Shiba

Pepe

Shiba Inu

<p>The post <a href="https://coinpedia.org/news/shiba-inu-shib-and-pepe-pepe-whales-on-dumping-spree-amid-ongoing-crypto-correction/">SHIB &amp; PEPE Plunge Amid Crypto Market Dips: Meme Coin Frenzy Ends?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>The cryptocurrency market has experienced a significant downtrend over the past 24 hours, led by Bitcoin (BTC). The leading cryptocurrency briefly dipped below $60,000 before stabilizing around $61,000 during the early European session on Tuesday. This notable drop resulted in more than $300 million in total liquidations, predominantly affecting long traders.</p> 
<p>Will meme coins like Shiba Inu and Pepe suffer the same fate? Dive deeper to find out what’s next for the crypto market and how you can navigate the volatility. </p> 
<h2 class="wp-block-heading" id="h-meme-coins-take-a-hit">Meme Coins Take a Hit</h2> 
<p>Amid the ongoing market correction, the valuation of meme coins has plummeted from nearly $70 billion to around $47 billion. This high level of speculation in the crypto market has heightened fears of further corrections in the coming weeks, potentially before an anticipated altseason surge.</p> 
<p>According to the latest market data, Ethereum-based Shiba Inu (SHIB) has dropped 30 percent over the last four weeks, hovering around $0.0000173 as of Tuesday. Similarly, the frog-themed Pepe (PEPE), with a fully diluted valuation of about $4.88 billion and a daily average trading volume of approximately $939 million, has shed more than 22 percent in the past four weeks, trading at about $0.00001161.</p> 
<h2 class="wp-block-heading" id="h-whales-opt-for-caution">Whales Opt for Caution</h2> 
<p>With Bitcoin’s price action suggesting further corrections, some crypto traders are choosing to stay on the sidelines. On-chain data reveals that a Shiba Inu whale address, which accumulated coins between November and December last year, has deposited its holdings worth around $18.12 million into Binance.</p> 
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   <p lang="en" dir="ltr">Two big whales deposited $25.95M worth of <a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SHIB</a> and <a href="https://twitter.com/search?q=%24PEPE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$PEPE</a> to <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw">#Binance</a> in the past 14 hours. Did whales become bearish with <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw">#Ethereum</a> <a href="https://twitter.com/hashtag/memecoins?src=hash&amp;ref_src=twsrc%5Etfw">#memecoins</a>?<br><br>1. Whale 0x42a deposited all 1.088T <a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SHIB</a> ($18.12M) ~14 hours ago.<br><br>• Accumulation period: Nov and Dec 2023 (the market bottom).<br>•… <a href="https://t.co/fspHueZ7Mi">pic.twitter.com/fspHueZ7Mi</a></p>— Spot On Chain (@spotonchain) <a href="https://twitter.com/spotonchain/status/1805415598916354535?ref_src=twsrc%5Etfw">June 25, 2024</a>
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<p>Additionally, another whale deposited 700 billion PEPE, valued at over $7.8 million, into Binance and currently holds around 800 billion PEPE.</p> 
<h2 class="wp-block-heading" id="h-understanding-the-market-sentiment">Understanding the Market Sentiment</h2> 
<p>Despite the accelerated market downturn, popular crypto analyst Ali Martinez predicts a strong rebound in the coming days. There is a growing call among investors to buy the dip, anticipating a market recovery in the near term.</p> 
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   <p lang="en" dir="ltr">The TD Sequential presents buy signals on the daily charts of <a href="https://twitter.com/hashtag/Solana?src=hash&amp;ref_src=twsrc%5Etfw">#Solana</a>, <a href="https://twitter.com/hashtag/ShibaInu?src=hash&amp;ref_src=twsrc%5Etfw">#ShibaInu</a>, and <a href="https://twitter.com/hashtag/Cardano?src=hash&amp;ref_src=twsrc%5Etfw">#Cardano</a>, anticipating a price rebound for these <a href="https://twitter.com/hashtag/altcoins?src=hash&amp;ref_src=twsrc%5Etfw">#altcoins</a>! <a href="https://t.co/P8ZOYm9qTu">pic.twitter.com/P8ZOYm9qTu</a></p>— Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1805495390214701323?ref_src=twsrc%5Etfw">June 25, 2024</a>
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<p><strong>Is this the buying opportunity you’ve been waiting for, or the calm before another storm?</strong></p>

SHIB & PEPE Plunge Amid Crypto Market Dips: Meme Coin Frenzy Ends?

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