Shiba Inu Moves 1.06 Trillion To Coinbase As Price Rises 5%

The leading meme coins by market cap, Dogecoin and Shiba Inu, have been shoveled by whales in the last 10 hours, according to the Whale Alert tracking website. Here are some reasons why these might be sales.

1 trillion Shiba Inu and 500 million DOGE are in motion

Two amazing quantities of meme cryptocurrency have been transferred over the last 10 hours, according to a prominent data platform that tracks significant crypto transactions. As a result, anonymous whales transferred 449,999,998 Dogecoin and 1,060,594,914,048 SHIB from anonymous wallets.

The whopping trillion Shib tokens were sent to the Coinbase exchange, most likely to be sold. The chunk of DOGE was moved between anonymous wallets.

Price increases for DOGE and SHIB

According to the CoinMarketCap scale, the top dog token, DOGE, has increased by more than 9% over the last 24 hours and is still among the top 10 digital assets.

Whale transactions and the sharp increase in financing rate, in the opinion of Santiment Analytics, are the two main causes of this increase. The two “excellent forecasters” of the price’s direction are these two.

A significant factor in the price increases of DOGE and SHIB (Shiba Inu increased by almost 5%) has also been Elon Musk’s decision to resume his purchase agreement with Twitter.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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