Shiba Inu Coin & Pepe Coin Whales Offload $26M In SHIB & PEPE, What’s Next?

Amidst a subdued crypto market, Ethereum meme coins Shiba Inu Coin (SHIB) and Pepe Coin (PEPE) have gained attention for their relative stability.

Recent reports have highlighted substantial whale movements involving these coins. According to Spot On Chain, two notable whales have transferred significant amounts of SHIB and PEPE to crypto exchange Binance.

Whale Activity Involving SHIB and PEPE

Whale 0x42a deposited 1.088 trillion SHIB, valued at $18.12 million. Accumulated during the market lows of November and December 2023, the whale has reportedly profited approximately $8 million, representing a 79% gain.

Whale 0x837 moved 700 billion PEPE, worth $7.83 million. Despite this transfer, the whale retains 800 billion PEPE valued at $9.22 million. However, their holdings have collectively declined in value by an estimated $3.47 million, reflecting a 15% loss.