Whales Started Accumulating SHIB and PEPE! Is the Bullish Rally Returning?
In an extraordinary development, in an environment where the overall crypto market is on the rebound, Shiba Inu (SHIB) and Pepe coins are attracting attention. The crypto scene is fueled by on-chain data revealing a phenomenal increase in the accumulation of these coins.
In the last 24 hours, large-scale investors, often referred to as 'whales', have collectively accumulated 624 billion PEPE and SHIB coins from exchanges. This development has caused shock waves in the global crypto community and investors are speculating on the price movement of these meme coins going forward.
Following the recent market corrections, the sudden increase in whale accumulation around SHIB and PEPE has sparked curiosity in the overall crypto market. Despite the decline, market sentiments are now hopeful, fueling speculation on the potential continued supported price movement of Pepe coin and Shiba Inu.
According to on-chain tracker data, a whale with address 0x10Dc made a significant move through OKX today. From the said CEX, Whale accumulated 241.6 billion PEPE worth $1.75 million and 53 billion SHIB worth $1.27 million.
On the other hand, another whale codenamed 0x1c6 withdrew a total of 329.3 billion PEPE from Binance and MEXC in the last 24 hours, supporting the optimistic atmosphere on the tokens in the market. These massive PEPE and SHIB purchases have attracted attention in the crypto industry.
Interestingly, such massive whale accumulations highlight the market's growing confidence and interest in their assets, resulting in an optimistic outlook for their future. At the same time, the on-chain derivative data of Shiba Inu and PEPE also generated great optimism, in line with the optimism born by whale accumulations.
