- The whale bought 329.3 billion PEPE by selling all of his UNI.
- The number of PEPEs increased faster than the number of UNIs.
AMBCrypto analyzes the market and finds that many traders think that DeFi tokens will not achieve the same performance as they did in the bull-cycle of 2021.
In the past, this was shown. On 30th April, another piece of evidence appeared— a whale dumped all his Uniswap [UNI] tokens. What was he doing instead? What did he do instead? Pepe [PEPE] Binance has withdrawn the coin.
A note of caution: the traders who made this $7 million profit from holding UNI should be noted. However, dumping tokens in the early stages of the altcoin season shows a lack of confidence.
No PEPE, no show
Also, the accumulation of PEPE was suggested bullish conviction The long-term benefit is the most important thing. The decisions may not surprise anyone familiar with the industry. “followed the money.”
Both tokens showed a similar price trend. proof The dominance of memecoin on the market. PEPE’s year-to-date performance (YTD) was 420% at press time.
UNI changed hands for almost the exact same price as it did at the start of the year. DeFi tokens still have a market capitalization of $104,48 billion despite these data. Memecoins’ market capitalization was $49,50 billion.
This difference is not a true reflection of the situation, as it was the former that had a better year-over-year growth. The number of holders is also important. showed The UNI was more.
PEPE had 211,000 holders, while UNI had 381,000. The figures, like the capitalization of the stock market, do not give a clear picture.
UNI may gather strength but not as much as…
You’ll see that PEPE was able to acquire more holders at a faster pace than UNI. The simple interpretation is that this suggests the DeFi story might not have been one of the main ones for this cycle.
This does not mean, however, that sentiment on the market won’t change. AMBCrypto, as per Acumen, also examined the weighted sentiment.
The social volume is used to gauge the perceived value of projects on the market. At the time of writing, PEPE’s and UNI’s Weighted Feeling were both positive.
While PEPE is o.45 and UNI 0.16 it confirms that traders have a more positive outlook on memecoin.
Moreover, disparity in sentiment This does not mean that UNI will never experience a significant upswing.
Here’s a list of realistic and not-so-realistic images. PEPE’s market cap in UNI terms
If we follow the money, history and narratives that are trending, PEPE may continue to grow. outperform UNI.
The important part of this is that the distance won’t just be a few hundred meters. PEPE’s stock could soar by 2000% in a scenario that is highly bullish. This might not be possible now but it is likely to happen in the months ahead.
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Source: ambcrypto.com