Pepe

Pepe Coin

Pepe (SOLANA)

Amid the ongoing market turbulence, a glimmer of hope emerges for crypto investors as Pepe Coin, alongside&nbsp;other&nbsp;major&nbsp;cryptocurrencies, garners&nbsp;attention from smart money players.&nbsp;Despite the recent downturn in the broader <a href="https://coingape.com/crypto-market-today-key-reasons-btc-eth-xrp-sol-doge-price-retreat/" target="_blank" rel="noopener noreferrer nofollow">crypto market</a>,&nbsp;the resurgence of&nbsp;Pepe Coin’s price&nbsp;has ignited optimism among investors, prompting discussions about a potential recovery.&nbsp;
Meanwhile, against the backdrop of macroeconomic uncertainties, the shift in focus towards Pepe Coin and other selected cryptos signals a strategic move by investors amidst volatile trading conditions.
<h2 id="span-data-preserver-spaces-true-smart-money-accumulates-pepe-other-cryptos-span">Smart Money Accumulates Pepe &amp; Other Cryptos</h2>
Recent insights from the on-chain transaction tracking&nbsp;platform,&nbsp;Lookonchain,&nbsp;shed light on the smart money’s investment strategies, highlighting a notable allocation towards <a href="https://coingape.com/pepe-price-investors-accumulate-650-bln-pepe-coin-more-steam-left/" target="_blank" rel="noopener noreferrer nofollow">Pepe Coin</a>,&nbsp;along with&nbsp;Fantom (FTM) and Maker (MKR). Notably, the disclosure of significant investments in these assets underscores a calculated bet on the potential upside of selected cryptocurrencies amidst market uncertainty.
The <a href="https://coingape.com/glossary/altcoins/" target="_blank" rel="noopener noreferrer nofollow">altcoins</a> favored by&nbsp;smart&nbsp;investors have sparked discussions in the market. Meanwhile, the Lookonchain insight highlighted that&nbsp;smart&nbsp;money, holding $23.3 million in assets, recently acquired Maker (MKR), Fantom (FTM), and Pepe Coin (PEPE).&nbsp;
For Fantom, the investor spent 726 ETH, approximately $2.26 million, purchasing 3.18 million FTM on May 7. Earlier trades involved buying 3.39 million FTM for $1.13 million and selling it for $2.8 million, earning around $1.67 million.&nbsp;
Simultaneously, in Maker, $1.25 million was used to buy 464 MKR at $2,697 and 379 ETH, worth $1.22 million, to buy 428 MKR at $2,846. In addition, the smart money invested $558,000 to acquire 70 billion PEPE on May 8. These moves provide valuable insights into the altcoin market, indicating trends and preferences among smart&nbsp;investors.
<figure style="width: 100%" class="wp-caption aligncenter"><img decoding="async" src="https://pbs.twimg.com/media/GNScKJOb0AAmvQQ?format=jpg&amp;name=large" alt="Smart Money Wallet" width="752" height="609">
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 Source: Lookonchain, X
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</figure>
<h2 id="span-data-preserver-spaces-true-price-performance-amid-recovery-signal-span">Price &amp; Performance Amid Recovery Signal</h2>
The strategic move of the smart money suggests a bullish outlook on Pepe Coin’s future&nbsp;performance,&nbsp;despite recent market volatility. Notably,&nbsp;the inclusion of&nbsp;Pepe Coin alongside Fantom (FTM) and Maker (MKR) in&nbsp;smart&nbsp;money portfolios indicates a discerning approach toward cryptocurrency investments.&nbsp;
As investors seek refuge from the unpredictability of traditional markets, the allure of digital assets with&nbsp;strong fundamentals and growth potential becomes increasingly apparent. While the <a href="https://coingape.com/glossary/cryptocurrency/" target="_blank" rel="noopener noreferrer nofollow">cryptocurrency</a> volatility persists, the strategic allocation of capital&nbsp;towards Pepe Coin and other selected cryptos signals confidence in their resilience and long-term value proposition.
Meanwhile, as of writing, the <a href="https://coingape.com/price/pepe-coin/" target="_blank" rel="noopener noreferrer nofollow">Pepe Coin price</a> was up 1.27% and traded at $0.000008713, while its trading volume rose 11% to $837.59 million. On the other hand, the CoinGlass data showed that the <a rel="noopener noreferrer nofollow" href="https://www.coinglass.com/currencies/PEPE" target="_blank">Pepe Coin Open Interest</a> also soared 4.36% to 98.26 million. The surge in the OI also signals a bullish sentiment in the market over the <a href="https://coingape.com/meme-coin/" target="_blank" rel="noopener noreferrer nofollow">meme coin</a>.
On the other hand, the <a href="https://coingape.com/price/maker/" target="_blank" rel="noopener noreferrer nofollow">Maker price</a> plunged 1.03% to $2,693.57, while the <a href="https://coingape.com/price/fantom/" target="_blank" rel="noopener noreferrer nofollow">Fantom price</a> slipped 1.01% to $0.7271.
The post <a href="https://coingape.com/smart-money-flocks-pepe-coin-major-cryptos-recovery-ahead/" rel="noopener noreferrer nofollow">Smart&nbsp;Money Flocks To PEPE &amp; These Major Cryptos, A Recovery Ahead?</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Smart Money Flocks To PEPE & These Major Cryptos, A Recovery Ahead?

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