The crypto market is experiencing a revival, and meme coins are joining the party. Shiba Inu and PEPE are both up, with the overall meme coin market cap increasing by 4.47% in 24 hours. This bullish trend goes beyond just price - there's a surge in large whale transactions within both ecosystems.
Data shows a massive increase in large SHIB transactions, with whales trading a staggering 21.62 trillion tokens. PEPE followed suit, with whale activity pushing transaction volume to $174.07 million. This strong correlation between the two meme coins raises a question - can whale interest sustain this growth in the long run?
There's a key difference between these two meme coins. While Shiba Inu has Shibarium (a planned layer-2 solution) and burns tokens to increase value, PEPE lacks such internal fundamentals. Despite their contrasting approaches, both coins are vying for dominance, potentially setting the stage for a long-lasting meme coin rivalry.
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