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SHIB and PEPE large transaction volume surges by triple digits
The digital currency ecosystem is experiencing a resurgence, with meme coins like Shiba Inu (SHIB) and PEPE benefiting from it. Currently, the memecoin market is up 4.47% in the past 24 hours, reaching $58,026,790,606. Shiba Inu and PEPE rose 2.34% and 14.07% to $0.00002246 and $0.00001367 respectively.
🔸 Important bullish sign
In addition to rising prices, the number of large transactions by whales in these memecoin ecosystems has also increased significantly. According to data from crypto analysis platform IntoTheBlock, SHIB’s large transactions increased sharply by 170.84% within 24 hours, reaching 436 transactions with an amount of $467.2 million and a total of 21.62 trillion SHIB tokens. PEPE also saw significant improvement, with large transaction volume increasing 127.87% to $174.07 million. PEPE whales made 419 transactions worth over $100,000 in 24 hours, managing 13.62 trillion tokens during the period.
This trend highlights the positive correlation between the two meme coins’ bullish signs. However, whether whale activity can sustain long-term growth remains unknown.
🔸 Main differences
Despite the correlation across the memecoin ecosystem, PEPE benefits more as it lacks the key internal fundamentals that fueled its bullish surge. Even with these differences, Shiba Inu and PEPE continue to battle for dominance, creating a lasting rivalry between the two coins.
