Close to $30M Worth of SHIB & PEPE Offloaded: Why PEPE Whales Now Target Pepe Unchained for 2000% Gains

Whales offload millions of SHIB and PEPE, targeting Pepe Unchained as a potential high-gain meme coin investment due to its layer-2 solution and presale success.

In a surprising turn of events within the cryptocurrency market, major holders of Shiba Inu Coin (SHIB) and Pepe Coin (PEPE) have offloaded nearly $30 million worth of these assets. 

This massive sell-off has sparked concerns about the future performance of these popular meme coins. However, the real story lies in where these whales are reallocating their capital. 

The new low-cap altcoin, Pepe Unchained (PEPU), is emerging as a prime target for these investors, driven by its innovative Layer-2 solution and presale success.

Shiba Inu Coin & Pepe Whales Offload $26M in SHIB & PEPE

Shiba Inu Coin (SHIB) and Pepe Coin (PEPE) have recently remained relatively stable despite a massive sell-off by large holders, or “whales,” in the broader sluggish crypto market. 

According to on-chain analytics platform Spot On Chain, two major whales have moved $25.95 million worth of SHIB and PEPE to Binance. This substantial movement has raised questions about the future performance of these meme coins.

One whale, identified by the address 0x42a, deposited 1.088 trillion SHIB, valued at $18.12 million. This whale accumulated these coins during the market lows of November and December 2023, resulting in an estimated profit of $8 million, reflecting a 79% gain. 

In contrast, another whale, identified as 0x837, offloaded 700 billion PEPE, worth $7.83 million, while still holding 800 billion PEPE valued at $9.22 million. Despite the sell-off, this whale’s total loss on PEPE is estimated at $3.47 million, reflecting a 15% decline

These transactions suggest strategic manoeuvres rather than panic selling. The SHIB whale’s actions indicate a calculated exit to capitalise on recent price stability, while the PEPE whale’s movements hint at a reassessment of their investment strategy or a need to liquidate.