Whales buy BTC on the dip as FOMO drives over $11.9M in Pepe Unchained

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Whales have taken the opportunity to accumulate more bitcoin ($btc) as the cryptocurrency dropped to $55,500 on Tuesday. At the same time, these big investors have also turned their attention to Pepe’s latest and greatest release, Pepe Unchained ($PEPU).

In just two days, the Pepe Unchained presale has raised an additional $400,000, bringing total funding to over $11.9 million and putting the $12 million milestone within reach in the coming hours. Notably, $85,000 of this influx came from just two wallet addresses, indicating that whales are aggressively acquiring $PEPU while the project is still in presale.

Furthermore, the surge in investor interest highlights Pepe Unchained’s growing notoriety in the cryptocurrency market. Its layer-2 chain, which allows for faster and cheaper transactions for Pepe owners, is in strong contention to become the industry-leading frog meme coin, up against its predecessor, Pepe ($PEPE).

Investors continue to flock to the Pepe Unchained presale to get their hands on the token at its discounted price. One $PEPU is currently worth $0.0094982, but will soon rise to $0.00953620 in less than 35 hours when the presale concludes another round of funding.

So, despite September being historically the worst month for cryptocurrencies, the influx of capital into $btc and $PEPU suggests that investors are positioning themselves for a more exciting fourth quarter, which is traditionally the strongest period for cryptocurrencies.

<h2 id="h-one-crypto-whale-purchased-btc-worth-19-million” class=”wp-block-heading”>A crypto whale bought $19 million worth of btc

bitcoin fell 2.77% on Tuesday, nearly erasing its gains from Monday.

But amid the downturn, whales are actively buying on the dip. One whale wallet added $19 million to its five-day buying spree, bringing its total btc purchases to $136 million. This increased its total holdings to 8,881 btc, valued at $523 million, according to Lookonchain data.

This whale bought 322.37 twitter.com/search?q=%24BTC&src=ctag&ref_src=twsrc%5Etfw”>$btc($19M) again 1 hour ago.

Bought 2,322.37 twitter.com/search?q=%24BTC&src=ctag&ref_src=twsrc%5Etfw”>$btc($136 million) in 5 days and currently has 8,881 twitter.com/search?q=%24BTC&src=ctag&ref_src=twsrc%5Etfw”>$btc($523 million).

ADDRESS:
3G98jSULfhrES1J9HKfZdDjXx1sTNvHkhN image.twitter.com/JcdZGaqYJy

— Lookonchain (@lookonchain) twitter.com/lookonchain/status/1830904073341804575?ref_src=twsrc%5Etfw”>September 3, 2024

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Another whale, dubbed “Mr. 100” by crypto influencer Lark Davis, bought 300 btc on the same day, worth around $17 million. These moves underscore that big investors are increasing their exposure in anticipation of better months ahead.

But as mentioned, it's not just bitcoin that's on every crash detective's mind.

Pepe Unchained is becoming more and more popular, week by week, and has also seen its share of relatively substantial purchases for a project that has just celebrated its third month of existence.

One transaction involved the purchase of 24.4 eth, valued at $56,289.81, while another involved 10.8 eth, valued at $25,990.65.

ethereum Transaction Hash (Txhash) Details | Etherscan

ethereum Transaction Hash (Txhash) Details | Etherscan

However, this is not the first time that Pepe Unchained has caught the attention of whales. In July, almost $200,000 was invested in $PEPU through a single wallet address.

It appears that whales are also sensing the market demand for a Pepe without the old ethereum ownership restrictions (e.g. high gas fees, slow transactions), resulting in the project’s pre-sale funding reaching record levels.

PEPU could multiply by 100 sooner than expected

Pepe Unchained’s 100x potential is based on its proprietary blockchain, which the project has hinted is close to launching.

According to its website, the release of Layer 2 will occur after pre-orders conclude, suggesting that development may be nearing completion.

Pepe Unchained Layer 2 not only addresses the peculiarities of ethereum-based Pepe ownership, but also positions itself as a new meme coin launchpad for other tokens with similar memetic appeal, all while leveraging the underlying security of the ethereum blockchain.

While September may be the most challenging month for cryptocurrencies, Pepe Unchained’s bullish outlook aligns with a stronger fourth quarter predicted for the industry. This is especially true if $PEPU secures a listing on major exchanges, something that seems increasingly likely given the attention it has already garnered.

Trusted cryptocurrency education platform 99Bitcoins backs up this price projection for $PEPU and provides more details in the video below: