Prix de Inu.INU

Concerns have emerged over Shiba Inu’s (SHIB) token distribution after analysts revealed that several wallets hold a significant portion of its supply. On Friday, crypto analytics firm Santiment reported that the top 10 SHIB wallets collectively own 61.3% of the total supply. By comparison, Ethereum’s top 10 wallets hold 46.1% of its supply, while Chainlink and Toncoin have even lower concentrations at 33.1% and 32.8%, respectively. Notably, as per the firm, such a high concentration for SHIB raises fears of price manipulation and volatility. “When the top 10 largest wallets hold a big portion of a cryptocurrency’s total supply, like Shiba Inu at 61%, it means a small number of holders have significant control over the market. If these wallets decide to sell, it can cause sharp price drops, creating greater risks for smaller investors.” The firm tweeted. On the other hand, cryptocurrencies with more evenly distributed ownership are considered more stable, as they are less susceptible to market manipulation by a few large players. However, a closer look at the nature of these wallets reveals that the situation may not be as concerning as initially feared. While the numbers suggest that a small number of entities control SHIB’s supply, the firm noted that many of these top wallets do not belong to individual investors or whales but are controlled by exchanges and the SHIB burn wallet. Notably, the official burn wallet is the largest SHIB wallet, which holds an astounding 41% of the total supply. These tokens have been permanently removed from circulation, meaning they cannot be sold or reintroduced to the market. This significantly reduces concerns about potential sell-offs from this particular address. The second-largest wallet, containing 44.72 trillion SHIB, belongs to the South Korean exchange Upbit. Similarly, Binance holds 44.19 trillion SHIB as the third-largest wallet, while Robinhood controls the fourth-largest with 39.27 trillion SHIB. Other major exchanges like Crypto.com, OKX, and BitGo also hold substantial amounts. Since these exchanges hold SHIB on behalf of millions of retail investors rather than for personal investment, the likelihood of coordinated price manipulation is much lower than initially perceived. It’s also important to note that such entities, particularly Robinhood, have continued accumulating SHIB, signaling a growing interest in the meme coin. According to Santiment, such purchases indicate confidence in the meme coins future. “If these large holders continue to hold or accumulate, it generally signals confidence in the project and can actually reward traders who collectively hold less power and rely more heavily on the behavior of a few large key stakeholders.” Santiment wrote. SHIB traded at $0.00001569 at press time, reflecting a 1.10% surge in the past 24 hours.

Digital asset whales have picked up huge Dogecoin (DOGE) holdings amid the ongoing price correction. Meme coins like DOGE, Shiba Inu (SHIB), and Dogwifhat (WIF) recorded outflows in the last seven days, but mid-week numbers show signs of a reversal. The wider crypto market traded sideways after sentiments plunged in reaction to U.S. macro tensions. Whales Take Huge DOGE Positions This week, crypto whales have capitalized on the crypto downturn to accumulate meme coins. On-chain data shows traders acquired 750 million DOGE tokens, which shows strong signs of a possible reversal. This has been re-echoed by market analysts pointing to on-chain and price charts backing an uptick. The leading meme coin stands at the fore due to the Elon Musk effect, amongst others. Crypto repositioning is normal during dips as retail clients exit the market for larger holders. DOGE whales dominate the market, shaping the wider direction of these assets. Recently, DOGE whales have intensified buying pressure in a bid to recover losses ahead of the coming altcoin season. In the same period, traders moved assets off exchanges to other custodians. Despite recording double-digit price falls, meme coins are known to outpace the wider sentiments due to high volatility. This week, Canadian blockchain company Neptune Digital Assets purchased 1 million DOGE worth approximately $270,000 as part of its pro-crypto efforts. This comes after Spirit Blockchain brought DOGE to its holdings, marking a rise in institutional investment in the meme coin. Neptune Digital Assets increased its Bitcoin portfolio by $2 million currently holding 376 BTC worth approximately $37 million in the asset. Growing institutional interests in Bitcoin have a ripple effect on meme coins. DOGE To Ignite Altcoins At the time of writing, DOGE trades at $0.2491, down 5% today along the lines of other meme coins. The asset’s weekly losses are over 20%, flagged as a good entry point for most traders ahead of anticipated gains. Dogecoin’s projected gains can fuel inflows to other coins as part of a wider cycle high. For more traders, momentum lies in the approval of a spot Dogecoin ETF expanding its reach to more investors. Like Bitcoin products, these funds are expected to lead a new horizon as bulls set sights on $1. Furthermore, traction from positive US legislation and Elon Musk’s lead Department of Government Efficiency (DOGE) are expected to build positive sentiments for several market participants.

The post Dogecoin and Shiba Inu Poised for Major Comeback: Will SHIB and DOGE Prices Hold Momentum? appeared first on Coinpedia Fintech News The recent turbulence in the market have significantly affected meme coins, causing their total market cap to fall below $70 billion. While some altcoins and meme coins have shown a lot of price fluctuations, Shiba Inu & Dogecoin, in particular, are having a hard time stabilizing their prices. However, some experts believe that the ongoing consolidation in the prices of DOGE and SHIB, especially during a dip, could trigger a strong recovery ahead. Dogecoin and Shiba Inu Silently Gain Momentum According to data from Coinglass, Dogecoin saw a significant amount of liquidation in the past 24 hours, with around $6.77 million in DOGE positions being closed. This included about $3.55 million sold by buyers and $3.22 million by sellers. Meanwhile, SHIB experienced about $137,000 worth of liquidation, with buyers accounting for $73.5K of that total. Also read: Cryptos to Lookout For the Coming Week: HBAR, ONDO, & QNT Price to Explode Soon Despite these liquidations, the prices of both meme coins have remained stable, which could indicate a potential rally ahead. Analysts suggest that this stability might be the calm before a storm, as large investors continue to buy SHIB and DOGE during the recent price dip. This buying could strengthen support levels and potentially lead to a sharp increase in the prices of Dogecoin and Shiba Inu. Dogecoin Price Analysis Dogecoin price made a sharp decline from the $0.3 mark, which suggests that the bears have turned this level into resistance. Bears are dominating as DOGE struggles in surging above immediate resistance of $0.26. As of writing, DOGE price trades at $0.254, surging over 1.47% in the last 24 hours. The selling pressure continues to be dominating below the $0.30 level. However, buyers have built a strong support around $0.2 as it forms an accumulation zone. Any recovery is likely to encounter selling pressure at the previous support now turned resistance level of $0.30. If the price continues to hold below that level, the bears might push the DOGE/USDT pair below $0.20. Conversely, if Dogecoin breaks and holds above $0.30 following ongoing accumulation, it could indicate that the bears are losing control. This could mean that a bottom has been established, pushing the DOGE price toward $0.34. Shiba Inu Price Analysis SHIB price is attempting for a recovery as the price aims for a surge above the EMA50 trend line. However, the price of SHIB continues to face resistance. Currently, the SHIB price is at $0.000015, having surged over 0.24% in the last 24 hours. The SHIB/USDT trading pair remains under the downtrend line, showing strong selling pressure from bearish traders. This price level may continue to be a significant barrier, as short-term holders (STHs) might opt to sell off their positions at this level. However, we expect the SHIB price to retest its resistance at $0.00001717. If the price stays above the EMA20 trend line on the 1-hour chart, buyers could attempt to send it toward $0.000022. With the Relative Strength Index (RSI) remaining below the midline at 40, there could be a drop toward $0.000012.

Shiba Inu Partners With UAE Ministry of Energy, Boosting SHIB Appeal (Moshed) #Bitcoin $BTC

Shiba Inu price is about to form a death cross chart pattern and has formed a double-top, pointing to more downside soon