Shiba

Gemini

Shiba Inu

Spot

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
According to a tweet published by the @spotonchain analytics platform, anonymous whales have transferred more than 10 million U.S. dollars <a href="https://u.today/shiba-inu-shib-surges-198-as-whales-make-epic-comeback" rel="noopener noreferrer nofollow">worth of Shiba Inu</a> 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.
<blockquote>
 Two big whales deposited $10.6M worth of <a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SHIB</a> and <a href="https://twitter.com/search?q=%24PEPE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$PEPE</a> to CEX in the past 2hrs as the prices dropped today. Is the <a href="https://twitter.com/hashtag/memecoins?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#memecoins</a> season coming to an end?1. Early buyer 0xd6b deposited 200B <a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SHIB</a> ($6.49M) to <a href="https://twitter.com/hashtag/Gemini?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Gemini</a> and <a href="https://twitter.com/hashtag/Cryptocom?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Cryptocom</a> ~ 1hr ago.Notably, 4 years ago, the whale… <a href="https://t.co/l6M6O4D8Dv" rel="noopener noreferrer nofollow">pic.twitter.com/l6M6O4D8Dv</a>— Spot On Chain (@spotonchain) <a href="https://twitter.com/spotonchain/status/1767509182796755201?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">March 12, 2024</a>
</blockquote>
<h2 id="whales-transfer-billions-of-shib-and-pepe-to-top-cexes">Whales transfer billions of SHIB and PEPE to top CEXes</h2>
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 <a href="https://u.today/pepe-pepe-price-surges-by-60-as-whales-are-surprisingly-buying-meme-again" rel="noopener noreferrer nofollow">PEPE</a> (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.
<blockquote>
 🚨 332,427,690,902 <a href="https://twitter.com/hashtag/SHIB?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#SHIB</a> (10,858,584 USD) transferred from <a href="https://twitter.com/hashtag/Cumberland?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Cumberland</a> to unknown wallet<a href="https://t.co/n9ftIpy60r" rel="noopener noreferrer nofollow">https://t.co/n9ftIpy60r</a>— Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1767248010595963184?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">March 11, 2024</a>
</blockquote>
<h2 id="shib-and-pepe-rebound-from-recent-highs">SHIB and PEPE rebound from recent highs</h2>
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.

Early SHIB Whale Sells $10.6 Million in Top Meme Crypto – Is Meme Coin Season Dying Out?

Table of Contents

U_Today

Other articles published on Mar 12, 2024

ETH touches $4K for the first time since 2021: which ERC-20 meme coin will top 2024?

AI Breakthrough in Lung Cancer Prediction

Solana Smashes Past $150 as Rally Accelerates; $GFOX Soars Over $4 Million

New and Best Meme Coins To Buy Tuesday, March 12 – Doge Killer, SoHotRN, Doge-1 Satellite, Smog

NIGHT CROWS Token Listed

Coinbase Announces $1 Billion Convertible Bond Offering

Join our free newsletter for daily crypto updates!