• Within the past 14 hours, two large whales deposited $25.95 million worth of $SHIB and $PEPE to Binance. Is this a sign that whales are becoming bearish on Ethereum and memecoins?

    Whale 0x42a

    • Transaction: Deposited all 1,088T $SHIB worth $18.12 million ~14 hours ago.

    • Accumulation phase: November and December 2023 (market bottom phase).

    • Estimated profit: $8 million (+79%).

    Whale 0x837

    • Transaction: Deposited 700B $PEPE worth $7.83 million ~3 hours ago.

    • Current holdings: 800B $PEPE worth $9.22 million.

    • Estimated total loss: $3.47 million (-15%).

    Analysis and Comment

    Whale 0x42a and $SHIB

    Whale 0x42a accumulated $SHIB in November and December 2023, when the market bottomed. The deposit of all 1,088T $SHIB to Binance may be a sign of preparations for a sale, aiming to realize an estimated profit of $8 million (+79%). This could indicate that this whale is becoming pessimistic and decided to take profits.

    Whale 0x837 and $PEPE

    In contrast, whale 0x837 deposited 700B $PEPE to Binance for an estimated total loss of $3.47 million (-15%). This could indicate the whale is trying to minimize damage or has a different strategy in handling its $PEPE.

    Market Commentary

    The large deposits of $SHIB and $PEPE to Binance from two large whales can be seen as a pessimistic signal for memecoins. This action could negatively impact the price of $SHIB and $PEPE as the market realizes a major sell-off is on the horizon.

    For investors:

    • $SHIB: Whale 0x42a's full deposit of $SHIB could create strong selling pressure, leading to a short-term price drop. Investors should consider the nearest support levels to make appropriate decisions.

    • $PEPE: Given whale 0x837's loss, there is likely to be additional selling pressure if the price continues to fall. Investors should carefully monitor price fluctuations and trading volume to make reasonable decisions.

    Conclude

    Two large whales have deposited $SHIB and $PEPE on Binance, possibly a sign that they are becoming bearish on these coins. Investors should closely monitor the situation and have appropriate strategies to protect their assets.

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