This week began with considerable volatility in the crypto market as a major investor in Pepe Coin shifted focus to EIGEN, causing substantial discussions within the community. The investor executed a substantial selloff of 130 billion PEPE tokens.
On-chain data reveals that alongside selling PEPE, the investor diversified their portfolio by purchasing more than 200K Ethereum-based EIGEN tokens, indicating a strategic shift in investment preference.
These market moves have garnered significant attention, with participants keenly observing the impact of such large-scale transactions in an already unstable market environment.