As ETH whales go APE shopping, here’s what you should know before doing the same

ambcrypto.com:

Despite APE’s recent setback and a massive price correction, dominant buyers continue to show faith in the token. What’s going on here?

ApeCoin crashed from $24.86 to $16.73 following Saturday’s Otherside sale. One of the reasons could be the congestion caused on the Ethereum blockchain through the minting of Otherdeed NFTs. This resulted in some failed transactions and services like Uniswap slowed down.

Soon the flagship coin witnessed a fall in the number of holders as well. As per CoinMarketCap, Apecoinlost around 10k followers at the time of writing. But looks like, dominant buyers still didn’t lose interest.

Dominant buyers, aka whales, and in this case – Ethereum whales, have acquired large chunks of the trendy APE tokens. WhaleStats crypto tracker reported that two major whales have purchased APE tokens worth $9 million in total.

Whale “Jiraiya” acquired 499,998 APE worth $8.1 million as per this tweet on 1 May. Overall, “Jiraiya” stored $8,625,918 in APE.