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Today: July 22, 2024
June 9, 2024
1 min read

Nascent Ventures amasses 445 billion PEPE coins in savvy maneuver

TLDR:

  • Nascent Ventures acquires over 445 billion PEPE coins worth $5.48 million in a strategic move.
  • The strategic investment by Nascent highlights their optimistic stance on PEPE’s prospects and solidifies PEPE’s status as a top performer in the market.

A venture capital firm, Nascent, has made a significant investment in the meme coin, PepeCoin, purchasing 447.67 billion PEPE assets valued at approximately $5.48 million. The move was a dip-buying strategy executed by Nascent after the price of PEPE plummeted. Dip-buying involves purchasing digital assets at discounted prices when prices are declining. Nascent’s acquisition of PEPE on the Binance exchange marked their first investment in the coin, making PEPE the top asset in their crypto portfolio. The purchase has already yielded early profits for Nascent, with floating returns of $262,000, representing a 4.8% increase.

PepeCoin’s recent remarkable performance has seen it achieve all-time highs and outperform well-established tokens like Shiba Inu and XRP. Despite a current bearish outlook in the market, with PEPE’s price declining by over 10% to $0.00001302, Nascent’s strategic move underscores confidence in potential price recoveries. PEPE’s trading volume surged by 127% in the past 24 hours to $1.98 billion, reinforcing its marketplace presence with a market cap above $5.52 billion.

The substantial investment by Nascent in PEPE signifies strategic moves amid bearish markets and suggests confidence in the potential of meme assets. The post Nascent Ventures accumulates over 445 billion PEPE coins in a strategic move appeared first on Invezz highlights Nascent’s successful implementation of various strategies in the cryptocurrency industry, signaling a positive outlook for PEPE’s future performance.

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