The $EIGEN token is gaining attention as it sees increasing accumulation from Smart Dex Traders (SDTs) and Smart Money (SM).
Currently, $EIGEN ranks #1 among tokens accumulated by Smart Money and #3 in the top tokens highlighted by SDTs for good entry points.
Notably, five hours ago, the wallet 0xcfc5, associated with Robert Leshner, purchased 147,000 $EIGEN tokens, valued at $494,200, at an average price of $3.4.
Additionally, in the past 20 hours, the wallet 0x3737, known as "ThisWillMakeYouLoveAgain," made a substantial purchase of 458,700 $EIGEN, worth $1.53 million, at an average price of $3.5. These large transactions indicate confidence from prominent investors in the token's future.
Just four days after launch, $EIGEN has reached a market capitalization of $634 million with a fully diluted valuation (FDV) of $5.27 billion. On-chain data shows significant trading activity, with $100 million in decentralized exchange (DEX) buy volume, signaling strong retail demand. However, there is also $170 million worth of $EIGEN transferred to centralized exchanges (CEXs), indicating potential sell pressure.
Despite the large interest, Smart Money on-chain traders have accumulated only $100,000 in $EIGEN so far, as much of their focus remains on meme tokens. Nevertheless, 73 million $EIGEN tokens have already been re-staked, reducing the overall sell-side pressure and pointing to long-term investor commitment.
As $EIGEN continues to garner attention from both retail investors and large players, its strong on-chain metrics and strategic accumulation from key traders suggest it could have significant growth potential in the near future.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.