Base token soars over 800% and investors rush to accumulate

Bases token Fren Pet (FP) has soared over 800% in the last 30 days, according to data aggregator CoinGecko. FP price movements have recently hit investors, with over $1 million bought over the last 24 hours as data from Nansen reveals.

FP powers the Tamagotchi game, which consists of users raising a pet and putting them to fight other players‘ pets. Nansen highlights on an X post that Ansem, a notorious figure in the crypto community, bought the equivalent of $32,000 of FP. However, his investment wasn’t even among the 10 largest FP acquisitions in the past 24 hours.

The token has a fully diluted market cap of over $136 million in its current $13.44 price, and surpassed $10 million in trading volume in the last 24 hours, with around 95% of that moving through Uniswap.

Despite the significant accumulation movement seen recently, FP early investors are also taking profits, as the netflows from addresses holding the token are $14,760 negative. Some addresses have been accumulating FP since its price ranged between $0,40 and $0,50 back in November 2023, as reported by Nansen on X.

Nonetheless, the recent profit-taking didn‘t slow down FP’s pace, as the token jumped 37% in the last 24 hours.