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Home»ALTCOIN NEWS»WLD, PEPE, & FLOKI bounce back after major cumulative play
ALTCOIN NEWS

WLD, PEPE, & FLOKI bounce back after major cumulative play

By Crypto FlexsSeptember 6, 20244 Mins Read
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WLD, PEPE, & FLOKI bounce back after major cumulative play
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  • A newly created wallet is attracting the attention of blockchain intelligence agencies.
  • One of the major Ethereum companies transfers a huge amount of PEPE from Binance.
  • A few hours later, PEPE and two other cryptocurrencies that were in my wallet started popping out.

A brilliant crypto investor on the Ethereum network perfectly timed the market by leveraging PEPE, WorldCoin (WLD), and FLOKI. On September 2, 2024, the whale created a new on-chain wallet to receive multiple deposits from Binance.

A huge deposit has arrived in your Ethereum wallet.

The Ethereum player cashed out 99,388,628 Pepe at 02:17:35 PM UTC and withdrew it again 4 minutes later. By then withdrawing 292,873,419,428 tokens in bulk, the smart money investor made a total of $2,211,954.70 in Pepe.

In addition to PEPE, investors also withdrew 273,266.96 WLD tokens. The popular AI project gained notoriety when former Microsoft and current OpenAI CEO Sam Altman offered free tokens to those who agreed to have their iris scanned.

WLD is a digital identity-based cryptocurrency that uses WLD tokens for digital identification. Developed by Tools For Humanity in San Francisco and Berlin, this eye-scanning technology allows users to be identified in supported digital environments.

PEPE & WLD prices have recovered, but is the market still fearful?

Just a day after PEPE and WLD were withdrawn from Binance, the two altcoins entered a mini-rebound rally. Pepe’s 3.5% daily gain pushed the frog-themed cryptocurrency to $0.00000772.

WLD recorded a strong 8% bounce to retest the psychological barrier of $1.50. This resistance level is very important for WLD, as the token only bounced above the $2 area after consolidating above the $1.50 support level.

September has historically been a bearish month for the general crypto market, so fear is still the dominant sentiment among most traders. With the fear and greed index pointing to 26, it is clear that a mild panic has set in as Bitcoin has fallen below $58,000. Comparing this index to last week, we can see a quick jump from neutral to significant fear.

Quick update #Cryptocurrency Fear and Greed Index. We are still in the fear phase.

In my opinion, this is a good time to apply dollar cost averaging to a project you have a firm belief in. This is not financial advice! pic.twitter.com/4RdADqqbWX

— Conor Kenny (@conorfkenny) September 3, 2024

While crypto analysts are divided on whether to apply dollar-cost averaging (DCA) to well-researched projects or look for treasure in this murky market phase, DailyCoin has dug deeper into the wallets of Ethereum whales and discovered that FLOKI is the second-largest asset.

FLOKI stood out from the general altcoin crowd due to its decoupling a week ago. By the end of August, FLOKI had outpaced the rest of its competitors, becoming the most socially dominant meme coin during a 21% rally.

Meanwhile, other meme coins like Shiba Inu (SHIB) and Dogecoin (DOGE) have seen double-digit losses over the same period. FLOKI, which has an estimated value of $530,000 in whale wallets, has also risen 3% over the past 24 hours and is currently trading at $0.0001233, according to CoinGecko.

On the other side

  • Following numerous investigations into WorldCoin’s operating practices worldwide, WLD has fallen by over 87% from its all-time high of $11.74 on March 10, 2024.
  • This means that only 2% of current WLD holders are profiting, and WLD’s OI-weighted funding ratio remains negative, indicating a decline in interest in token investment.

Why this matters

Digital assets flowing from centralized exchanges to self-custodial wallets are typical of the accumulation phase, meaning that cryptocurrency investors are increasing their holdings rather than realizing profits.

Check out DailyCoin’s popular cryptocurrency news:
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