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A Brand New Shiba Inu Whale Makes A Splashy Move: Details

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Shiba Inu continues to grab investors’ attention after a newly created address rose to the position of the 27th largest SHIB holder upon purchasing a whopping 4.1 trillion tokens worth over $32 million. According to Etherscan.io data, the massive accumulation took place in three separate transactions.

The anonymous user initially purchased 4,113,776,233,445 SHIB tokens, and a few hours later bought 1,500,000 [1.50 million] SHIB tokens for just $11. Then they added an extra 37,966,105,116 [37.96 billion] SHIB tokens, valued at $294,236 in the third and final transaction.

When it comes to the most traded coins among the top 1,000 ETH whales, Shiba Inu has been a consistent favorite among this investor cohort, TronWeekly reported. This shows that “whales,” or wealthy investors, still have faith in the meme token despite the stagnant price movement of the meme token.

Moreover, the top 100 ETH whales own 49,621,465,093,500 [49.62 trillion] SHIB, which is worth $601.20 million, according to whale tracking portal Whalestats. This highlights the large presence of SHIB in their portfolios, as it represents approximately 11% of their total holdings.

The meme token recently added another feather to its cap by making significant strides in market capitalization. From June 13 to date, the market cap has added another $500 million to its tally, reaching $4.5 billion at press time.

Shiba Inu’s Puppynet Crosses A New Milestone

It has been suggested that the price of SHIB may be affected by the enormous growth in market capitalization. Market watchers think that this would inspire a sense of optimism among investors, which might then raise demand and drive up the price of the coin.

At the time of writing this post, SHIB has changed hands at $0.00000774, with a marginal decline in the past 24 hours. The 19th-ranked meme coin by market cap is over 2% in the weekly index.

Meanwhile, the Shiba Inu ecosystem is entering a new era when layer-2 Shibarium’s testnet, Puppynet,” reached the critical threshold of 30 million total transactions. There are now over 17,062,128 wallet addresses in existence. Shibarium beta Puppynet is currently processing 1,727,785 blocks, which is a rise from the previous figure of 1,627,000.

Shiba Inu Token Shuffle: Whales on the Move as Volatility Remains Muted

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Shiba Inu (SHIB) is once again generating attention as the popular meme coin prepares for the upcoming launch of Shibarium, an eagerly anticipated update scheduled for next month. At the same time, blockchain intelligence platform Arkham has reported notable activity within the SHIB ecosystem. According to Arkham’s findings, a recent transfer of 5.2 trillion Shiba Inu tokens occurred.

A significant quantity of SHIB tokens was moved from a large address to multiple anonymous wallets. Each transaction involved funds valued at $3 million. Interestingly, the whale responsible for these transfers does not appear to be connected to an exchange address. Previous transactions indicated that the wallet in question received funds from diverse sources, including bulk sender services, Coinbase wallets, and even OpenSea.

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Shiba Inu Token Shuffle: Whales on the Move as Volatility Remains Muted 3

The noteworthy transfer of SHIB tokens has captured attention, particularly because it took place during a period of relative market stability. The movement of such significant amounts of SHIB tokens to multiple addresses has sparked speculation about potential strategic motives. While the exact reason behind this transfer remains unknown, several theories have emerged.

One prevailing theory suggests that the whale’s objective was to mitigate risks by diversifying their SHIB holdings. By distributing the tokens across multiple wallets, the potential impact of threats like hacks or thefts on overall losses would be limited. Another conjecture revolves around the provision of liquidity. It is possible that the whale is preparing to offer liquidity to decentralized exchanges, as DeFi protocols often offer attractive yields and rewards to liquidity providers.

The potential for manipulation risks has not been overlooked. The magnitude of the transfer could indicate that the whale might be attempting to exert influence over the price of SHIB. At the time of writing, SHIB was being traded at $0.000007788, experiencing a daily drop of 3.42%.

Shiba Inu Emerges as Top Choice Among Crypto Whales

Despite the emergence of numerous meme coins, Shiba Inu maintains its status as a preferred choice among crypto whales. Presently, it holds the distinction of being the most frequently traded token among Ethereum (ETH) whales. Furthermore, it boasts the largest token position in terms of dollar value. According to WhaleStats, SHIB currently ranks as the fourth most significant asset among the top 100 whales.

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Shiba Inu Token Shuffle: Whales on the Move as Volatility Remains Muted 4

Shiba Inu Is Still The Top Dog Among Biggest ETH Whales

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Shiba Inu has maintained its position as investors’ favorite in the form of the most traded coins among the top 1,000 ETH whales. This indicates that despite a sluggish price action for cryptocurrencies, “whales,” or investors with deep pockets, still believe in the meme token.

The meme token recently added another feather to its cap by making significant strides in market capitalization. From June 13 to date, the market cap added another $500 million to its tally to be at $4.65 billion at press time.

Such a monumental increase in market capitalization has sparked speculation about the possible impact on SHIB’s price. Market observers believe that this could instill a sense of optimism among investors, potentially leading to an increase in demand and a rise in price for the token.

Additionally, approximately 2,500 addresses were established each day in the past few weeks for the well-known meme coin. Before the latest spike, there were two other notable spikes spotted. One occurred in the middle of June, while the other occurred near the month’s end. At the same time, the price of SHIB increased. Initially, by around 50%, then by about 12%

Being one of the most sought-after cryptos in 2021, the token has promise despite its subpar market performance, as a recent insight from Santiment stated.

Shiba Inu Website’s Brand New Look

SHIB has also made headlines due to its numerous announcements in the meme token’s ecosystem, such as the upcoming mainnet launch of L-2 Shibarium, Shiba Eternity, or the recently launched collaborative studio shibacals. One of the much-hyped projects, Shibarium, has also now seen over a million transactions over Puppynet, the testnet of the L2.

In related news, the Shiba Inu team rebranded the official SHIB token website as well as various other websites connected to the Shiba Inu project in advance of the imminent launch of Shibarium’s mainnet. It also pledged a commitment to promote SHIB and its associated activities on a global scale, which has led to noteworthy developments in a number of areas.

“As we continue with the Summer of Shibarium, we take great pride in introducing fresh branding for other ShibArmy websites,” project lead Shytoshi Kusama said, urging the community to check out the platforms’ revamped looks.

PEPE Soars High, Investors’ Fortunes Amplify

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In the past few months, Pepe Coin (PEPE) has emerged as a strong contender in the market for meme-based cryptocurrencies. Since its debut in April, this digital asset has quickly gained widespread attention, becoming a viral sensation. Within just a month of its introduction, Pepe Coin’s market capitalization has soared into the billions, solidifying its position as a notable disrupter in the industry.

According to CoinGecko, PEPE currently ranks 72nd in terms of total crypto market capitalization. At present, it is trading at a price of $0.00000151, having experienced a 12% increase in value over the last 24 hours. However, the volatile nature of this asset has made investing in Pepe a somewhat unpredictable venture. Nonetheless, recent activity suggests a potential shift in sentiment.

The surge in investment activity surrounding the frog token indicates that investors have developed confidence in the long-term potential of meme coins. They perceive the coin’s previous success as more than mere chance or luck. While the token has been characterized by its inherent volatility, these recent developments point to a possible change in market sentiment. It will be crucial to closely monitor how this narrative unfolds.

The increased volatility of frog-based meme coin reflects the broader landscape of meme-based cryptocurrencies. As such, these recent developments may signify a shift in sentiment within the overall market. The progression of this story will undoubtedly be of great significance to observe and analyze.

Market Buzz Intensifies as Pepe’s Whales Act

According to recent data, the value of the frog-based token has experienced an upward trend, prompting a whale identified as “0xa54d” to deposit a significant amount of 3.94 trillion $PEPE (equivalent to $7 million) into Binance. This move allowed the whale to secure a profit of approximately $650,000.

Meanwhile, another whale known as “0x37df” has chosen a different strategy by continuing to accumulate 285 billion $PEPE (worth around $504,000). Currently, this whale holds a substantial sum of 890.6 billion $PEPE (equivalent to $1.56 million), with an average cost of approximately $0.0000014.

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The influx of investment and the notable actions of these whales raise questions about the implications and potential outcomes of these activities. The market movements surrounding the frog token continue to capture attention, warranting close observation as further developments unfold.

XRP’s Price Surge: Whales Splurge, Bulls Emerge

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Crypto analyst Ali, citing Santiment data, reveals that whales have acquired a staggering 1.1 billion XRP, equivalent to around $570 million, since February. This comes after the previous report of whales purchasing 360 million XRP worth $170 million during a 12% price drop in late June. The accumulation of XRP by whales has historically coincided with price increases, similar to a significant rally observed in late 2020. Notably, the recent wave of whale stockpiling aligns with a surge in XRP’s price, which reached highs of $0.545 in March.

The positive momentum continued in Q2, 2023, with Messari reporting a 42.5% year-to-date increase in XRP’s circulating market cap, primarily driven by its price rise in the first quarter. Despite a drop in early May, XRP’s price nearly approached its yearly high set in late March during June.

Analyzing XRP’s daily charts reveals potential brewing developments for the sixth-largest cryptocurrency. A cup and handle formation appears to be emerging, indicating a period of consolidation followed by a breakout. This bullish continuation pattern is characterized by a cup-like price movement followed by a downward trend.

Furthermore, the XRP Ledger witnessed impressive network activity in the last quarter, with nearly 523,000 addresses receiving transactions on May 28, 2023 – nearly 11 times the daily average in Q2. This remarkable address activity marked the second-highest in its history. At the time of writing, XRP’s price had a slight increase, reaching $0.47 in the last 24 hours.

Several indicators suggest that the altcoin is on the brink of a potentially substantial surge. It continues to move within a descending price channel, known as a falling wedge pattern in technical analysis, which could indicate an upcoming bullish reversal. However, monitoring key price levels is crucial.

Falling Wedge Pattern Points to XRP Surge

Examining XRP’s chart reveals the characteristics of a falling wedge pattern, where lower highs and lower lows converge. This pattern suggests the presence of selling pressure, but buyers consistently step in at lower levels. A breakout above the upper trend line of the wedge could lead to a significant upward swing for XRP.

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Trading volume serves as a critical factor to consider. It has been decreasing alongside the falling price, indicating reduced selling pressure and potentially signaling a trend reversal. Lower volume during a downward trend is viewed positively as it suggests decreased interest in selling at current price levels.

The decreased selling interest could favor buyers and trigger an upward price movement. The Relative Strength Index (RSI), a momentum oscillator, has been moving sideways, reflecting a balanced market with relatively equal buying and selling pressures. Notably, a significant movement in either direction could provide an early indication of the future price trajectory.

While the current technical setup suggests a potential bullish breakout for the token from its falling wedge pattern, traders and investors must closely monitor price behavior. Key price marks to watch include the upper trend line of the wedge and any corresponding surge in volume supporting a breakout. It is crucial to exercise rigorous risk management and not solely rely on technical analysis when making investment decisions.

Bitcoin Whales Accumulate $3.5 Billion Despite Recent Price Volatility

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Bitcoin’s market has witnessed a notable trend among large holders, commonly known as Bitcoin whales, who have accumulated more over the past two months. Despite recent price volatility, these wallets, holding substantial amounts of BTC, have collectively acquired $3.5 billion worth of the cryptocurrency since early April.

Bitcoin Whales Buck The Price Trend With Significant Accumulation

According to Santiment, a market intelligence platform, wallets between 1,000 and 10,000 BTC have accumulated more BTC during the recent price decline. This accumulation phase has acquired a staggering $3.5 billion BTC since the first week of April.

BTC price action has experienced significant fluctuations since the beginning of the month. While the cryptocurrency has maintained an overall positive growth outlook this year, it remains essential in determining market bearishness.

The recent filing by BlackRock, an American multinational investment giant, for a spot BTC Exchange Traded Fund (ETF) application with the United States Securities and Exchange Commission (SEC) has contributed to a bullish sentiment for BTC.

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Source: Tradingview.com

Bitcoin is currently traded at $26,870, demonstrating a relatively steady consolidation above the $27,000 mark. Over the past 24 hours, the cryptocurrency has shown a narrow trading range, ranging from a low of $26,338.54 to a high of $27,147.47. Although BTC peaked at $30,404 on April 14, 2023, it also significantly declined to $20,187 on March 11.

Market Mood And Potential Energy

Glassnode’s “Week Onchain Newsletter” shows the prevailing market mood as “apathy” with the Bitcoin halving event less than a year away. However, it notes that “HODLers,” investors holding onto their Bitcoin with no intention to sell, continue their steady accumulation. This accumulation trend suggests the buildup of potential energy in the market, which could lead to significant movement once the $30,000 threshold is breached.

Adding to the anticipation, CryptoQuant warns of the possibility of extreme price fluctuations in Bitcoin due to high leverage on the futures market and the current outflow volume of BTC from the spot market.

Overall, the coin’s movements indicate that investors recognize its exemption from the SEC’s categorizing various cryptocurrencies as securities. Within the cryptocurrency community, there is a widespread belief that Bitcoin is a digital currency that does not meet the SEC’s criteria for being classified as a security.

Related Reading: | Weekly Market Watch: Bitcoin & Ethereum Struggles, Altcoins On The Path To Recovery

Litecoin Gains Momentum As Halving Approaches, On-Chain Volume And Whale Activity Surge

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As the highly anticipated Litecoin halving event draws nearer, Litecoin (LTC) continues to exhibit positive price action, driving increased on-chain transaction volumes and heightened whale activity. Santiment, an on-chain data provider, elaborated on this phenomenon.

The surge in LTC20 transactions on the Litecoin blockchain has significantly contributed to the overall activity on the network. With the halving event approaching, we expect whale activity to remain robust over the next two months.

Litecoin Network Thrives As LTC20 Transactions Surge And Address Count 

Following the Litecoin halving, miners’ block rewards for LTC will be reduced from 12.5 LTC to 6.25 LTC. However, despite this impending adjustment, LTC has showcased resilience and achieved notable growth throughout May 2023. 

According to data from IntoTheBlock, the total number of LTC addresses has surpassed 8.5 million. Litecoin (LTC) outpaces other prominent assets like Cardano, Dogecoin, and Polygon regarding address count, solidifying its status as a widely-used payment cryptocurrency.

Continued growth in Litecoin’s on-chain transaction volume strongly indicates major players’ inclination to enter the LTC investment realm ahead of the halving event. Santiment highlighted this positive sentiment.

Litecoin is also approaching a halving in August, which analysts deem a significant event for both the network and the price of LTC. Like the oft-noted bitcoin halving, the Litecoin halving will see its block reward (paid in LTC) slashed by half.

According to Charles Storry, Phuture’s head of growth at a crypto index platform, LTC lower unit price than Bitcoin attracts investors who want to position themselves strategically before the halving event.

“From investors I’m speaking with, they anticipate the halving to push the price of BTC, LTC and the market”

The recent surge in activity caused by the Ordinals protocol has resulted in congestion on the Bitcoin network, leading to high user costs. This situation may be advantageous for LTC, as it could benefit from the network congestion experienced by Bitcoin.

Furthermore, the Litecoin futures and derivatives market has experienced notable activity recently. According to data from Glassnode, Litecoin futures volumes have surged past an impressive $472 million, indicating a rising interest in LTC among traders and investors.

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Source: Tradingview.com

LTC has once again defied the broader consolidation in the crypto market, demonstrating a northward movement. In the past 24 hours alone, LTC’s price has surged by 5%, surpassing the $95 mark.

LTC defies the ongoing consolidation in the broader cryptocurrency market, demonstrating upward momentum. As the highly anticipated LTC halving event approaches, increased on-chain activity, heightened whale involvement, and the flourishing LTC futures market contribute to a positive outlook for the digital asset. Investors and market participants eagerly await the August 10th halving, expecting further price appreciation for LTC.

Related Reading: | Weekly Market Watch: Bitcoin & Ethereum Recovery, Altcoins Follow Suit

Shiba Inu Grabs Whales Attention As 40B SHIB Tokens Tossed In Exchanges

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Shiba Inu’s demand rise as nearly 40 billion SHIB tokens was shuffled by whales to and from top crypto exchange platforms, data from Etherscan showed.

The last hour saw a total of six significant transactions, most of which involved 6 or 6.4 billion SHIB that were moved by unidentified large-scale holders.

From the six, the two biggest moved 9 billion meme coins, and the smallest moved 1.5 billion Shiba Inus. 13 billion SHIB were purchased and taken out of the Crypto.com exchange among these billions. On KuCoin, 1.5 billion were both purchased and withdrawn to cold wallets.

Additionally, 6.5 billion SHIB were transferred to OKX, most likely to be sold, and a total of 6.1 billion Shiba Inu tokens were transmitted to a Binance wallet. According to the current SHIB/USD exchange rate, 36.5 billion SHIB is equal to $316,090.

The highly anticipated mainnet debut of Shibarium now has an expected timeline, much to the joy of SHIB enthusiasts. Following user complaints about the lack of one, content marketing professional Lucie Sasnikova tweeted a response between Q2 and Q3 2023.

Besides that, Sasnikova revealed that the Shiba Inu team has several groups working on the launch, including one that integrates AI.

“Our estimate is for 2023, and we are not pumping anything but focusing on sustainable growth. The testing process and security audits are crucial before the launch,” she added.

In addition, Puppynet, the testnet for Shibarium, has continued to expand rapidly since its launch on March 11.

Shiba Inu’s L2 Milestone And A New Listing

Puppyscan’s most recent statistics show that there are now 15.9 million active wallet addresses on the native testnet, up from just 3 million just a few weeks after launch.

In addition, Shibarium recorded over 10 million total transactions, and at the time of publication, the average block time or time it takes to create a new block is 5 seconds.

In related news, the popular memecoin has landed in a well-known platform for trading digital assets Digitra.com, a Brazilian exchange, which recently announced its support for Shiba Inu. This update allows users of Digitra to conveniently purchase, sell, or hold SHIB tokens without any transaction fees.

Bitcoin Whale’s Massive Deposit On Binance Raises Eyebrows In Crypto Community

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Bitcoin has grabbed the crypto community’s attention with an enthralling occurrence, as a whale deposited a significant amount of BTC into Binance, the world’s largest cryptocurrency exchange.

The substantial transaction has ignited speculation regarding potential selling pressure and its potential effects on the price of BTC. It is worth mentioning that this massive deposit occurred when BTC exhibited signs of recovery after experiencing losses in the previous week.

Bitcoin Whale Makes Major BTC Transfer to Binance

Renowned on-chain analyst Lookonchain has reported that a prominent Bitcoin whale recently deposited 1,750 BTC, valued at more than $48 million, onto the Binance exchange just a few hours ago. This event has sparked apprehension among market observers, who perceive such substantial transactions as potential indicators of impending selling pressure.

Significantly, Lookonchain highlights that this particular whale has a track record of purchasing substantial Bitcoin. According to the analyst’s findings, the whale initially acquired 10,000 BTC, worth $171 million, on December 1, 2022, when the price of Bitcoin stood at $17,101.The whale’s Bitcoin holdings currently stand at 2,459 BTC, resulting in an estimated profit of around $107 million.

Bitcoin Market Anticipates Volatility Amidst Whale’s Move

The response of the BTC market to this whale’s actions can be highly unpredictable since the large investor may have motives other than selling the coins. However, considering the historical patterns of price fluctuations that have followed whale deposits on exchanges, it is likely that BTC will soon undergo a surge in volatility.

Based on past events, there is a potential for a temporary decline in BTC price if the whale decides to sell their BTC deposit. The sudden injection of 1,750 BTC into the exchange could initiate a chain reaction of sell-offs by other market participants, resulting in a brief downturn.

Before the emergence of bullish signs, BTC had been experiencing a downward trend over the past few weeks, with a decline of over 10% in the last month. Despite the whale’s activity, BTC trading volume remains below $10 billion.

BTC Price

At the time of writing, the current price of BTC is $26,789, accompanied by a 24-hour trading volume of $15,157,592,389. Within the last 24 hours, Bitcoin has observed a decline of 2.06%. The live market capitalization is valued at $519,452,846,814, with a circulating supply of 19,377,375 BTC coins and a maximum supply of 21,000,000 BTC coins.

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Source: Tradingview.com

Related Reading: | Bitcoin’s Stellar Journey: $8.2T Settled, $13.1B Daily Peak, & Unstoppable Growth |

Arbitrum (ARB) Whale Accumulation Skyrockets To $3 Million In Days, Signaling Potential Bullish Trend

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The scalable Layer 2 Ethereum network known as Arbitrum observes a fascinating pattern where a particular “whale” or significant holder, identified as address “0x37bf,” is gathering substantial ARB tokens. This address was established four days ago and has accumulated a remarkable sum of 2.5 million ARB tokens, valued at around $2.95 million.

Whale Acquires $2.94 Million Worth Arb Tokens Within Days

The whale started by withdrawing 1.5 million ARB tokens from Binance, valued at $1.76 million, for $1.07 per token. Merely 13 hours ago, the same large holder withdrew another million ARB tokens ($1.18 million) from Binance. It is estimated that the average purchase price of this accumulation is approximately $1.13 per token.

While the identity of this whale remains undisclosed, their actions have undeniably captured the attention of the Arbitrum community. This bold maneuver occurs during a time of fluctuation for the ARB token. Nonetheless, it is important to highlight that Arbitrum has experienced a 20% increase in value since it’s recent low, intensifying the fascination surrounding this accumulation.

Amidst recent updates, the Arbitrum Foundation has responded to community pressure by unveiling several modifications. These changes involve splitting a contentious governance package into distinct voting components and rebranding the foundation’s “special grants” program as the “Ecosystem Development Fund.”

Furthermore, the foundation has committed to enhancing transparency concerning fund allocation and the organization’s budget. Additionally, they have emphasized that there are no immediate intentions to sell additional tokens, responding to past concerns raised by the community regarding the sale of millions of dollars worth of ARB tokens for operational purposes without community consensus.

Arbitrum (ARB) Price Movement

The substantial withdrawal of over a million dollars demonstrates the investor’s optimistic outlook on the prospects of ARB. Following a significant drop to its all-time low of $1.06, the ARB token has witnessed an impressive 12.91% surge over the past 7 days.

The average buying price per ARB token for the buyers is approximately $1.13, suggesting a systematic approach to reduce expenses and maximize their token holdings.

The accumulation strategy employed by the whale investor has attracted significant attention and speculation within the cryptocurrency community. This heightened scrutiny has directly influenced the value of ARB.

Currently, the token is experiencing an upward surge, with its value reaching a special price of $1.19 per token, according to CoinMarketCap. The market capitalization of ARB stands at $1,520,777,905, while the trading volume in the last 24 hours has reached $310,180,970.

Relate Reading: | Top 3 Lady’s Token Holders Blacklisted For Suspicious Activity |

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Source: Tradingview.com