Whales Buy 624 Bln in SHIB & PEPE: Rally Onward? Shiba Inu & Pepe currency has taken centre stage in an extraordinary turn of events within the crypto market’s comeback narrative. On-chain data is blowing up the crypto horizon, showing an unheard-of spike in the accumulation of these coins.
In the past 24 hours, whales, large-scale crypto investors, have been on a buying spree. They’ve collectively accumulated a whopping 624 billion PEPE and SHIB coins from exchanges. This significant activity has sent ripples through the global crypto community. Consequently, investors are now eagerly speculating about the potential impact on meme coin prices.
Pepe Whale & Shiba Inu Accumulations Spark Market Hope
The abrupt increase in whale accumulations around SHIB and PEPE, which followed recent market declines, has aroused interest in the larger cryptocurrency market. Market sentiments are now optimistic despite the downturn, sparking rumours of a possible sustained, strengthened price movement for the Shiba Inu and Pepe coin.
An on-chain tracker’s data indicates that a whale using the address 0x10Dc and connecting via OKX has advanced significantly today. From the CEX above, the whale amassed an incredible 241.6 billion PEPE, valued at $1.75 million, and 53 billion SHIB, valued at $1.27 million.
In contrast, whale 0x1c6 took out 329.3 billion PEPE from MEXC and Binance over the previous day, which increased the market’s positive buzz around the tokens.
The massive SHIB and PEPE purchase has drawn the cryptocurrency community’s attention.
These enormous whale accumulations are intriguing. They signal a surge in confidence and buying interest within the market for these assets, suggesting a potentially bright future. This bullish sentiment is further amplified by on-chain derivatives data for Shiba Inu and PEPE. The data shows a significant increase in optimism surrounding these tokens, mirroring the positive outlook created by the whale activity.
PEPE and SHIB Price Actions
Shiba Inu’s price as of this writing is $0.00002333, down 0.80% over the previous day. Pepe coin traded at $0.00000694 with a 0.55% decline over the past day. It’s important to remember that SHIB traded as high as $0.00002461 today, while PEPE traded as high as $0.000007585, even though the tokens were only slightly down at publication.
Coinglass statistics revealed a 4.13% rise in SHIB’s open interest, whilst its derivatives volume surged 48.16%. PEPE’s open interest increased by 3.32%, while the volume of derivatives increased by 35.45%. This demonstrated investors’ increased interest in the tokens, but it’s important to remember that the cryptocurrency market is unstable. Fans of the cryptocurrency market are still making predictions about how the prices of Pepe and Shiba Inu will move.
