In a stunning move that has sent shockwaves through the cryptocurrency world, two major whales have deposited a combined $25.95 million worth of Shiba Inu (SHIB) and Pepe Coin (PEPE) onto Binance, the world's largest exchange.

The first whale, known as "0x42a," made headlines by transferring an astonishing 1.088 trillion SHIB, valued at $18.12 million. Analysis of the whale's activity reveals an accumulation period during November and December 2023, coinciding with the market bottom. The whale is estimated to have profited by $8 million, marking a substantial gain of 79%.

In another eye-catching transaction, whale "0x837" deposited 700 billion PEPE to Binance, equivalent to $7.83 million. Currently, this whale holds another 800 billion PEPE, valued at $9.22 million. However, this entity faces an estimated total loss of $3.47 million, representing a 15% decline.

These massive transfers come at a time when the crypto market has been experiencing a prolonged sell-off, with the mood of market participants reaching a state of fear. However, the relentless sell-off seems to have reached an end, and a long-awaited rebound has followed.

While such deposits to the world's largest crypto exchange can hardly be considered a bullish signal, the next few days will be critical in determining the direction of the crypto market and whether the worst of the sell-off is indeed over. The crypto community remains on edge, waiting to see how these developments will impact the market in the coming days.