Whale shifts $2.71M from PEPE to EIGEN token

A notable Pepe (CRYPTO:PEPE) whale has made significant portfolio adjustments, selling over 130 billion PEPE valued at $2.71 million and reallocating investments toward EigenLayer’s (CRYPTO:EIGEN) token.  

This shift has sparked discussions among market participants regarding the future prospects of both tokens.  

According to on-chain data from Spot On Chain, the whale initially sold 74.07 billion PEPE for 448.1 ETH before selling an additional 130.2 billion PEPE over three days.  

Despite the selloff, the whale still holds 3.241 trillion PEPE worth $68.3 million, reflecting a 12.6x profit on their position.  

Simultaneously, the investor increased their exposure to EIGEN by purchasing 217,348 tokens for 181.3 ETH in recent days.  

The whale’s current EIGEN holdings total 1.608 million tokens, valued at $4.31 million, showing an 11% profit.  

This strategic reallocation has fueled optimism around the EigenLayer ecosystem and its primary token.  

The contrasting price movements of PEPE and EIGEN are noteworthy.  

PEPE experienced a 2% intraday and 5% weekly decline, trading at $0.00002026, while EIGEN surged nearly 7% intraday and 23% over the week to reach $3.06.  

These trends highlight diverging market sentiment, with rising demand for EIGEN propelling its price higher.  

Despite the selloff, analysts remain optimistic about PEPE’s future, projecting a potential target of $0.000025 based on favorable technical indicators.  

Meanwhile, EIGEN’s rally reflects growing confidence in its ecosystem.  

As the broader cryptocurrency market remains volatile, the whale’s strategic moves and the differing trajectories of PEPE and EIGEN are expected to continue shaping investor sentiment and market dynamics.  

At the time of reporting, the Pepe price was $0.00002015, and the Eigenlayer price was $3.02.