Crypto Investors Bet Big On Shiba Inu And PEPE – Here’s How Much They Bought

Amidst the recent market turmoil, on-chain data reveals a whale accumulating various cryptocurrencies. Notable transfers include the withdrawal of 957.77 billion PEPE and 583.78 billion Shiba Inu, among other meme coins.

This whale made a substantial withdrawal of $120 million worth of assets from Binance. An analysis of the transaction data indicates a diversified portfolio across 14 layer-1, layer-2, and meme coins.

Despite the crypto market experiencing bearish sentiment and sharp price declines, this whale has taken a contrarian approach. They have accumulated 9,425 ETH, valued at $30.15 million, potentially anticipating the launch of Spot Ethereum ETFs.

In addition to ETH, the whale has acquired significant amounts of meme coins, including SHIB and PEPE. These purchases total 957.77 billion PEPE tokens ($9.84 million) and 583.78 billion SHIB tokens ($9.68 million). Other meme coin acquisitions include 58.15 million DOGE ($6.95 million) and 9.49 billion FLOKI ($1.56 million).

Other assets acquired by the whale include 40.7 million USDT, 16,192 BNB ($9 million), 438,721 RNDR ($3.17 million), 5.18 million MATIC ($2.81 million), 3 million FTM ($1.59 million), 104,128 LINK ($1.5 million), 840,776 FET ($1.06 million), 39,141 AVAX ($1.05 million), and 2.76 million GRT ($556,000).

SHIB price has declined alongside the broader crypto market.

Featured image created with Dall.E, chart from Tradingview.com