Blockchain monitoring firm Lookonchain reported this morning that 2 altcoin projects are the subject of massive whale transactions. One of the acquisitions in question includes Arbitrum (ARB) valued at $5.4 million.
Whales collected millions from these 2 altcoins
According to Lookonchain’s report, a whale recently bought around 3.67 million ARBs from Binance and Gate.io. The value of the purchase was approximately $5.4 million. The post shows that the whale took the ARB after the altcoin’s price rose to $1.48.
The ARB price has pulled back a bit since the purchase. At the time of writing, it is trading at $1.4, down 4.15% over the last 24 hours.
Another altcoin whale bought 3.79 trillion PEPE
Lookonchain also shared details of a whale that spent nearly $1 million to buy PEPE. According to on-chain data, the user has purchased 3.79 trillion PEPE with 422 ETH and 100,000 USDC.
The purchase took place from April 19 to April 2022 at an average price of $0.0000002563. This fleet of acquisitions also made the user the tenth largest owner of PEPE.
cryptocoin.com As we have also reported, PEPE attracted great attention from the cryptocurrency community in its early days. The rapidly becoming popular meme coin has brought its initial investors 7,500x returns. Its price is currently trying to protect its recent triple-digit gains.
What’s the price of Pepe Coin?
Last week, there was a lot of excitement surrounding PEPE Coin. The meme coin thus skyrocketed from a few thousand dollars to over 150 million dollars in market cap for a short time. The move created a great deal of hype, drawing liquidity from investors and inspiring the creation of many similar projects on other networks.
As of now, PEPE is trading at $0.0000002212, down 9.15% in the last 24 hours. According to data from CoinMarketCap, PEPE hit an all-time high of $0.0000004036 before falling to its current price. However, it remains unclear whether it is a short-lived pumping and dumping or another major meme coin bull.
cryptocoin.com As CoinShares chief strategy officer, we have included the statements of Meltem Demirors about the last rally in this article.
How about the ARB price?
Arbitrum price failed to capitalize on the day’s bulk purchases. ARB price declined below the $1.3942 support level in the past 24 hours. However, it looks like it currently has the necessary support to break above $1,5175 in a day or two.
Technical indicators on ARB’s 4-hour chart are currently bullish. A new bullish technical flag was recently triggered by the crossing of the 9 EMA on the 4-hour chart above the 20 EMA line. The RSI on the ARB’s 4-hour chart is also bullish and the RSI line is positively sloping into the overbought zone.
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