- The market tilts toward utility in gaming tokens over meme coins.
- While SHIB’s growth suffered after the investment, MANA, SAND, and GALA’s showed promise.
- Notable Whale sells PEPE, profits $3.49M, and diversifies into SHIB, MANA, SAND, and GALA.
A notable whale investor recently made headlines by offloading 1.97 trillion PEPE tokens. This move netted $3.49 million in profit, as per Lookonchain, a crypto sleuth.
The investor promptly redirected these funds into a diverse array of cryptocurrencies, notably SHIB (Shiba Inu), MANA (Decentraland), SAND (The Sandbox), and GALA. This decision underscores an understanding of market dynamics and a commitment to diversifying investment portfolios to harness growth opportunities in various crypto sectors.
Following this portfolio adjustment, the market witnessed notable shifts in the performance of the selected cryptocurrencies. Despite the massive sell-off, PEPE tokens experienced a slight uptick in value, rising by 5.61% to $0.000003.
Conversely, SHIB encountered a significant downturn, with its value plummeting by 5.41%, trading at $0.000013, casting doubts on its future market trajectory. The dip in SHIB’s value post-investment illustrates the volatile and unpredictable crypto market.
However, other assets in the whale’s revamped portfolio, such as MANA and SAND, displayed promising growth, surging by 8.47% and 7.20%, with prices hovering at $0.646555 and $0.625977, respectively. GALA also saw a positive adjustment, with its price currently trading at $0.039623 and increasing by 0.40% in 24 hours.
As per an earlier report, MANA’s price trajectory suggests a potential further upsurge, with technical indicators favoring the bulls, hinting at a possible climb to $0.94. Similarly, SAND exhibits bullish patterns, with critical technical crossovers suggesting an upward move toward $0.70.
GALA, having attracted the most prominent investment from the whale, shows bullish projections with the possibility of ascending to $0.079, according to Fibonacci indicators. This collective momentum in gaming tokens underscores a broader market sentiment, indicating a shift from meme coins to assets with tangible utility and growth prospects in the blockchain gaming sector.
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