Amid a market downturn with Bitcoin (CRYPTO:BTC) falling below $59,000, a significant crypto whale has seized the opportunity to bolster their portfolio.

The whale withdrew $120 million worth of assets from Binance, diversifying across 14 cryptocurrencies including meme coins like Shiba Inu (CRYPTO:SHIB) and PEPE (CRYPTO:PEPE).

Notable withdrawals include 957.77 billion PEPE tokens and 583.78 billion SHIB tokens, valued at $9.84 million and $9.68 million respectively.

Despite market volatility and widespread selling by other whales, this new wallet is aggressively accumulating assets, including 9,425 ETH worth $30.15 million, anticipating future gains from the upcoming Spot Ethereum (CRYPTO:ETH) ETF launch.