Whale Focus on SHIB and These 4 Altcoins: There is a 651 Percent Rise!

Critical developments for the famous meme coins Shiba Inu (SHIB) and Dogecoin (DOGE) attracted attention. There were also some whale movements in AAVE and Ethereum. Here are the details…

Recent whale movements increased in DOGE

Dogecoin (DOGE/USD) has been attracting attention in the cryptocurrency market as recent whale activity and an increase in daily active addresses indicate an upcoming significant move. The transfer of an impressive 990 million Dogecoins worth $79.8 million on January 16, 2024 sparked speculation and various reactions within the crypto community. Whale Alert data reveals a significant transfer of 990 million Dogecoin from an unknown wallet to another address. The receiving address received Dogecoin in 11 separate transactions worth 90 million Dogecoin each.

This notable transaction occurred during a period of significant growth in daily active Dogecoin addresses, reaching a peak of 250,289 on December 19. This increase represents a fivefold increase in normal activity and reflects increased interest and participation within the Dogecoin community. While Dogecoin has experienced a modest 1.4% increase in the last 24 hours and a 4.2% increase in the last seven days, the potential for a significant move remains a matter of debate. Dogecoin, in particular, has positioned itself ahead of other leading cryptocurrencies, ranking fourth in liquidity according to a research report from Kaiko smart data.

SHIB whale activity rises 651 percent

Surprisingly, the Shiba Inu (SHIB) community is witnessing an unprecedented increase in whale activity. There was a staggering $56.45 million in whale transactions involving SHIB; This represents a remarkable increase of 651% in the last 24 hours. This surge in whale movement resulted in a staggering total of 5.9 trillion SHIB tokens being exchanged in just 18 transactions, worth over $100,000 each.

While the number of transactions may seem relatively small, the volume involved is nothing short of extraordinary. SHIB price continues to hover near the critical threshold of $0.00001, attracting the attention of enthusiasts and investors alike. Removing the zero from the Shiba Inu token price has been a central topic in the community for weeks.

Whale moves were also on the agenda in AAVE and ETH

Aave founder Stani Kulechov sold 5.5k AAVE for 563.96k USDC at an average price of $102.5. These tokens were purchased 24 days ago from gnosissafeproxy at an average price of $97.04. Abraxas Capital Management (Heka Funds) earned 1.5 thousand ETH ($3.87 million) from Binance. In total, 17.22 thousand ETH (worth $44.45 million) were withdrawn from central exchanges in 10 transactions in 3 days.