Nascent Acquires $5.85 Million Worth of PEPE Despite Market Dip
CryptoNewsTerminal Staff08 Jun, 2024
Nascent Acquires $5.85 Million Worth of PEPE Despite Market Dip
In a recent display of confidence in the cryptocurrency market, venture capital firm Nascent purchased a substantial amount of PEPE tokens during a recent market downturn. According to Lookonchain, a cryptocurrency-focused venture capital firm, Nascent purchased approximately 447.67 billion PEPE tokens, valued at roughly $5.85 million, approximately 10 hours ago. Despite a significant drop in PEPE's value, Nascent's investment signals a belief in the token's long-term potential. Currently, PEPE is trading at $0.00001301, reflecting a 10.03% decline based on Binance's USDT market. Nascent's purchase of such a large number of tokens at a discounted price suggests that the firm anticipates a recovery in PEPE's value in the future. It is important to note that the cryptocurrency market remains highly volatile, and any investment should be made with caution. However, Nascent's substantial investment in PEPE is a noteworthy indication of confidence in the cryptocurrency's growth potential.
