{"id":336383,"date":"2023-08-18T08:00:25","date_gmt":"2023-08-18T02:30:25","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=336383"},"modified":"2023-08-17T18:48:37","modified_gmt":"2023-08-17T13:18:37","slug":"is-pepe-the-meme-to-watch-despite-the-shibarium-launch","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/is-pepe-the-meme-to-watch-despite-the-shibarium-launch\/","title":{"rendered":"Is PEPE the meme to watch despite the Shibarium launch"},"content":{"rendered":"<ul>\n<li><em>Millions of SHIB and BONE were exchanged for PEPE.<\/em><\/li>\n<li><em>PEPE&#8217;s circulation decreased, the same with its active addresses.<\/em><\/li>\n<\/ul>\n<p><a href=\"http:\/\/ambcrypto.com\/shiba-inu-resumes-price-uptrend-as-shibarium-launch-becomes-imminent\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Shibarium&#8217;s<\/span><\/a><span style=\"font-weight: 400;\"> mainnet launch may have garnered significant attention, but the eyes of large investors were on the <\/span><span style=\"font-weight: 400;\">Shiba Inu [SHIB<\/span><span style=\"font-weight: 400;\">] token. The actions taken by this cohort suggest that they value <\/span><span style=\"font-weight: 400;\">Pepe [PEPE]<\/span><span style=\"font-weight: 400;\"> much more than SHIB.<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">How much are <\/span><span style=\"font-weight: 400;\">1,10,100 PEPEs worth today<\/span><span style=\"font-weight: 400;\">?<\/span><\/p>\n<hr \/>\n<h4><b>Leaving SHIB\u2019s bones for PEPE\u2019s flesh<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">According to Lookonchain, a whale who held both SHIB and sister-token <\/span><span style=\"font-weight: 400;\">BoneShibaSwap [BONE]<\/span><span style=\"font-weight: 400;\"> sold all of them for PEPE. After which the whale deposited 143 billion SHIB into Binance, indicating a possible motive to sell.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Lookonchain also mentioned that the whale has been selling SHIB for three days. So, this sort of action suggests a possible \u201cbuy the rumor, sell the news\u201d at the expense of SHIB, but in PEPE\u2019s favor.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As per the price action, CoinMarketCap showed that BONE and SHIB have had an unencouraging start to Shibarium\u2019s existence. Both tokens lost 20.08% and 9.20% respectively in the last 24 hours.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">PEPE, on the other hand, registered a 5.34% decline. But what was happening with the frog-themed token on-chain?\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">According to Santiment, PEPE\u2019s social volume in the last 30 days has been up and down. This means that, on some days, the arbitrary search for the token was high. On other days, it wasn\u2019t much of a big deal.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">But in between that seesaw <\/span><a href=\"http:\/\/ambcrypto.com\/pepe-why-you-need-to-watch-out-for-the-memecoins-next-moves\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">movement<\/span><\/a><span style=\"font-weight: 400;\">, the number of holders increased. As of 17 July, the total number of PEPE holders was 132,000.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, at press time, it was 137,000, <\/span><a href=\"https:\/\/app.santiment.net\/charts\/LkysKIRJ__sCl\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">implying<\/span><\/a><span style=\"font-weight: 400;\"> that around 5,000 participants have bought into the PEPE narrative. If the hike continues, then the demand for the token may impact the price positively.<\/span><\/p>\n<figure id=\"attachment_336385\" aria-describedby=\"caption-attachment-336385\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Pepe-PEPE-13.04.28-17-Aug-2023.png\"><img decoding=\"async\" class=\"size-full wp-image-336385\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Pepe-PEPE-13.04.28-17-Aug-2023.png\" alt=\"Total number of PEPE holders and its social volume\" width=\"2560\" height=\"867\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Pepe-PEPE-13.04.28-17-Aug-2023.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Pepe-PEPE-13.04.28-17-Aug-2023-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Pepe-PEPE-13.04.28-17-Aug-2023-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Pepe-PEPE-13.04.28-17-Aug-2023-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Pepe-PEPE-13.04.28-17-Aug-2023-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Pepe-PEPE-13.04.28-17-Aug-2023-2048x693.png 2048w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-336385\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n<h4><b>Fewer interactions for PEPE still<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">Regarding active addresses, on-chain data showed that the metric decreased in the last 30 days. At the time of the writing, the 30-day active addresses were down to 40,1000\u2014 a notable decline from 58,000 on 21 July.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Active addresses indicate the daily level of <\/span><a href=\"http:\/\/ambcrypto.com\/shib-pepe-and-a-famous-people-meme-have-the-market-at-their-beck-and-call\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">speculation<\/span><\/a><span style=\"font-weight: 400;\"> around a token. When the metric increases, it suggests that the asset has a good level of crowd interaction.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">And when it decreases, it implies a fall in the number of unique addresses participating in transactions. So, PEPE\u2019s active addresses <\/span><a href=\"https:\/\/app.santiment.net\/charts\/OgHCJwwX__sCl\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">reveal<\/span><\/a><span style=\"font-weight: 400;\"> how market participants have mildly overlooked getting involved in sending and receiving the token.<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">Read <\/span><a href=\"http:\/\/ambcrypto.com\/predictions\/pepe-price-prediction\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Pepe\u2019s [PEPE] Price Prediction<\/span><\/a><span style=\"font-weight: 400;\"> 2023-2024<\/span><\/p>\n<hr \/>\n<p><span style=\"font-weight: 400;\">Consequently, the drop in active addresses affected the circulation which also decreased to 80.25 trillion.<\/span><\/p>\n<figure id=\"attachment_336386\" aria-describedby=\"caption-attachment-336386\" style=\"width: 3840px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Pepe-PEPE-13.32.29-17-Aug-2023.png\"><img decoding=\"async\" class=\"size-full wp-image-336386\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Pepe-PEPE-13.32.29-17-Aug-2023.png\" alt=\"PEPE circulation and active addresses\" width=\"3840\" height=\"1300\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Pepe-PEPE-13.32.29-17-Aug-2023.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Pepe-PEPE-13.32.29-17-Aug-2023-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Pepe-PEPE-13.32.29-17-Aug-2023-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Pepe-PEPE-13.32.29-17-Aug-2023-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Pepe-PEPE-13.32.29-17-Aug-2023-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Pepe-PEPE-13.32.29-17-Aug-2023-2048x693.png 2048w\" sizes=\"(max-width: 3840px) 100vw, 3840px\" \/><\/a><figcaption id=\"caption-attachment-336386\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Meanwhile, PEPE and SHIB\u2019s market cap were still far apart. As of this writing, PEPE\u2019s market cap was $464.54 million while SHIB was $5.24 billion.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Several actions by whales suggest a possible \u201cbuy the rumor, sell the news\u201d at the expense of SHIB, but in PEPE\u2019s favor.<\/p>\n","protected":false},"author":72,"featured_media":336384,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,5824,66,3,4,20],"tags":[],"class_list":["post-336383","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-memecoins","category-new-news","category-news","category-social","category-trading-view"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Is PEPE the meme to watch despite the Shibarium launch - AMBCrypto<\/title>\n<meta name=\"description\" content=\"Instead, the actions taken by this cohort suggest that they value Pepe [PEPE] much more than SHIB. 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