In the ever-changing landscape of cryptocurrency, meme coins have become a popular phenomenon, generating significant interest among investors. This year alone, there has been a surge in activity within the meme coin market, with coins such as WIF and BODEN making waves alongside more recognized names like Dogecoin and Shiba Inu.
Lately, a notable change in direction has emerged, with a major whale drawing significance to a newcomer: PUPS (Ordinals) (PUPS). Therefore, let’s examine the potential consequences of this shift and the reasons behind the growing buzz.
Whales Shift Focus From WIF & BODEN
In the current buzz about meme coins, an intriguing transaction has attracted attention in the crypto world. As per a recent analysis by the on-chain data provider Lookonchain, a large investor has changed their investment direction towards PUPS, a meme coin initiative based on the earliest blockchain technology.
Significantly, the whale traded a large quantity of BODEN and WIF tokens for PUPS, suggesting increasing trust in this new meme currency. This transaction has provoked discussions amongst traders about a possible change in investment priorities.
Simultaneously, the deal saw the large investor parting with 1.8 million Boden, equivalent to around $1.15 million, and 1.05 million WIF, or roughly $2.63 million. In return, they obtained 54,161 PUPS, worth approximately $2.88 million. The investor had been buying PUPS crypto at an average price of $70 since April 11.
Significantly, the whale continues to own large amounts of BODEN and WIF in his meme coin investments, suggesting a well-thought-out diversification plan. Specifically, he holds approximately 20 million BODEN, valued at around $16.4 million, and 2.22 million WIF, worth around $6.1 million.
Rise of PUPS and Market Speculation
Pups, the initial meme coin established on the Bitcoin blockchain, has drawn notice for its distinctive traits and expanding base of investors. Emphasizing creativity and interaction, Pups sets itself apart in a congested field, alluring traders and supporters in equal measure.
Furthermore, the support of well-known crypto figures like popular trader Ansem has added fuel to the hype surrounding PUPS. Ansem’s recent analogy between WIF and PUPS has highlighted the potential for substantial gains in the meme coin sector, sparking interest and investment action.
At present, PUPS is gaining popularity in the cryptocurrency market. Investors are keeping a close eye on its development and assessing its potential for the future. With influential figures like the previously mentioned “whale” backing it and prominent influencers promoting it, PUPS seems well-positioned to establish itself as a unique player in the meme coin sector.
Currently, the cost of PUPS has risen by 9.02% to reach $54.27 in our present update. Simultaneously, there was an impressive increase of 58.04% in trading volume over the past 24 hours, amounting to a substantial $7.26 million worth of transactions. It’s worth mentioning that within the last day, PUPS reached a peak price of $107.22 and hit a low of $38.10.
While BODEN’s price increased by 34.10% in the previous 24 hours to reach $0.7396, its trading volume grew by 10% to hit $41.15 million. At the same time, WIF’s price went up by 17.10%, reaching $2.68, and its trading volume experienced a significant jump of 39.58%, amounting to $679.43 million.
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2024-04-19 12:04