Shiba Inu vs. Pepe (PEPE): David Gokhshtein surprised at mysterious shift $SHIB SHIB $PEPE PEPE
, 3,350 wallets hold both SHIB and PEPE. Nansen reports on a specific large holder,"Wintermute 0x2800," who first received 1.2 billion SHIB on Feb. 23 with a balance of 15.2 billion. The same whale also first received 46.5 billion PEPE on April 20 and has a balance of 81.6 billion.PEPE was not intended by its creators to be a serious offering and, therefore, it has no specific use case.
It seems the shift by traders to PEPE might be borne out of negative emotions, most likely FOMO . Gokhshtein pointed this out as he responded to a Twitter user who observed several meme coins bleeding to PEPE, saying,"Too many emotional people."On April 18, 2023, the PEPE coin debuted with a price of $0.000000064982. At its current price of $0.00000120, PEPE has rallied thousands of percent since its inception.
On one hand, PEPE's official website claims that it should not be considered an investment opportunity and that it was merely designed as a meme coin with humor in mind.
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