As per Nansen’s data recorded on May 7, it has come to light that the largest buyer of PEPE and FLOKI over the past seven days has allocated approximately 35% of their investment portfolio to meme coins. This individual, identified through on-chain analysis, has demonstrated a significant inclination toward meme-based cryptocurrencies. Such insights shed light on the prevailing trends and preferences among investors within the cryptocurrency market, particularly regarding meme coins.
PEPE and FLOKI Inflows
According to insight from Crypto Briefing, smart money traders accumulated over $50 million in PEPE and FLOKI over the last seven days. Nansen data shows that the biggest PEPE and FLOKI buyer has almost 35% of his portfolio consisting of meme coins.
In the last seven days, PEPE and FLOKI were the two preferred Ethereum-based meme coins from smart money traders. PEPE registered $48.8 million in smart money inflows in the period, while FLOKI got $4.3 million in investments.
The largest PEPE buyer in the past seven days is a “Smart DEX Trader”—a label created by Nansen to address the most profitable on-chain traders. He holds over $1.2 million in PEPE at the time of writing, representing 15% of his holdings.
Moreover, he made the largest FLOKI buy of the past week, adding $1 million to his portfolio. The wallet also holds Shiba Inu (SHIB), nearing $700,000 of this meme coin. Those three tokens represent almost 35% of this trader’s portfolio.
Source: Nansen
Another address labeled a Smart DEX Trader also accumulated over $1.2 million in the same period, which is 5.6% of his portfolio. This address also holds $1.7 million of the DEGEN meme coin, which amounts to 13% of his holdings. Aside from smart money, wallets created in 1000 days or less have accumulated over $1.1 billion in PEPE, while FLOKI received $129 million in investments for the past seven days.
Furthermore, the meme coin fever is gearing up again. Solana, the most popular ecosystem for meme coin launches, registered a new daily all-time high for new tokens on May 4, with 14,648 tokens launched that day.
What is Smart Money?
Smart money is capital controlled by institutional investors, market mavens, central banks, funds, and other financial professionals. It was originally a gambling term referring to wagers made by gamblers with a track record of success. To track smart money, investors can analyze data sources such as CFTC filings, volume analysis, insider trading reports, 13F filings, news analysis, and market sentiment analysis. While identifying smart money can provide valuable insights, it is important to conduct thorough research and analysis before making any investment decisions.
PEPE Price
At the time of this writing, PEPE is trading at $0.000007933, a 4.4% decrease from the last 24 hours. The trading volume is $600,160,402 and the market capitalization is $3,312,905,004.
Source: TradingView
FLOKI Price
At the time of this writing, FLOKI is trading at $0.0001700, a 5.5% decrease from the last 24 hours. The trading volume is $119,680,954 and the market capitalization is $1,646,580,403.
Source: TradingView
You can also buy PEPE and FLOKI easily on Bitrue. Bitrue is dedicated to providing safe, convenient, and diversified services to meet all crypto needs, including trading, investing, purchasing, staking, borrowing, and more.
Conclusion
Recent data from Nansen has revealed a notable trend among cryptocurrency investors, particularly regarding the significant allocation of investment portfolios to meme coins. The largest buyer of PEPE and FLOKI in the past seven days, identified through on-chain analysis, has dedicated approximately 35% of their holdings to meme-based cryptocurrencies. This observation underscores the growing interest and preference for meme coins within the cryptocurrency market.
Furthermore, smart money traders’ influx of over $50 million into PEPE and FLOKI further emphasizes the significance of meme coins in recent market activity. With PEPE registering $48.8 million and FLOKI receiving $4.3 million in investments, it’s evident that these Ethereum-based meme coins have garnered considerable attention from investors. These insights shed light on the evolving dynamics of the cryptocurrency market, highlighting the resurgence of meme coin fever and its implications for investor behavior and market trends.
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