Crypto whales are on a buying spree, with Bitcoin, Pepe and new meme coins like PEPU in the highest demand.
The trend indicates that a bull market could be on the horizon. After all, the US Federal Reserve is set to start an aggressive quantitative easing in September, a decidedly bullish scenario for the crypto market.
Whales Stack Pepe, BTC
Seasoned traders aren’t fazed by the choppy price action in the cryptocurrency market. They have been using all dips as buying opportunities to scale into long positions.
For instance, data from Lookonchain reveals that a whale invested over $2 million into the Pepe coin and an additional $391k into Worldcoin (WLD).
This comes on the heels of another whale buying over $130 million worth of Bitcoin in 5 days.
All indicators point to these smart money investors preparing for the next bull run, and for good reason.
The US Federal Reserve is set to cut interest rates aggressively beginning in September. In fact, the CME FedWatch is showing a growing likelihood of a 50 bps rate cut in the upcoming FOMC meeting on September 18th.
Citi analysts are also projecting a 50 bps rate cut this month, believing that the soft August jobs report and unemployment data would force the Fed to adopt a strong dovish stance. Deutsche Bank analysts agree with this macro thesis.
Additionally, pro-crypto candidate Donald Trump remains firmly in the driver’s seat for the November presidential elections. For instance, the latest Nate Silver projection has Trump leading by over 14 points against Vice President Kamala Harris.
As his lead grows and the market begins to price in a Trump presidency, crypto prices could see a broad-based bull rally.
Whales Buy New Meme Coins Like Pepe Unchained
Whales are also buying new, low-cap meme coins ahead of September rate cuts. Indeed, the bull market euphoria brings the meme coin mania with it, providing the ideal backdrop for potential 10x to 100x returns.
Pepe Unchained (PEPU) is one such new meme coin that is in high demand and has already raised nearly $12 million in its presale.
Just today, a whale invested over $26,500 into PEPU, while another purchased nearly $58k worth of the meme coin, both tracked on Etherscan.
The demand for Pepe Unchained isn’t surprising. It is one of the rare meme coins to have its own blockchain, a strategy that is already proving to be a game-changer.
Indeed, PEPU’s native Layer-2 chain is creating quite a buzz, which bodes well for its brand awareness and hence its upside potential.
However, it isn’t just an excellent marketing strategy. Thanks to its ETH-compatible blockchain, PEPU holders can take advantage of low trading costs and high staking rewards. In fact, presale PEPU buyers are already earning passive income at a reward rate of over 170%.
Considering its strong early demand from the whales and native blockchain, some experts are calling Pepe Unchained the next 100x crypto.
