The post Whales Stack Pepe As Cosmos Extends Declines, But It Is KangaMoon That Has The Attention of Investors appeared on BitcoinEthereumNews.com.

The past several weeks have not been very exciting for the crypto market as some of the altcoins have been declining while others are more or less attempting to rise. While Pepe whales have been buying a spree, Cosmos has failed to get out of the descending channel and this has made many investors liquidate. On the flip side, KangaMoon has been the star of the bull market, more than doubling its price in the week when most of the cryptos faced losses. KangaMoon is expected to lead the market in gains in the second half of this year as more and more people engage with its SocialFi system. Pepe Whales Go on Buying Spree Anticipating a Price Increase In the first half of this year, Pepe Coin (PEPE) was one of the biggest gainers, rallying by more than 800%. However, mirroring the price movement of the crypto market in June, the price of the meme coin has dipped by more than 25% in the last 30 days. Pepe whales are taking advantage of the price dip to increase their bags. Whale Alert highlighted that a major whale bought over 1.23 trillion PEPE tokens worth over $14.7 million. The massive accumulation of the meme coin shows that whales believe the price of Pepe could recover in the coming weeks. Cosmos (ATOM) Extends Declines Below Key Support Cosmos (ATOM), the leading interoperable blockchain, has been on a descending line throughout 2024. The Cosmos crypto has lost more than one-third of its value in the market since the beginning of the year. The nature of the crypto market is such that prices fluctuate, and there are periods of decline, and this is where ATOM finds itself. New market lows have pushed Cosmos crypto under the important $7 level of support for the…

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Filed under: News - @ July 5, 2024 5:08 am