According to Crypto Onchain Data, Crypto Whale has created a new wallet address and purchased 448.14 million Sudeng (Hippo), worth a total of $1.05 million over the past two days.
These purchases made this crypto whale the second largest cobajra when excluding exchanges.
Interestingly, the other two crypto whales have recently accumulated 1.26 billion tokens worth $2.94 million from the exchange. Of these, the crypto whale, which purchased 627 million coffe tokens worth $1.28 million at the time, became the largest owner of the token.
Hippo, a Memecoin based on the SUI network, is trading at $0.002530 at the time of writing, 91% lower than its all-time high. The token has lost about 5% of its value over the past week. Despite the price drops, these moves by whales raise questions about the purpose of the purchase.
Its market capitalization was $25 million, and Hippo rose at its peak with a total market value of over $250 million.
*This is not investment advice.
