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Shiba Inu (SHIB) whale activity heightens speculations
Whale Alert highlighted a large movement of Shiba Inu (SHIB) tokens on Tuesday. According to a tweet, Crypto.com transferred 1.634 trillion SHIB, worth $39 million, from its hot wallet “0xf2B0” to an unidentified wallet at 13:47 UTC.
The exchange repeated this transfer five times in one hour, later revealing a total of 32.74 trillion SHIB, valued at $390.3 million, moved to the same address. Data showed the SHIB tokens were internally transferred to a Crypto.com deposit address, likely to manage liquidity and security.
The whale action has generated wild speculations. Some users speculated a whale was acquiring SHIB, while others suspected a potential hack. Despite the clarification, Shiba Inu’s price fell by 10% on Tuesday and declined an additional 10% the following day, trading at $0.00002176.
Analysts believe breaking the $0.000025 SHIB resistance level could lead to a Shiba Inu price increase. Increased liquidity on major exchanges like Binance is expected to support long-term SHIB price stability. SHIB’s trading volume has surged by 80% since to $870m.
PEPE whale dump and oversupply affect price prediction certainty
PEPE’s market value is $7.77 billion, backed by 420.68 trillion tokens in circulation and daily trades worth almost $2 billion. Recent activity from large investors is influencing prices.
Data shows a whale moved 217 billion PEPE tokens worth $4.54 million to Kraken. This investor gained $767K (20%) in just 17 days. The whale still owns 1.21 trillion tokens valued at $25.1 million. These large trades create more tokens in the market but also cause quick price changes.
PEPE trend indicators show mixed signals. The Aroon Up at 78.57% suggests bullish sentiment, while the ADX at 20.69 shows weak momentum. Analysts predict a price rise only if PEPE moves past $0.00002100.
Oversupply is causing problems for the certainty of PEPE price prediction. PEPE’s stock-to-flow ratio has dropped to zero, adding pressure to the token. Data shows 55% of traders expect further declines and have taken short positions, as a result.
Meanwhile, the interest in PEPE futures is growing. Open interest reached $528.69 million, and trading volume rose 10.25% to $576.38 million. The PEPE/USDT chart shows the price staying flat around $0.00001847, a 7% decline in the last week and 30% downturn in the last month.
The MACD line is slightly above the signal line, hinting at weak buying interest. A breakout above $0.00002100 may attract more buyers, but without new developments, prices could remain steady.
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Source: https://www.cryptopolitan.com/shiba-inu-shib-and-pepe-pepe-holders-tire-from-volatility-many-are-seeking-100x-gains-with-the-new-xrp-remittix/