numerous probes into WorldCoin’s operational practices around the globe, WLD is over 87% down from its all-time highest point of $11.74, hit on March 10, 2024.
- That leaves just 2% of current WLD holders in profit, while WLD’s OI-weighted funding rate remains negative, signifying a waning interest in speculating on the token.
Why This Matters
Digital assets flowing from centralized exchanges to self-custodial wallets are typical of the accumulation phase, meaning that crypto investors are topping up their bags rather than taking profits.
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