According to on-chain analysis service Spot On Chain, pseudonymous memecoin whales have been transferring large amounts of both SHIB and PEPE to major centralized exchanges to realize their gains, with one whale realizing over $6 million in gains by depositing over 200 SHIB onto Gemini and Crypto.com.
The whale has been trading the meme-inspired cryptocurrency after buying 15.2 trillion tokens four years ago for 10 ETH. The whale is estimated to have a profit of around $129 million with 2.6 trillion tokens left in their wallet.
