u.today
According to a tweet published by the @spotonchain analytics platform, anonymous whales have transferred more than 10 million U.S. dollars worth of Shiba Inu and $4.3 million worth of $PEPE to three major centralized exchanges after the prices of both meme cryptocurrencies bounced back today. Both of these whales will get a massive profit if they indeed sell their meme coins, the tweet says.
The aforementioned source ponders that the meme coin season could possibly be approaching its end now, after both $SHIB and $PEPE have demonstrated large rebounds.
Two big whales deposited $10.6M worth of $SHIB and $PEPE to CEX in the past 2hrs as the prices dropped today. Is the #memecoins season coming to an end?
— Spot On Chain (@spotonchain) March 12, 2024
1. Early buyer 0xd6b deposited 200B $SHIB ($6.49M) to #Gemini and #Cryptocom ~ 1hr ago.
Notably, 4 years ago, the whale… pic.twitter.com/l6M6O4D8Dv
Whales transfer billions of $SHIB and $PEPE to top CEXes
On-chain data platform @spotonchain shared that one of these whales was an early $SHIB holder. He bought a staggering 15.2 trillion $SHIB four years ago, paying 10 $ETH for that meme coin lump (in 2020, $ETH rose from $262 in the beginning to $590 at the end of the year).
Not long ago today, this investor transferred 200 billion Shiba Inu (worth $6.49 million) to the Gemini and Crypto.com exchanges. Now, he still has 2.6 trillion $SHIB (evaluated at $85.15 million in fiat) left and an estimated profit of approximately $129 million on that amount of meme crypto.
The second whale transferred a massive 500 billion $PEPE (worth $4.13 million) to the OKX exchange. If he sells this lump, the tweet states, the whale’s profit will be equal to $3.36 million (plus 30.9% rise). Curiously, the post emphasizes that the whale started his $PEPE trading just 10 days ago.
Popular blockchain sleuth Whale Alert has also noticed a large movement of $SHIB meme coins on March 11. A mammoth-sized amount of Shiba Inu was moved from a wallet belonging to crypto trading firm Cumberland to an anonymous wallet – 332,427,690,902 $SHIB.
🚨 332,427,690,902 #$SHIB (10,858,584 USD) transferred from #Cumberland to unknown wallethttps://t.co/n9ftIpy60r
— Whale Alert (@whale_alert) March 11, 2024
$SHIB and $PEPE rebound from recent highs
Both $SHIB and $PEPE meme cryptocurrencies have shown major rebounds over the last week. Shiba Inu shed 28.43% since March 5 after soaring to the $0.00004564 high. As of this writing, the second largest meme coin is changing hands at $0.00003266.
$PEPE has staged a 16.80% rebound to $0.00000825 after reaching a high at $0.00000991 on March 9 after a 48.16% price surge.