Whales Turn Bearish on Meme Coins as BlockDAG Rises on Presale Momentum

Shiba Inu (SHIB) and Pudgy Penguins (PENGU) have experienced significant price movements in recent weeks, reflecting broader trends in the meme coin and altcoin markets. However, these tokens are now under pressure from bearish sentiment and whale activity, contrasting with the bullish momentum seen in other high-profile projects such as BlockDAG, which has captured investor attention with its presale success and whale accumulation.

SHIB’s price has declined over 21% in the past two weeks, according to market data from CoinMarketCap. Despite this, the token’s ecosystem has shown resilience, particularly through its Shibarium Layer-2 blockchain, which recently hit 1 billion transactions. SHIB has also demonstrated strong retention rates, with a large portion of its supply remaining in long-term wallets. However, recent on-chain activity indicates a bearish pattern, as whale holders continue to trim their positions. This has led to concerns among retail investors who are watching for signs of a potential rebound or further consolidation.

PENGU, on the other hand, has had a more dynamic week, with the token surging 124% in seven days to hit $0.033, according to reports. This rally was largely driven by news of a partnership with Suplay, a major Chinese collectible company, and the filing of a spot ETF by Canary Capital. The proposed ETF would hold 80-95% PENGU tokens and 5-15% NFTs, potentially expanding institutional exposure to the meme coin and its associated ecosystem. However, despite its impressive gains, PENGU now faces bearish indicators, including a recent pullback and increased whale activity that has not translated into sustained price action. The token’s market capitalization currently stands at over $2.1 billion.

In contrast to the bearish trends of SHIB and PENGU, BlockDAG has emerged as a standout presale project in the crypto space. With a flat presale rate of $0.0013, BlockDAG has raised nearly $400 million as of early September 2025. The project has attracted nearly 3 million users mining via the X1 mobile app and thousands of X10 mining devices shipped globally. Whale accumulation has also played a key role, with top holders investing over $4 million in the token. This combination of grassroots adoption and institutional-grade participation has fueled a sense of urgency among smaller buyers, particularly as the presale approaches its October 1 deadline.

BlockDAG’s presale success is further supported by its decentralized infrastructure and growing ecosystem. Unlike many meme-based or speculative projects, BlockDAG has delivered tangible results, including real-world adoption and a transparent development roadmap. The token’s price of $0.0013 reflects both market demand and the project’s increasing credibility, positioning it as a potential leader in the crypto market for 2025. Analysts have highlighted its unique ability to combine utility with community-driven growth, a combination that sets it apart from other high-profile presales such as Remittix (REMITTIX) and Bitcoin Hyper (HYPER), which have yet to achieve similar levels of adoption or fundraising.

Meanwhile, the broader crypto market has seen significant volatility, with Bitcoin hitting all-time highs and triggering a shift in capital toward riskier assets. This has benefited the meme coin sector, which has seen a resurgence in social media activity and trading volume. However, the recent bearish pressure on SHIB and PENGU suggests that retail and institutional investors are recalibrating their strategies in light of shifting market conditions. While these tokens remain popular, their performance is increasingly dependent on macroeconomic factors and institutional sentiment, which can be unpredictable in the short term.

As the market continues to evolve, the contrast between bearish meme coins and bullish presales like BlockDAG is likely to widen. Investors are now weighing the risks and rewards of different investment strategies, with some favoring speculative plays and others prioritizing projects with clear utility and long-term potential. The coming weeks will be critical in determining whether SHIB and PENGU can regain their momentum or whether the next wave of innovation will be led by projects like BlockDAG, which are demonstrating both growth and execution.