The post Dogecoin, Shiba Inu Whales Make Big Moves: To What End? appeared on BitcoinEthereumNews.com.

Whales sent 579 trillion SHIB to Binance while 514.74 million DOGE were involved in large transactions.  DOGE rose to $0.093 but could face resistance at the $0.095 region. While SHIB’s volatility increased, it may consolidate between $0.000010 and $0.000011. According to Whale Alert, whales have been making a lot of memecoin transactions since December 18. The whale tracking handle noted in a post on X that one whale shifted 64.74 million Dogecoin (DOGE) to Coinbase. A transaction like this suggests that the whale in question could be about to sell. This could put downward pressure on the price of DOGE. Meanwhile, another whale made another large transaction, sending 450 million DOGE to an unknown wallet. In this case, it was uncertain if the latter whale aimed to sell or keep for the long term. Meanwhile, Dogecoin was not the only meme on the radar of whales as Shiba Inu (SHIB) was also spotted being moved around in bulk. According to Whale Alert, 579.04 trillion SHIB tokens were sent to the Binance exchange. However, this did not appear to interrupt SHIB’s uptrend. Instead, the token price increased by 4.84% to trade at $0.000010. DOGE also rose to $0.09, thanks to a 1.71% increase within the same period.  It’s a SHIB Bull Party From the technical perspective, SHIB sellers had become exhausted since the token fell from $0.000011 to $0.000009 on December 18. As a result, buyers took advantage of the fatigue and pushed SHIB back in the upward direction.   But it may be too soon to assume that SHIB is ready for a rally considering the Moving Average Convergence Divergence (MACD). At press time, the MACD was zero, with the 12 and 26-day EMAs inching closer to one another. The MACD reading indicates a waning bullish bias. Hence, SHIB may consolidate…

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Filed under: News - @ December 19, 2023 6:10 pm