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XRP whales look to have regained their confidence in the XRP token, with recent data showing an accumulation trend among these investors. This is significant as XRP eyes the $1 mark and as these XRP whales could play a role in facilitating such a price rally.
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Crypto whale transaction tracker Whale Alerts recently revealed an interesting on-chain transaction involving popular meme coins Shiba Inu and Dogecoin alongside the well-known crypto exchange Robinhood.
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Bitcoin whales have been consistently accumulating BTC since the beginning of the year amidst a bullish future outlook for the crypto industry. These elevated whale holdings showed investor confidence, which also translated into a bullish rally for Bitcoin over the past six months.
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Shiba Inu (SHIB) whales have regained confidence in the second-largest meme coin by market cap. Recent data shows that these investors are no longer looking to offload their holdings but instead opting to hold for the long term.
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Bitcoin price is pinned below $60,000, but derivatives and stablecoin data show traders remain optimistic.
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On-chain data presents a staggering perplexity surrounding Shiba Inu amidst the recent broader price decline in the past three weeks. Interestingly, this on-chain data presents itself in the large transaction volume of SHIB tokens across the Shiba Inu network.
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