PEPE, which was released in April 2022 and quickly gained a massive investor base, has reminded its old days in the last two weeks and has increased by more than 200% in the last two weeks, making its investors smile. A whale, who wants to take advantage of the current meme coin craze, passed the profits from PEPE to Shiba Inu.

He made gradual purchases of PEPE

According to on-chain tracking firm Lookonchain, a whale has been collecting PEPE at low prices since June 2023. The whale, which has not bought since December, took advantage of the recent rises and managed to “cash out”. The whale sold for around $0.0000031 and made a profit of around $3.5 million.

Then, the whale bought Shiba

The whale address, which carried 1.97 trillion PEPEs worth $6 million to the Binance exchange, then withdrew 75.9 billion SHIBs from there. The value of the SHIBs withdrawn was $900 thousand. It is also noteworthy that the withdrawals were made just before the 20% rise in Shiba Inu today.

The whale probably wants to capitalize on the current meme coin craze and grow its wallet as fast as possible in the short term.

Meme tokens continues to rise

Shiba Inu, the 2nd largest meme coin, has a market capitalization of around $8 billion. In 2021, SHIB, which made a big rally and has investors from all over the world, is known for its burn mechanism and decreasing supply.

Shiba Inu has risen more than 40% in the last week. Dogecoin, another meme coin, has increased by 50% in the last 7 days.

Apart from these two coins, Solana-based BONK and WIF have also seen significant increases…