The famous altcoin whale, known on the Internet as Machi Big Brother, has long been standing over Apecoin (APE). He proved once again that he was persistent with the thousands of APEs he bought in the last 3 days.
New reports reveal whale’s exaggerated Apecoin purchases
cryptocoin.com We have reported on several major altcoin acquisitions of Machi Big Brother in recent weeks. Whale watcher Lookonchain shared that the giant investor has focused on Apecoin (APE) in the last 3 days. These purchases were made from the Binance account and spent a total of $713,000. According to Lookonchain’s report:
Machi Big Brother spent 423 ETH ($713k) in the last 3 days to buy 487,519 APE, again at $1.46.
Machi Big Brother spent 423 $ETH($713K) to buy 487,519 $APE at $1.46 again in the past 3 days and has accumulated a total of 3.53M $APE($5.2M) in August.
And another whale also withdrew 650K $APE($956K) from #Binance 1 hour ago.https://t.co/9gOAdVRKsYhttps://t.co/MxtoS0BcUV pic.twitter.com/jT5z7cpCEo
— Lookonchain (@lookonchain) August 31, 2023
According to the details of the report, Machi Big Brother completed an exaggerated altcoin purchase during the month of August. More than $5.3 million in APE investment came despite the sharp price drop. According to Lookonchain:
Machi Big Brother has amassed a total of 3.53 million APE ($5.2 million) in August.
What is the altcoin whale waiting for? Apecoin weakens on all metrics
ApeCoin surged close to 9% on Tuesday as the entire crypto market saw a bounce. While on-chain metrics give different signals, bears continue to dominate according to price charts.
The higher timeframe market structure for ApeCoin was definitely in favor of the sellers. The psychological $1.5 resistance remained intact last week. The Fibonacci extension levels have been respected so far, showing that a move towards $1.2 is likely.
