PancakeSwap

Uniswap

Bitcoin ETF

when

Shiba Inu

<img decoding="async" width="1200" height="980" src="https://coingape.com/wp-content/uploads/2020/01/Webp.net-resizeimage-51.jpg" class="attachment-full size-full wp-post-image" alt="Whale Heavily Bags SHIB, ETH, CRV, &amp; Others, What's Next?" style="float:right; margin:0 0 10px 10px;" srcset="https://coingape.com/wp-content/uploads/2020/01/Webp.net-resizeimage-51.jpg 1200w, https://coingape.com/wp-content/uploads/2020/01/Webp.net-resizeimage-51-300x245.jpg 300w, https://coingape.com/wp-content/uploads/2020/01/Webp.net-resizeimage-51-768x627.jpg 768w, https://coingape.com/wp-content/uploads/2020/01/Webp.net-resizeimage-51-1024x836.jpg 1024w" sizes="(max-width: 1200px) 100vw, 1200px">
<p>In the background of the broader crypto market’s recent waning price action, marked by a 0.24% slip in the global market cap, a whale has accumulated noteworthy amounts of five cryptos from CEXs OKX &amp; Binance, piquing investor attention globally. The accumulations, encompassing Ethereum (ETH), Shiba Inu (SHIB), Curve (CRV), Uniswap (UNI), and PancakeSwap (CAKE) cryptos, have stirred a hurricane of speculations across the broader crypto market. Despite their sluggish price action in recent days, the whale’s accumulation has propelled optimism on the tokens’ future among crypto market participants.</p>
<p>Here’s a comprehensive report on the matter:</p>
<h2 id="whale-sacks-cryptos-hinting-potential-price-gains-loom">Whale Sacks Cryptos Hinting Potential Price Gains Loom</h2>
<p>Market sentiments usually remain tinted with optimism when it comes to such massive accumulations. Large-scale investors’ accumulations hint at a strong sense of confidence in the asset’s potential to offer gains ahead.</p>
<p>It’s worth noting that these accumulations come amid a recent dip in the market, aligning with a potential ‘buy the dip’ investment strategy taken by the whale. Let’s delve deeper into these tokens’ price movements and accumulations:</p>
<h2 id="ethereum-eth">Ethereum (ETH)</h2>
<p>According to <a rel="noopener noreferrer nofollow" href="https://platform.arkhamintelligence.com/explorer/address/0x8A4E2a7230DDF32bC2481B7275846C17f61BbCfA" target="_blank">on-chain</a> data by ‘The Data Nerd,’ the whale address 0x8A4 withdrew 1,531 ETH, worth $5.3 million, today, June 13. This accumulation comes amid the ETH’s recent slip below the $3,500 price level.</p>
<p>While writing, <a href="https://coingape.com/price/ethereum/" target="_blank" rel="noopener noreferrer nofollow">ETH</a> traded at $3,502.14, down 0.95% over the past day. The token’s RSI rested at 44, hinting at broader neutrality with some downside pressure.</p>
<h2 id="shiba-inu-shib">Shiba Inu (SHIB)</h2>
<p>Meanwhile, on-chain data further illustrated that the same whale accumulated a whopping 94 billion SHIB, worth $2 million, today.</p>
<p>Weekly charts illustrate that <a href="https://coingape.com/price/shiba-inu/" target="_blank" rel="noopener noreferrer nofollow">SHIB</a> dipped over 16%, whereas today, the meme coin fell 1.86% to $0.00002151. The fall in price further aligns with a strategic investment decision. However, SHIB’s RSI stood around 36, underscoring a significant downside momentum. Besides, Shiba Inu could witness notable gains if the token reaches oversold territory ahead. The <a href="https://coingape.com/shiba-inu-coin-burn-rate-soars-3010-with-232m-shib-burned/" target="_blank" rel="noopener noreferrer nofollow">meme coin’s burn mechanism</a> further constantly aids SHIB’s cryptographic venture.</p>
<h2 id="curve-dao-crv">Curve DAO (CRV)</h2>
<p>Further, data showcased that the whale also bagged 581K CRV today, buying the token amid a crash of almost 30% triggered by liquidations. Notably, of all the accumulations, this has sent tongues wagging as it emerges at a time when the <a href="https://coingape.com/crv-price-crashes-30-as-curve-founder-faces-massive-liquidation/" target="_blank" rel="noopener noreferrer nofollow">Curve Finance</a> founder’s (Michael Egorov) CRV holdings themselves are posed with risks.</p>
<p>As of writing, CRV traded at $0.2906, down 19.27% over the past day. The RSI entered an oversold territory, reaching 24, hinting that a potential price rebound looms.</p>
<p><strong>Also Read: <a href="https://coingape.com/australia-largest-bank-offers-monochrome-bitcoin-etf-to-17m-customers/" target="_blank" rel="noopener noreferrer nofollow">Australia’s Largest Bank Offers Monochrome Bitcoin ETF To 17M Customers</a></strong></p>
<h2 id="uniswap-uni-and-pancakeswap-cake">Uniswap (UNI) and PancakeSwap (CAKE)</h2>
<p>Lastly, on-chain insights also revealed a 603K CAKE and 70,680 UNI accumulation by the whale today.</p>
<p>A total of $1.52 million CAKE was sacked against the backdrop of a 21% weekly dip in price. CAKE traded at $2.52, down 3.14$ today.</p>
<p>Similarly, $699K worth of UNI accumulation comes riding the back of a weekly pullback of nearly 6%. UNI traded at $9.99, falling 0.50% in the past 24 hours.</p>
<p><strong>Also Read: <a href="https://coingape.com/mica-boosts-eur-stablecoin-utilization-will-cast-shadow-usd-backed-coins/" target="_blank" rel="noopener noreferrer nofollow">MiCA Boosts EUR-Stablecoin Utilization, Will It Cast A Shadow On USD-Backed Coins?</a></strong></p>
<p>The post <a href="https://coingape.com/whale-heavily-bags-shib-eth-crv-others-whats-next/" rel="noopener noreferrer nofollow">Whale Heavily Bags SHIB, ETH, CRV, &amp; Others, What’s Next?</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.</p>

Whale Heavily Bags SHIB, ETH, CRV, & Others, What’s Next?

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