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A venture capital firm, Nascent, has made a massive memecoin investment, purchasing 447.67 billion PepeCoin assets, worth approximately $5.48 million.
Lookonchain revealed that Nascent’s move came after PEPE’s price plummeted, indicating a dip-buying strategy.
Dip-buying involves market players capitalizing on declining prices to purchase digital assets at discounted prices.
Meanwhile, Nascent’s approach suggests an optimistic stance on PEPE’s prospects despite current fluctuations.
Moreover, the enormous token accumulation presents PepeCoin as among the sought-after gems in the market, solidifying PEPE’s status as top performer.
Nascent’s PEPE acquisition
Spot On Chain detailed that the venture firm completed the PEPE purchase on the Binance exchange. Notably, the investment marked Nascent’s initial investment into PepeCoin.
Furthermore, Nascent has started enjoying early profits, with the current PEPE price placing the company’s floating returns at $262,000 – a 4.8% increase.
Consequently, the frog-themed token now claims the top spot on Nascent’s crypto portfolio, surpassing the likes of MKR.
Nascent’s total investment returns are $2.45 million – a lucrative 248% surge.
The impressive performance highlights Nascent’s success in implementing various strategies in the cryptocurrency industry.
PEPE’s performance attracts top players
PepeCoin has displayed remarkable enactment lately, even hitting all-time highs amid notable price surges
Recent analysis shows massive trading volume, exceeding $41B monthly, drove PEPE’s stunning performance.
The enormous trading volume saw PEPE outperforming established tokens such as Shiba Inu and XRP, boosting PepeCoin’s marketplace presence.
The remarkable rise has seen individual investors and institutions such as Nascent exploring PEPE’s opportunity.
Current PEPE price action
While Nascent’s move indicates an optimistic stance, the PEPE price displayed bearishness at press time.
The meme token lost over 10% within the past day to press times’ figure of $0.00001302.
Meanwhile, PepeCoin’s trading volume noted a 127% surge in the previous 24 hours to $1.98 billion.
Moreover, Coinalyze data shows that PEPE Open Interest plunged by over 16%, underscoring cautiousness among investors.
Despite the faded outlook, PEPE remains among the top assets in the crypto world, with its market cap at above $5.52 billion.
Further, significant acquisitions amid bearish markets reflect strategic moves and confidence about price recoveries in the upcoming sessions.
Market players will likely track Nascent’s performance in the coming days following the significant focus on meme assets.
The post Nascent Ventures accumulates over 445 billion PEPE coins in a strategic move appeared first on Invezz
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