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<\/p>\n
- \n
- Millions of SHIB and BONE were exchanged for PEPE.<\/em><\/li>\n
- PEPE\u2019s circulation decreased, the same with its active addresses.<\/em><\/li>\n<\/ul>\n
Shibarium\u2019s<\/span><\/a> mainnet launch may have garnered significant attention, but the eyes of large investors were on the <\/span>Shiba Inu [SHIB<\/span><\/a>] token. The actions taken by this cohort suggest that they value <\/span>Pepe [PEPE]<\/span><\/a> much more than SHIB.<\/span><\/p>\n
\nHow much are <\/span>1,10,100 PEPEs worth today<\/span><\/a>?<\/span><\/p>\n
\nLeaving SHIB\u2019s bones for PEPE\u2019s flesh<\/b><\/h4>\n
According to Lookonchain, a whale who held both SHIB and sister-token <\/span>BoneShibaSwap [BONE]<\/span><\/a> 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
\u00a0<\/p>\n
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
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
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
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
But in between that seesaw <\/span>movement<\/span><\/a>, the number of holders increased. As of 17 July, the total number of PEPE holders was 132,000.\u00a0<\/span><\/p>\n
However, at press time, it was 137,000, <\/span>implying<\/span><\/a> 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
![\"Total](\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/08\/Pepe-PEPE-13.04.28-17-Aug-2023.png\")
<\/a><\/p>\nSource: Santiment<\/p>\n<\/div>\n
Fewer interactions for PEPE still<\/b><\/h4>\n
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
Active addresses indicate the daily level of <\/span>speculation<\/span><\/a> around a token. When the metric increases, it suggests that the asset has a good level of crowd interaction.\u00a0<\/span><\/p>\n
And when it decreases, it implies a fall in the number of unique addresses participating in transactions. So, PEPE\u2019s active addresses <\/span>reveal<\/span><\/a> how market participants have mildly overlooked getting involved in sending and receiving the token.<\/span><\/p>\n
\n - PEPE\u2019s circulation decreased, the same with its active addresses.<\/em><\/li>\n<\/ul>\n
![\"PEPE](\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/08\/Pepe-PEPE-13.32.29-17-Aug-2023.png\")