A massive cryptocurrency whale that allegedly has a “100% win rate” has recently increased its position on the popular meme-inspired cryptocurrency $PEPE after a four-month hiatus, adding 101.7 billion tokens to their war stash in a withdrawal from leading exchange Binance.
According to data shared on the microblogging platform X (formerly Twitter) by a cryptocurrency analyst, the cryptocurrency whale has been steadily building its position in PEPE over the past four months, beginning on June 1.
Their total holdings now stand at 613.8 billion tokens, valued at $8.17 million, accumulated at an average cost of $0.0000133132 per token, which means the whale is currently holding onto an unrealized loss of $2.18 million.
As CryptoGlobe reported, late last month a popular cryptocurrency strategist known for accurately calling the cryptocurrency market bottom in 2018, has pointed to the meme-inspired cryptocurrency PEPE as “easy money” after it formed an ascending triangle pattern.
An ascending triangle, it’s worth noting, is a type of chart pattern that technical analysts use to predict price movements. It consists of a horizontal line that connects the high points of the price and a rising line that connects the low points of the price. The two lines form a triangle shape that is used to look for price breakouts, either up or down.
Ascending triangles are usually seen as continuation patterns, meaning that they indicate that the price will continue in the same direction as the trend before the triangle was formed.
It’s worth noting Bluntz is famous for, in June 2018, predicting the bear market that was seeing the price of bitcoin drop from a then all-time high near $20,000 would end with the coin trading at $3,200. The prediction was nearly accurate, as BTC hit the target in December of that year.
Featured image via Pixabay.
