Major Investment Firm Bets Big on Plunging Altcoin: Buying for the First Time

According to cryptocurrency on-chain data, wallets linked to investment firm Nascent have made their first ever purchase of PEPE.

During the recent PEPE price dip, data shows that these wallets made $5.48 million worth of purchases on Binance. As the price has since increased, Nascent's wallets currently have an unrealized profit of $262,000, or 4.8%, on their PEPE positions.

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Among the company's cryptocurrency wallets, PEPE is the largest asset, with recent buy and sell activity. Maker DAO (MKR) is the second largest asset, and the company holds an unrealized profit of $2.45 million, or 248%, on its MKR holdings.

Nascent appears to have benefited from the recent dip in memecoins, which occurred during RoaringKitty's live broadcast yesterday.

Nascent's total assets amount to approximately $12.6 million. Following PEPE and MKR, its largest assets include AWBTC, USDT, ACX, ETH, and USDC.

Disclaimer: This information is not intended as investment advice.