Shiba Inu Whales Unload Billions Amid SHIB Price Slump

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The cryptocurrency market has been highly volatile in recent weeks, with Shiba Inu making headlines as a popular meme-inspired cryptocurrency.Over the last 24 hours, the price of the popular meme coin witnessed a slight uptick of approximately 5%, which drew the attention of investors and traders.However, as of the time of writing, the cryptocurrency has…

The cryptocurrency market has been highly volatile in recent weeks, with Shiba Inu making headlines as a popular meme-inspired cryptocurrency.Over the last 24 hours, the price of the popular meme coin witnessed a slight uptick of approximately 5%, which drew the attention of investors and traders.However, as of the time of writing, the cryptocurrency has seen a decline of 2.32% in, resulting in mixed sentiments among its holders.The minor surge in the price of Shiba Inu was enough to stimulate selling activities among crypto whales – large investors with significant holdings of digital assets.Such market players are known to have a significant impact on the cryptocurrency market, and their behavior is often closely monitored by other investors.Source: Etherscan As per the information shared by Etherscan, a few prominent wallets have transferred almost 6 billion SHIB to two leading cryptocurrency exchanges through multiple transactions.

Whale Transactions On Major Crypto Exchanges A considerable amount of Shiba Inu (SHIB) was recently transferred to two of the largest cryptocurrency exchanges, Uniswap and Binance.The transfers were made in multiple transactions, with the largest of them carrying 2,208,284,207 and 1,472,189,471 SHIB, respectively.The goal of these transfers was likely to sell SHIB, triggered by earlier price surge.The total value of these transfers is significant, as the recent overnight price surge has increased the value of 6 billion SHIB to $64,440.How will these significant transactions impact the overall market trends of SHIB, and what does it indicate about the sentiments of these influential investors? Meanwhile, one whale took an opposite approach and added several billion SHIB to their meme coin portfolio.This particular whale made four purchases of slightly under 4,000,000,000 SHIB each over the past two hours and now holds a whopping 15,996,999,997 SHIB.

It remains to be seen how these whale transactions will impact the market trends of SHIB in the coming days.Outlook On Shiba Inu The recent significant transactions involving SHIB on major cryptocurrency exchanges, including Uniswap and Binance, have the potential to impact the overall market trends of the meme-inspired cryptocurrency.The transfer of nearly 6 billion SHIB to these exchanges in multiple transactions, followed by the purchase of several billion tokens by a whale investor, indicates that there is ongoing interest in SHIB among influential investors.SHIB market cap at $5.9 billion on the daily chart at TradingView.com These transactions also suggest that the whale investors are closely monitoring the market trends and are likely making calculated moves based on their expectations.The goal of the transfers to Uniswap and Binance was likely to sell SHIB, given the recent price surge.However, the purchase of several billion tokens by a whale investor signals a bullish sentiment toward SHIB.

Nevertheless, it is crucial to keep an eye on the activities of these influential investors to gauge the overall sentiment and direction of SHIB in the market.(This article is for educational and informational purposes only and should not be construed as investment advice) -Featured image from NPR Leave a Reply [Cancel reply](/shiba-inu/shiba-inu-whales-unload-billions-amid-shib-price-retreat/#respond) Leave a Reply Cryptocurrency Market News 37 Billion Dogecoin Holdings In Jeopardy: Price Level Investors Should Watch Is the future of Dogecoin in jeopardy? If the price of DOGE hovers around the $0.745 per token level, more than 30 billion tokens will be on the verge of losing their positions.Startling new data from crypto intelligence portal IntoTheBlock reveals that more than 100,000 Dogecoin addresses are now in a precarious situation.Will DOGE holders weather the storm or face a potential market crash? Dogecoin Price Fluctuation: Meme Coin’s Market Movement Dogecoin’s current value on CoinMarketCap is $0.08028, reflecting a 24-hour increase of 1.98%.However, in the past week, the popular cryptocurrency has experienced a substantial decrease of 14%.Investors and traders are keeping a close eye on the market to determine whether this trend will persist or if Dogecoin will see a reversal in fortune.

In a report, citing data by IntoTheBlock, some 37.2 billion DOGE were purchased in the $0.745 to $0.786 range, representing the largest of the pack near the current Dogecoin price.The data suggests that this number represents nearly 50% of all Dogecoin purchases currently in profit, with a value of $74.38 billion DOGE.As a result of the decline that began last Wednesday, approximately 40 billion Dogecoin has lost value compared to its initial purchase price.This volume is dispersed across over 594,000 addresses.

Exploring The Technicalities Of DOGE Profitability The profitability of a cryptocurrency depends on the price at which an investor buys and sells the asset.When the buying price is lower than the selling price, the investor earns a profit.However, if the selling price is lower than the buying price, the investor incurs a loss.In the case of Dogecoin, if its price drops to a certain level, approximately 34 billion DOGE will become unprofitable, meaning that investors who purchased at higher prices will experience a loss.

The price level at which this will occur is not set in stone and may vary based on various factors such as market sentiment, supply and demand dynamics, and other macroeconomic factors.DOGE total market cap currently at $11.1 billion on the daily chart at TradingView.com The unprofitable DOGE can lead to an increase in sell-offs, and as a result, the price could spiral downwards.This can have a domino effect on the market, causing other cryptocurrencies to also experience a decline in value.Therefore, it is crucial for investors to monitor the market closely and make informed decisions based on the current market situation.As a result, investors need to be vigilant and take the necessary precautions to mitigate potential losses.(The information provided here is for educational and informational purposes only.It is not intended as financial or investment advice) -Featured image from Barcroft Media/Getty Christian Encila Christian is a former journalist and editor, as well as a layout design consultant, who previously held leadership positions at Sun.Star News Philippines and Ang Peryodiko News, a local daily in Manitoba, Canada.Alongside his passion for writing, he is an avid fan of cryptocurrency and works tirelessly throughout the week.

When he’s not on his computer, you can find him tinkering with his old motorbike as a grease monkey, or lounging on the patio hammock while pondering about artificial intelligence and whether he’ll ever understand his cat’s thoughts and calmness.AVAX, the native token of Avalanche blockchain, has been making headlines lately as the Avalanche NFT transfers soared to record figures in the month of April alone.As the blockchain world continues to expand, the surge in NFT transfers on the Avalanche network raises a burning question – Will this help AVAX price go up? Let’s explore the possibilities.AVAX NFT Collections, dApps Gain Traction On Avalanche Network The AVAX token is set to benefit from the latest surge in NFT transfers on the Avalanche network, which has seen over 2 million NFT transfers in April alone, five times greater than March.

This trend can be attributed to the blockchain’s fast and low-cost transactions and scalable platform, which has made it a preferred choice for NFT creators and collectors.$AVAX NFTs are smashing records! In April alone, the @avax network recorded over 2 million transfers — 5 times more than the previous month of March! pic.twitter.com/3z59MkGUc3 — Emperor Osmo🧪 (@Flowslikeosmo) April 23, 2023 The surge in Avalanche NFTs can also be traced to the popularity of blue-chip AVAX NFT collections such as Chikn and Doggerinos, which have experienced significant volume spikes in recent months, according to AVAX NFT Stats.The growing interest in the Avalanche network has also translated into a rise in activity on dApps such as Trader Joe, a leading DEX on the network.As a result, the Avalanche network has seen a substantial increase in transaction volume and quantity, suggesting that AVAX is poised to gain further traction in the blockchain and crypto space.

In the past month, Trader Joe has seen a 184% surge in the number of unique active wallets on its platform, reflecting the increasing demand for decentralized trading on the network.

The future appears promising for the AVAX token, as more users explore the platform’s potential for NFTs and dApps.

So-So Performance By AVAX The AVAX token’s performance has been somewhat lackluster in recent days.Over the past week, the price of AVAX has experienced a substantial decline of 20.65% according to CoinMarketCap.Despite this, it has managed to gain 1.17% over the past 24 hours and is currently trading at $16.97.Source: CoinMarketCap The mixed results on the Avalanche network suggest that while there is growing interest in NFTs and dApps, there are still challenges to overcome.The decline in active addresses may be a reflection of users exploring other platforms or simply taking a break from trading on the network.Related Reading: Floki Inu Joins Binance.US And Surges By 50% As Investors Pile In AVAX Network Sees Mixed Results Despite NFT And dApp Activity Meanwhile, the Avalanche network has witnessed a surge in NFT transfers and increased activity on its dApps, the overall number of daily active addresses on the network has declined in recent weeks.

According to data provided by Artemis, and reported by AMBCrypto, the number of active addresses on AVAX fell from 79,740 to 75,000 in the last 30 days, resulting in a decrease in the number of transactions being made on the network.Source: Artemis AVAX total market cap currently at $5.5 billion on the daily chart at TradingView.com -Featured image from BuyNFT.com Cryptocurrency Market News Pepe Coin’s Mega Rise Pinned To This Smart Contract Fix Pepe Coin (PEPE) is soaring and has become one of the most popular meme coins behind Dogecoin and Shiba Inu.However, this wouldn’t have been the case if the Pepe Coin smart contract deployer had not chosen to do what was good for the project and, by extension, the community.The team renounced the deployer contract, sending it to a null address.

Doing this meant no one could tamper with the smart contract and effect changes that could destroy the meme coin’s credibility.Intervening For Credibility According to curious online sleuths, the deployer of Pepe Coin smart contracts had “god-like” powers before changes were made.For example, the team could limit the number of token transactions, modify the maximum token trading amount, the maximum position a trader can initiate, or even suspend trading of a given address.Moreover, the smart contract included a black listing function.

Subsequently, this effectively empowered the team to bar certain addresses from holding and trading the token.

With this, observers noted that Pepe Coin, though popular, wasn’t decentralized as many thought and project owners could, at any time, rug pull investors.A rug pull is a common scam in decentralized finance (DeFi) where a team builds a project, in this case, Pepe Coin, convinces users to supply liquidity and buy the token.Afterward, the team leaves the project and sells their portion forcing prices lower and leaving investors holding mud.The possibility of the team pulling out a rug pull was plugged when the deploying smart contract was sent to a null address on April 14.The Rise Of Pepe Coin Pepe Coin is a meme coin that has no utility.Instead, the team behind the project aimed to ride on “Pepe the Frog,” created in 2005 by Matt Furie.The meme coin project has no connection to Furie.

Pepe Coin was launched in mid-March and with little fanfare.There was no presale, and the total supply was 420.69 trillion.Days after launching, Pepe Coin exploded to be one of the most popular meme coins.

The token has surged to command a market cap of over $105 million.It has a slot in the top 300 projects by market capitalization, according to the coin tracker, CoinGecko.At the same time, 93.1% of all PEPE in circulation were sent to a liquidity pool in Uniswap, and liquidity provider (LP) tokens were burnt.The remainder is reserved for centralized exchange listing and other initiatives.Uniswap is one of the world’s largest decentralized exchanges facilitating the trading of tokens like PEPE, including non-fungible tokens (NFTs) on Ethereum and layer-2 protocols like Arbitrum.

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