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What Happened: The memecoin market has recently witnessed significant interest from whale investor activity. Shiba Inu witnessed whale activity movement while Pepe (CRYPTO: PEPE) (+78% in the past 7 days) and Floki (CRYPTO: FLOKI) (+86% in the past 7 days) have seen an uptick in their prices.

IntoTheBlock data reported by Binance suggested a significant increase in whale transactions this week as it touched $274 million. In the past three months, Shiba Inu whales reported $300 million worth of Shiba Inu tokens indicating a bullish sentiment on the memecoin. However, only 17% of Shia Inu holders are profitable, 79% (1 million addresses) are in loss and 4% are at a break-even point.

Meanwhile, Shibarium peaked at 3.5 million transactions in just two months since its inception, led by a 493% jump in transactions to 62,570 in the past 24 hours. This marks the highest gain since September. Another token in the Shibarium space, Bone (CRYPTO: BONE) also surged to a 15% price hike this week with the week closing at 5% gains.

Why It Matters: An early Bitcoin adopter who once predicted significant gains for the token, Davinci Jeremie indicated in early 2023 investors should still focus on Shiba Inu. His tweet had come on the heels of a user who asked for an altcoin worth buying.

Benzinga’s Future of Digital Assets conference is scheduled in New York on Nov.14. Attend and learn more about meme coins and the recent investor attention that it is gaining. The gathering is seen as pivotal for the digital assets community. The event will spotlight the latest trends, innovations, and challenges in the digital asset realm.