A major crypto whale, known by the wallet address 0x7271, has pivoted away from the meme coin PEPE to take a massive leveraged position in Ethereum (ETH), according to data from HyperInsight.
Here is a breakdown of the strategy shift:
The PEPE Exit
The investor officially closed out a long position on PEPE, walking away with a realized loss of $314,500. This exit signals a cooling sentiment toward meme-based volatility in favor of a more established asset.
The Ethereum Pivot
Immediately following the PEPE exit, the whale opened a high-conviction trade on Ethereum.
* The Position: A 4x leveraged long on 5,618.97 ETH.
* Market Value: Approximately $17.75 million.
* Average Entry: $3,097.29 per ETH.
Current Status
The move appears to be paying off early. The investor has already offset their PEPE losses with an unrealized profit of $330,000 on the new ETH position.
ETH
3,318.41
-0.18%
PEPE
0.0₅609
-7.86%