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PEPE Investor Flips $3,000 to $32M+ Amid Recent Price Rally: Here’s How

Sam Wisdom Raphael
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PEPE Investor Flips $3,000 to $32M+ Amid Recent Price Rally: Here’s How

A Pepe (PEPE) investor has turned a modest $3,000 investment into a whopping $32.8 million amid the meme coin’s recent 408% price gain in the past week.

Pepe has captured the interest of the broader crypto community, currently sitting atop the top gainers list over the last seven days. The meme coin has recorded a massive 408% surge within this timeframe, proving wrong speculations that it could only go lower from its 2023 highs.

Pepe Tops Gainers List CoinMarketCap
Pepe Tops Gainers List | CoinMarketCap

Notably, the latest run has delivered additional gains to a new batch of investors. However, as this trend picks up, early investors who chose not to sell the 2023 top are witnessing much higher profits amid the price rally. Blockchain insights platform Lookonchain spotlighted one such investor.

Lookonchain revealed that this investor procured 4.9 trillion PEPE tokens at its early trading stages. Etherscan data corroborates this disclosure, confirming that the investor spent a total of $3,000 to procure 3.407 trillion tokens, 457.3 billion tokens, and 1.048 trillion tokens on April 15, 2023, amounting to 4.914 trillion PEPE.

Essentially, this wallet purchased these PEPE tokens barely a day after it started trading, triggering speculation that it could belong to a project insider. After PEPE recorded its first phase of price upsurge, the trader began selling off some of his holdings.

He has now sold 760 billion PEPE since May 2023 for $2 million. Following the sales, the investor currently holds 4.15 trillion PEPE worth $30.8 million. Cumulatively, he turned $3,000 to $32.8 million while holding PEPE for ten months.

Similar PEPE Call

In a similar disclosure, Lookonchain spotlighted another investor who made profits trading PEPE. However, this investor liquidated their PEPE profits to procure Shiba Inu (SHIB), as disclosed by The Crypto Basic last week. SHIB also recorded massive surges alongside other meme coins.

According to Lookonchain, the trader has now liquidated his SHIB holdings, procuring a profit of $756,000 within two days. He sold off his Shiba Inu to purchase 38.85 million Memecoin (MEME) for $1.62 million. In the latest move, the investor withdrew another batch of PEPE worth $1.02 million from Binance.

Pepe now trades for $0.000007387, leading the ongoing meme coin mania. The asset’s uptrend has slowed as it aims to hold above the $0.000007 level. The latest rally has pushed it into the top 40 assets by market cap, with its market valuation recently crossing the $3 billion mark.

Bitcoin Leads as Crypto Investment Products See Second-Largest Weekly Inflow at $1.84B

Abdulkarim Abdulwahab
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Bitcoin Leads as Crypto Investment Products See Second-Largest Weekly Inflow at $1.84B

Leading European crypto asset manager CoinShares has released the latest weekly report capturing the global flow of funds through crypto-based investment products.

According to the report, last week witnessed the second-largest weekly inflow on record into crypto-based investment vehicles, amounting to $1.84 billion. 

Crypto investment products weekly inflows chart CoinShares
Crypto Investment Products Weekly Inflows | CoinShares

The report also highlighted that trading volumes in these investment products surged past a record $30 billion for the week. Moreover, it stated that the volume occasionally represented 50% of global BTC daily trading volumes on reputable exchanges.

CoinShares further observed that total assets under management (AuM), buoyed by recent price increases, are now nearing an all-time high at $82.6 billion.

In particular, crypto-based investment products are only $3.4 billion away from the $86 billion peak of November 2021.

Bitcoin Remains Dominant

Furthermore, the report highlighted that Bitcoin accounted for 94% of the inflows to the crypto investment products, amounting to $1.72 billion. Accordingly, the assets under management for Bitcoin reached $62.71 billion. 

Also, CoinShares noted that short investors increased their positions despite recent price movements. Specifically, short-bitcoin investment vehicles witnessed an additional $22 million inflow.

Meanwhile, CoinShares revealed that Ethereum (ETH) experienced its highest weekly inflows since July 2022, with $85 million last week. However, its AuM at $14.6 billion remains miles away from the peak of $23.7 billion.

Besides, Polygon (MATIC) saw inflows of $7.6 million, accounting for 22% of its AuM. On the other hand, Solana (SOL) experienced outflows of $12 million.

Flows Per Region

Moreover, the report emphasized that the exchange-traded funds (ETFs) in the United States remained dominant, witnessing net inflows amounting to $1.88 billion last week. It acknowledged that this figure was somewhat subdued due in part to increased outflows from Grayscale. 

Notably, Grayscale experienced total outflows of $1.46 billion in its Bitcoin ETF. Meanwhile, this trend was counterbalanced by new issuers, which attracted a total of $3.2 billion in inflows last week.

Interestingly, flows varied across other regions. Switzerland experienced inflows of $20 million, while Sweden, Canada, and Germany saw outflows totaling $32 million, $23 million, and $35 million, respectively.

2 Key Reasons Why Bitcoin Breached $65,000

Mark Brennan
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2 Key Reasons Why Bitcoin Breached $65,000

The price of Bitcoin (BTC) just blew past the pivotal $65,000 mark as market analysts point two crucial catalysts impacting its price outlook.

After breaking the $60,000 resistance zone on February 28 for the first time since November 2021, many expected the price of Bitcoin to experience a mild correction.

The opposite is what has happened, as the premier cryptocurrency recently printed its most bullish weekly candle, having increased its value by $11,404 over the week, as pointed out by crypto analyst Raicher.

The Bitcoin rally is catalyzed by two major trends, including the spot Bitcoin ETF and the forthcoming halving event. These two events might significantly shape the future valuation of the coin.

Spot Bitcoin ETF – Driving Supply Crunch

The spot Bitcoin ETF market has shifted the paradigm with respect to institutional adoption. With a regulated avenue to buy Bitcoin, ETF issuers have stacked up more than 300,000 BTC, with more projected to come shortly. Notably, BlackRock and Fidelity Investments have dominated the scene.

At the moment, as much as 10,000 Bitcoin is acquired by ETFs daily, compared to a total of 900 BTC mined per day. According to top analysts like legendary investor Samson Mow, this supply-demand imbalance might push the price of Bitcoin to $1 million eventually.

Weighing in on the current outlook, SkyBridge Capital Founder Anthony Scaramucci foresees a rapid acceleration for Bitcoin should the ETFs control 1.7 million coins or 10% of the total supply.

Bitcoin Halving

While the forthcoming Bitcoin halving event is a positive phenomenon that independently shapes the bullish sentiment in the price of BTC, it will serve as a major complement to the impact of spot Bitcoin ETFs in the long run.

At the moment, the Block reward for mining Bitcoin is pegged at 6.25 BTC. When the halving occurs, this will reduce to 3.125, resulting in 450 BTC mined per day, instead of the current 900 BTC. If the demand for BTC from spot Bitcoin ETF issuers is sustained, it might fuel an increased surge in the price of the asset.

At the moment, the retest of the past All-Time High (ATH) of $68,789.63 from its current price of $65,103.63 remains the key level watched by Bitcoin proponents in the short term.

XRP Sees Massive Burn Spike Amid Price Surge Above $0.65

Sam Wisdom Raphael
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XRP Sees Massive Burn Spike Amid Price Surge Above $0.65

The XRP Ledger (XRPL) witnessed a massive spike in the XRP burn rate amid a price surge that saw XRP breach the much-coveted $0.65 price territory.

The broader crypto market saw a resurgence of bullish momentum, and XRP was not left out in the rally. XRP began March below the pivotal $0.60 level, changing hands at $0.5868. Nonetheless, the token quickly broke through major resistance levels to close on March 1 at $0.6013.

This slow but gradual price uptick spilled into March 2, resulting in a surge to a high of $0.6501, as XRP recorded one of its most bullish days of the year. Interestingly, amid the rally, the XRP burn rate saw a massive spike, towering over the average of 3,000 tokens a day.

Over 6K XRP Burned

According to data from leading XRPL explorer XRPScan, the burn rate increased to 6,721 XRP on March 2, marking the highest intraday burn in over a month. The last time XRP recorded a similar spike in burn rate was on Jan. 16, 2024, when the network incinerated 7,609 XRP.

xrp burned as fees
XRP Burned as Fees | XRPScan

Notably, the network recorded multiple spikes in burns from Dec. 30, 2023, to Jan. 7, 2024, owing to the launch of XAH, the native token of the XRPL sidechain Xahau network. Market participants continuously burned XRP tokens to mint XAH during this time. Following the recent burn, the total burned tokens have increased to 16.178 million.

The latest increase in burn rate can be attributed to a rise in network activity as investors flock to the XRPL to execute transactions. Active addresses on the network have also seen an upsurge throughout this year, sitting at 18,363 on March 2, much higher than the 7,700 average of last year.

It bears mentioning that network activity differs considerably from trade volume, as the latter measures the amount of XRP tokens traded in the market. This metric also saw an increase on March 2, hitting a high of $2.96 billion over a 24-hour, per CoinMarketCap data.

Inflation Discussions and Impact on Price

The discussion around XRP inflation and its effects on price movements has dominated the XRP community. However, some community figures like to believe that the deflationary trend triggered by its burn mechanism could also impact price movements.

According to on-chain data, the XRP Ledger is designed to automatically burn fees, which currently sit at $0.0001 per transaction. This mechanism helps to mitigate the risks of spam transactions. While its original intent is not to bolster XRP’s price, some proponents have argued that it could help in this manner.

Ripple CTO David Schwartz has debunked arguments for this theory, citing the previous monumental Stellar (XLM) burn. Meanwhile, XRP has breached the $0.65 level as of press time, currently changing hands at $0.6605 amid an impressive 5.87% gain in 24 hours.

Shiba Inu: Justin Sun Moves 20B SHIB To Poloniex

Mark Brennan
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Shiba Inu: Justin Sun Moves 20B SHIB To Poloniex

Tron founder Justin Sun has moved a total of 20 billion Shiba Inu (SHIB) to Poloniex, an exchange affiliated with his crypto empire.

Spotted by crypto security and intelligence platform PeckShield, the funds are worth $544,400. The transfer comes at a time when the broader crypto ecosystem is experiencing a massive bullish rally, with Shiba Inu being a major beneficiary.

Justin Sun and Shiba Inu Transfers

According to the PeckShield update, the 20 billion SHIB transfer came from the “Justin Sun 4” wallet. The transaction occurred today at 08:54 (UTC).

Notably, Justin Sun has executed similar whale movements involving Shiba Inu in the past. On January 18, the billionaire investor withdrew 79.33 billion SHIB from Binance, a sum valued at $751,000 at the time. 

The Shiba Inu transfer is a pattern with Justin Sun as he ranks as one of the top 5 whales known for regular Shiba Inu movements.

In December, wallets linked to Justin Sun withdrew a total of 577 billion Shiba Inu worth about $6 million from Binance. Among the obvious explanations offered by industry insiders for this transaction is the likely burn contribution from Sun.

Most of the previous SHIB transactions with Shiba Inu have typically featured withdrawals and sending 20 billion worth of the token to Poloniex is stirring new selloff concerns. Conversely, the purpose might be to bolster the token’s liquidity on the Poloniex exchange.

Is It a Good Time to Sell SHIB?

Shiba Inu is currently changing hands for $0.00002564, up 17.64% in the past 24 hours with its market capitalization soaring to $15,055,390,291.

As of December 18, 2023, when Justin Sun moved the 577 billion Shiba Inu recorded on-chain, SHIB was trading for $0.00001031 and per the current price level, the token has soared by a massive 59.789%.

For some investors seeing gains at the moment, this might be a good level to take profit. However, with SHIB riding the Bitcoin growth trend, it might hit its ATH price in the near term.

Should this possibility play out, selling off now might be a premature move, a phenomenon that experienced traders like Justin Sun are not oblivious of.

Popular Influencer Says Shiba Inu to $0.0001 is 100% Happening

Mark Brennan
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0
Popular Influencer Says Shiba Inu to $0.0001 is 100% Happening

Popular influencer Oscar Ramos believes the recent Shiba Inu rally has bolstered the probability of the asset’s price pushing toward $0.0001.

The price of Shiba Inu has surged to $0.000027 in the past 24 hours, reaching prices last seen in early 2022. However, popular crypto community influencer Oscar Ramos is backing Shiba Inu to break its previous all-time high and even go as high as $0.0001 in the current market cycle.

The influencer bases his predictions on his experience of having witnessed Shiba Inu’s performance en route its high in October 2021. He also shared a recent article by The Crypto Basic suggesting that such price action (800% in a week) is within the realm of possibility. 

He told his audience, “It is 100% accurate, and it’s just going to happen [SHIB hitting $0.0001].” He then added, “I typically keep my expectations realistic on every single token. But I have witnessed what happened in October 2021. I know how much the right FOMO, hype, and retail money can do to the price of Shiba Inu.”

Influencer Outlines Reasons Behind Possible Shiba Inu Surge to $0.0001

In addition to his previous experience witnessing Shiba Inu’s bullish performance, the influencer outlined several reasons why Shiba Inu can realistically break through the $0.0001 price. He reminded viewers that a $0.0001 price target is more realistic than speculating on whether Shiba Inu will go to a penny or a dollar.

He compared the token to other assets, including Ethereum and XRP. He noted that if Shiba Inu can reach a higher fraction of these assets, then a $0.0001 price will certainly be on the cards. 

Oscar Ramos further shared other articles indicating that Shiba Inu has garnered a lot of interest. Among them, one acknowledges that Shiba Inu is the fourth most-traded cryptocurrency and is being held by a large number of Ethereum whales.

Speaking on Ethereum whales, he noted that the price of Ethereum is yet to rise significantly compared to the broader crypto market. He then adds that once Ethereum surges, it typically drags other Ethereum-based tokens along with it, of which Shiba Inu will be a beneficiary.

Going further, the influencer sought to remind listeners that the crypto bull market is in its early stages. Notably, the Bitcoin halving has yet to take place (on track for April 2024), and the best returns usually come in a post-halving period. 

Historically, the crypto market also usually records an “altcoin season,” during which most coins outperform Bitcoin. Such a period in the market is yet to come and could propel Shiba Inu to the predicted price levels. Market analysts argue that the altcoin season typically comes up following a BTC ATH.

Meanwhile, the influencer also warned investors when it would be a good time to exit their Shiba Inu position. He concluded, “When you start seeing the delusional prices that I wasn’t even thinking about, let’s say we go to $0.0002; that is an unbelievable amount of money that is put into a project. It’s absolutely a clear sign of a bubble. Abandon the SHIB and run.”

Shiba Inu Lead Says With New Friends It’s Time to Level up to Show SHIB True Power

Mark Brennan
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0
Shiba Inu Lead Says With New Friends It’s Time to Level up to Show SHIB True Power

Shiba Inu lead developer, Shytoshi Kusama, believes the time has come for the project to showcase its true power.

Shytoshi Kusama, the pseudonymous developer leading the Shiba Inu ecosystem, has expressed optimism about the project’s future prospects. Recall that the price of Shiba Inu has been on a run in the past week, gaining 175% in value and breaking a 22-month high.

However, Shytoshi Kusama believes things are just getting started. In a recent post on X, he reckoned that the time has come for Shiba Inu to show its true power. He also reminded SHIB enthusiasts that the project has achieved its recent massive gains with “very little budget and no marketing.”

With an accompanying “level up” gif, the disclosure could serve as a hint that the project might be pushing toward a full swing into marketing and attracting newcomers to the ecosystem.

Shytoshi Kusama spoke about having a “full day of meeting” with new friends that Shiba Inu had made, indicating that the project will look to upscale partnerships as part of efforts to drive further value to investors.

Shiba Inu Levels Up Against Other Cryptocurrencies

In connection with leveling up, it is worth mentioning that Shiba Inu has surpassed many other cryptocurrencies over the past week. A few notable names include Chainlink (LINK), Polygon (MATIC), and Tron (TRX).

Shiba Inu also briefly broke into the top ten assets by market capitalization, having surpassed 10th placed Avalanche (AVAX). For Shiba Inu enthusiasts, the ultimate goal in the long term would be to overthrow the leading memecoin incumbent, Dogecoin.

Ranked 8th place, Dogecoin has a market cap of $24.3 billion. Shiba Inu, on the other hand, is valued at $16 billion and has a significant catching up to do if it will ever become the top-ranked memecoin in the crypto market.

In the meantime, more than 55% of Shiba Inu investors are in profit at current prices. With most of these investors yet to sell, there is an indication they are in for a long haul, having held Shiba Inu through some of its worst periods in the bear market.

Peter Brandt Warns of Potential 15-20% Bitcoin Price Dip

Mark Brennan
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Peter Brandt Warns of Potential 15-20% Bitcoin Price Dip

After the latest parabolic run, legendary trader Peter Brandt has shared his take on the potential correction that might accompany Bitcoin (BTC).

In a post on X, Peter Brandt shared that a pullback cannot be ruled out after Bitcoin’s 223% surge since September 11, 2023. As a rule in the financial market, a cool-off period naturally accompanies a bullish surge, which might apply to Bitcoin.

While Peter Brandt is not ruling out the possibility of a correction, he pointed out that such a dip is technically not his prediction.

The Historical “Hump Dump” Movement

Historically, when the price of Bitcoin hit its All-Time High (ATH) of $68,789.63 in November 2021, it dropped as much as 422% to $16,291.22 in November 2022. 

In Peter Brandt’s analysis, Bitcoin recorded its “worst closing price decline” of -15.7% from Jan 8 to Jan 22 this year. Per the chart he shared, Bitcoin’s price movement has recorded a “hump slump” and “bump dump” movement since July 2023.

After the price of Bitcoin peaked at around $31,474 in July last year, it dropped to $25,837 in September. The hump dump movement became prevalent from December 8 to January 26 before Bitcoin skyrocketed to its Year-to-Date (YTD) high of $64,268.81.

Bitcoin is now changing hands for $64,148.78, up 4.12% in 24 hours. The price sufficiently trading above its 50-day and 200-day Moving Averages underscores the bullish momentum it has cemented in both the short and long terms.

Buying Opportunity Target

According to Peter Brandt, any potential retracement in the price of Bitcoin will mark a buying opportunity. He believes that though volatility is still a thing for Bitcoin, all the market will see for now is about 15 – 20% correction.

He said this will mark a buying opportunity if this happens and the Bitcoin price retest $55,000y. Notably, the spot Bitcoin ETF accumulation trend, the halving sentiment, and the supply crunch are likely to keep pushing the price of Bitcoin, even with imminent retracement ahead.

In earlier projections, Brandt noted that he foresees Bitcoin hitting a $200,000 top in this current bull cycle.

Influencers Flock to XRP, Disclosing Buying More with $1 Target

Abdulkarim Abdulwahab
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Influencers Flock to XRP, Disclosing Buying More with $1 Target

More notable figures in the crypto trading sphere are increasingly disclosing their entry into the XRP market amid the burgeoning altcoin market.

XRP is about the only prominent digital asset that has yet to take off significantly following the Bitcoin-led crypto market rally.

Over the last 24 hours, XRP has recorded a high of $0.641 following a 5% gain. Meanwhile, XRP has registered a more notable 19.5% growth in seven days.

While rivals like Cardano (ADA) and Solana (SOL) have witnessed more significant double-digit percentage gains, analysts believe XRP’s turn for a shocking market rally is about the corner.

Consequently, several of them have taken to social media to disclose adding more XRP assets to their crypto portfolio.

Buying More XRP

In a recent post on X, the handler behind the “BSC Gems Alert” account proclaimed the intention to acquire more XRP tokens to their existing portfolio. “I’m adding MORE XRP to my bag,” the statement read.

Reacting to the update, some individuals affirm that XRP is a coin worthy of being in one’s portfolio. 

Top Analyst Buys More XRP, Targets $1

In a separate conversation, analyst Kaz declared that the time has finally come for XRP, noting he has invested in the asset. This declaration follows Kaz’s prior anticipation of a breakout and retest trigger before engaging in the XRP market.

In his recent update, he presented a graph indicating XRP’s departure from its bearish pattern, signaling increased optimism for an upward trajectory.

Kaz XRP chart
Kaz XRP chart

Significantly, the analyst has set his sights on the $1 target. He contends that once the fear of missing out on XRP gains momentum, the surge toward $1 will accelerate rapidly in the coming days.

While Kaz has disclosed his intention to take profit at $1, he has also outlined a stop-loss target in case the bullish projection fails. The accompanying chart in his tweet indicates a stop-loss point at around $0.5.

Other Recent XRP Investment Disclosures

Notably, prominent figures in the investing community, like Tony Edward, have revealed their new XRP investment with short-term profit-taking targets at $1.35. 

Earlier, The Crypto Basic called attention to a Bitcoin trader who disclosed how his dad liquidated his home property to invest in XRP.

Similarly, another Bitcoin trader recently revealed investing $500k in XRP, declaring the asset the next shining bull.

Essentially, these trends of XRP investment disclosures affirmed the growing optimism that XRP is poised to break beyond the $1 target in the coming days.

Shiba Inu Officially Posts ‘Moon’ Depiction as SHIB Enters Top 10 Amid Surge to $0.000027

Sam Wisdom Raphael
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0
Shiba Inu Officially Posts ‘Moon’ Depiction as SHIB Enters Top 10 Amid Surge to $0.000027

The official Shiba Inu X account has captured the broader community’s interest with a moon depiction, showcasing the asset’s potential as it slips into the top 10 amid a surge above $0.000027.

Shiba Inu (SHIB) has resumed the bullish momentum it sustained over the weekend. The asset initially maintained a slow but steady price uptick from Feb. 24 to Feb. 29, eventually capturing the $0.000012 price territory amid an inconspicuous upward push.

However, Shiba Inu’s bullish momentum became more evident last week when the asset spiked 104% from $0.00001170 on Feb. 29 to a high of $0.00002390 on March 3. Despite facing intense selling pressure at $0.000023, the asset held above the $0.000022 level.

“Shiba Inu to the Moon”

Amid these favorable price movements, the official Shiba Inu X account took to today’s social platform to capture the community’s interest with a subtle bullish presentation. The account posted a combination of emojis depicting a dog focused on the moon with a telescope.

Notably, the moon typically represents growth or the attainment of new highs. While the Shiba Inu post could be subjected to multiple interpretations, the consensus is that it presents a “Shiba Inu to the moon” commentary, projecting the crypto asset to attain new heights despite its meteoric 126% gain in a week.

Expectedly, the Shiba Inu community has seized the opportunity to disclose their bullish projections, with the $0.001 discussions resurfacing. Notably, Shiba Inu now sits among the biggest gainers in the market alongside other meme coins in what analysts have dubbed the “meme coin mania.”

While some market participants called the top, SHIB resumed the upsurge shortly after the depiction from its official X account. The asset has now pushed to reclaim the $0.000027 price for the first time since April 2022, right before the Terra-induced price collapse.

SHIB Enters Top 10 Amid Rise Above $0.000027

Shiba Inu now changes hands at a 23-month high of $0.00002737 following the latest price spike, up 21.54% today, making it the third-largest gainer within this timeframe. SHIB’s seven-day cumulative growth has now surged to 177%, as it retains its spot among the biggest weekly gainers.

Shiba Inu 1D Chart 2
Shiba Inu 1D Chart

Amid the surge, Shiba Inu briefly re-entered the top 10 list of largest assets, per data from CoinMarketCap. The cryptocurrency flipped Avalanche (AVAX) to become the tenth largest asset, as its market cap hit the $16 billion mark. SHIB is now battling to retain the spot amid the high volatility.

Shiba Inu Enters Top 10 CoinMarketCap
Shiba Inu Enters Top 10 | CoinMarketCap

The latest price uptick has now pushed Shiba Inu’s weekly RSI above the 80 mark. Interestingly, the last time Shiba Inu’s weekly RSI crossed the 80 mark was in October 2021, when the crypto asset skyrocketed to the $0.00008845 all-time high.

Shiba Inu SHIB Weekly RSI
Shiba Inu SHIB Weekly RSI
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