Popular Meme Coins Shiba Inu and Pepe Top: Here Are The Reasons That Trigger The Rise!

Pepe (PEPE) and Shiba Inu (SHIB), two popular meme coins of the crypto money market, managed to attract the attention of investors with their rise in a short time.
With Bitcoin reaching the level of 30 thousand dollars on August 8, the two popular meme coins SHIB and PEPE managed to be the most increasing coins of the day by showing a remarkable bullish performance. Leading the rise, Pepe gained 13.5% in 24 hours with the effect of whale purchases.
Data provided by the on-chain analytics platform Lookonchain has revealed whale activity. According to the data, a whale bought 807 billion PEPE at $0.000001239 for one million USD Coins (USDC) just hours after the PEPE price spiked. It is thought that heavy purchases triggered the rise in PEPE.
An analyst named Ali, who shared his predictions on the subject, stated that the first target for PEPE was $ 0.00000138, and argued that if a close above this level is experienced, the rise will continue:
PEPE looks bullish. The TD Sequential posted a buy signal with an initial target of $0.00000138 on the daily chart. A sustained close above this level could push PEPE to $0.00000159. Note the override at $0.00000113.
PEPE, which reached $0.00000129 from the $0.00000117 band with a 13.5% increase according to the data, finds buyers at $0.00000125 at the time of writing.
Expecting Shibarium in Shiba Inu
Shortly before the launch of the layer-2 (L2) platform Shibarium, prepared by the Shiba Inu developer team, the SHIB price also started to rise. According to the latest statement by the team, the Shibarium mainnet launch will take place at the Blockchain Futurist conference scheduled for next weekend. It is estimated that the large increase in price is due to this reason.
With the launch approaching, SHIB, which has risen by 17.3% in the last 1 week, has increased by 6.30% in the last 24 hours, from $ 0.00000946 to $ 0.00001001, according to CoinGecko data. SHIB is trading at $0.00000973 at the time of writing.
However, in the past 24 hours, SHIB's trading volume has increased by 52.37%, exceeding $383 million, and has hosted major whale activity.
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