According to Crypto on-chain data, a crypto whale created a new wallet address and purchased a total of 448.14 million sudeng (HIPPO) worth 1.05 million dollars in the last two days.
With these buy outs, this crypto whale has become the second largest HIPPO whale, excluding exchanges.
Interestingly, in recent days, two other crypto whales had accumulated 1.26 billion HIPPO tokens worth 2.94 million dollars from exchanges. One of them, who bought 627 million HIPPO tokens for 1.28 million dollars at that time, became the largest holder of the token.
HIPPO, a memecoin based on the Sui network, is currently trading at $0.002530, which is 91% lower than its all-time high price level at the time of writing this article. The token has lost approximately 5% of its value in the last week. Despite the price drop, the transfers by whales have raised questions about the purpose of the purchases.
HIPPO, with a market value of 25 million dollars, had seen its total market value exceed 250 million dollars during its peak period.
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