SHIB and PEPE record triple-digit increase in large transactions

SHIB and PEPE record triple-digit increase in large transactions

There is a resurgence underway in the broader digital currency ecosystem, and meme coins like Shiba Inu (SHIB) and PEPE are riding the waves. At the time of writing, the meme coin ecosystem is trade up 4.47% in 24 hours to $58,026,790,606, and Shiba Inu and PEPE rise 2.34% and 14.07% to $0.00002246 and $0.00001367, respectively.

There is a resurgence underway in the broader digital currency ecosystem, and meme coins like Shiba Inu (SHIB) and PEPE are riding the waves. At the time of writing, the meme coin ecosystem is trade up 4.47% in 24 hours to $58,026,790,606, and Shiba Inu and PEPE rise 2.34% and 14.07% to $0.00002246 and $0.00001367, respectively.

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Most correlated bullish metric

In addition to uniformity in price growth, these meme coins have experienced triple digits in large transaction counts from whales in their respective ecosystems.

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By According to data from crypto analysis platform IntoTheBlock, SHIB has seen a 170.84% ​​increase in its large transactions in 24 hours, setting the traded volume at $467.2 million. This massive whale transaction occurred from 436 records totaling 21.62 billion Shiba Inu.

PEPE Recorded similar momentum, with large transactions rising 127.87% to a record $174.07 million. Like Shiba Inu, PEPE whales have made a total of 419 transactions above $100,000 in 24 hours. It is worth noting that while Shiba Inu recorded 21.62 billion SHIB trade, PEPE has managed 13.62 billion tokens in the same time period.

A similar trend in the bullish metrics of both meme coins underlines how positively they are correlated with each other. It now remains to be seen whether the whales’ impact can help sustain continued long-term growth.

where lies the difference

The correlation in the meme coin ecosystem is more beneficial for PEPE as it has almost no major internal fundamentals driving its bullish rise.

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This is where the token differs from Shiba Inu, which has Shibarium and is undergoing an intense burning campaign in its attempt to provide long-term value to its users.

Despite these differences, both Shiba Inu and PEPE compete for dominance, establishing an almost lifelong rivalry for both tokens.

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