Shiba

Gemini

Pepe

Shiba Inu

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/whales-shifting-meme-tokens-to-exchanges-market-reacts">Whales Shifting Meme Tokens to Exchanges, Market Reacts</a><br></p>
<p style="text-align: justify">Over recent days, top meme cryptocurrencies have seen a decline, sparking discussions on the potential fade of their market upsurge. Shiba Inu, the second-largest meme coin, has depreciated by 12% since March 9, and Pepe has similarly declined by 5%. These drops have raised eyebrows in the digital asset community and have led to increased vigilance by market participants.</p> 
<h2 id="whale-movements-trigger-market-speculation">Whale Movements Trigger Market Speculation</h2> 
<p style="text-align: justify">A primary source of unease has been the substantial transfers of tokens by major holders—known as whales—into various exchange platforms. On-chain analytics recently highlighted a transaction where a prominent whale moved 200 billion SHIB tokens, valued at about $6.5 million, to the Gemini and Crypto.com exchanges. This whale, an early investor from August 2020, still possesses a sizeable SHIB fortune, with a profit estimation of $129 million. Another large-scale move involved the transfer of 500 billion Pepe tokens to the OKX exchange, representing over $4 million. Such sizeable exchanges to trading platforms are often precursors to market sell-offs and impending price drops.</p> 
<h2 id="insights-into-shib-s-market-dynamics">Insights into SHIB’s Market Dynamics</h2> 
<p style="text-align: justify">Conversely, the quantity of SHIB held by whales has seen an upswing, suggesting a different market dynamic. The reserves of both meme coins on exchanges have diminished recently, casting doubt on the theory of a mass exit by whales from the market. Despite this, leading whales have reportedly reduced their long-term SHIB holdings, according to Hyblock Capital’s analysis, hinting at a lack of confidence in the coin’s near-term growth and possibly motivating their profit realization actions.</p> 
<p style="text-align: justify">The observed heavy transfer of meme coin assets to exchanges has contributed to the bearish sentiment amongst investors. The market has noted a trend reversal for tokens like Shiba Inu and Pepe, with whale activities dampening the immediate prospects for a price rally. As such, the meme token sector faces increased scrutiny, with numerous stakeholders bracing for potential shifts in the market tide.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/whales-shifting-meme-tokens-to-exchanges-market-reacts">Whales Shifting Meme Tokens to Exchanges, Market Reacts</a></h5>

Whales Shifting Meme Tokens to Exchanges, Market Reacts

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