In the dynamic world of cryptocurrency, meme coins have emerged as a captivating trend, drawing considerable attention from investors. Notably, this year has witnessed a flurry of activity in the meme coin segment, with notable performers like WIF and BODEN gaining traction alongside established names like Dogecoin and Shiba Inu. 

However, recent developments suggest a shift in focus as a prominent whale redirects attention to a new contender: PUPS (Ordinals) (PUPS). So, let’s quickly take a tour of the implications of this move and the factors driving the surge in interest.

Whales Shift Focus From WIF & BODEN

Amid the recent hype surrounding meme coins, a significant transaction has caught the eye of the crypto community. According to a recent report by on-chain data tracking platform Lookonchain, a whale has made a strategic shift towards PUPS, a meme coin project built on the oldest blockchain platform. 

Notably, the whale exchanged a substantial amount of BODEN and WIF for PUPS, signaling growing confidence in this emerging meme coin. This move has sparked speculations among the market participants over a potential shift in focus of the investors.

Meanwhile, the transaction involved the whale spending 1.8 million Boden (worth approximately $1.15 million) and 1.05 million WIF (worth around $2.63 million) to acquire 54,161 PUPS, valued at approximately $2.88 million. He has purchased the PUPS crypto at an average price of $70 since April 11.

Notably, the whale still retains significant holdings in both BODEN and WIF, indicating a calculated diversification strategy within the meme coin space. Precisely, he still has 20 million BODEN, worth around $16.4 million, and 2.22 million WIF, worth around $6.1 million, in his portfolio.

Also Read: Bitcoin Price Risk Falling On Options Expiry Before Bitcoin Halving?

Rise of PUPS and Market Speculation

PUPS, positioned as the first meme coin on the Bitcoin blockchain, has garnered attention for its unique features and growing investor interest. With a focus on innovation and community engagement, PUPS has differentiated itself in a crowded market, attracting both traders and enthusiasts alike.

In addition, endorsements from prominent figures within the crypto space, such as popular trader Ansem, have further fueled speculation surrounding PUPS. Ansem’s recent comparison of WIF to PUPS has underscored the potential for a significant upside in the meme coin space, driving curiosity and investment activity.

Meanwhile, as PUPS continues to make waves in the cryptocurrency sphere, investors are closely monitoring its progress and evaluating its long-term viability. With the support of strategic players like the aforementioned whale and endorsements from key influencers, PUPS appears poised to carve out a distinct niche within the meme coin ecosystem.

As of writing, the PUPS price was up 9.02% and traded at $54.27, while its trading volume soared 58.04% over the last 24 hours to $7.26 million. Notably, the crypto has touched a high of $107.22 and a low of $38.10 in the last 24 hours.

PUPS Price

On the other hand, the BODEN price rose 34.10% over the last 24 hours to $0.7396, with its trading volume rising 10% to $41.15 million. Simultaneously, the WIF price rose 17.10% to $2.68, and its trading volume surged 39.58% to $679.43 million.

BODEN Price

Also Read: Ethereum Gas Fee Crashes to Three-Month Low, ETH Price Recovers to $3,100

The post Whales Shift Focus To This New Meme Coin From WIF & BODEN appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am