Meme coin PEPE has been making waves in the crypto world, with many investors clamoring to get their hands on it despite the significant risks involved. Keeping an eye on institutional and whale buying can be a useful way to get in early on potentially lucrative investments and minimize investment risks. Several early investors in Shiba Inu (SHIB) and PEPE have already made millions in USD profits, and these investors are worth observing for market trends.
According to a tweet on May 6th by Lookonchain, three whales in particular made millions by investing in both Shiba Inu (SHIB) and PEPE before their respective rallies. One investor, 0x778c, turned a relatively small investment of $13.5k on SHIB into an impressive $5.8 million, alongside a $1.20 million profit from PEPE. Another investor, 0x2af8, managed to make $3.84 million by investing in SHIB and an additional $1.34 million by investing in PEPE. A third investor, cryptopolitan.eth, similarly managed to profit handsomely from their investments in SHIB and PEPE, earning $2.45 million and $121k respectively.
PEPE’s price has soared by 800% in just one week, positioning it among the top 50 crypto list and attracting significant trading volumes of over 500%. In comparison, SHIB’s price has dropped 1% in the last 24 hours, but trading volume has surged by 62%, suggesting an increase in interest among traders.
Investing in cryptocurrencies, especially meme coins, can be incredibly volatile and unpredictable. While it may be tempting to follow the footsteps of whales who have made millions from their investments, one should always conduct thorough research before diving in headfirst. It’s important to remember that the rise in the value of meme coins such as PEPE can be as sudden as their potential decline.
The future of SHIB and PEPE remains uncertain, with some predicting continued rallies, while others calling for a potential crash. As with any investment, success in the cryptocurrency market ultimately depends on careful research, prudent decision-making, and sometimes, a bit of luck.
Source: Coingape
