Recent reports indicate a potential massive sellout of SHIB in the upcoming hours. According to the investment API “Whale Alert”, an anonymous investor moved millions of dollars in SHIB to a centralized exchange.

Specifically, the transfer involved approximately $74 million worth of Shiba Inu (SHIB) tokens moved to Robinhood, raising speculations of an impending selloff.

Generally speaking, moving large funds to an exchange implies that the holder wants to either swap or withdraw the funds permanently. This news coincides with another report of a whale moving 800 billion SHIB to an unknown wallet.

Shiba Inu’s Recent Surge

This significant transaction comes on the heels of a 10% surge in SHIB’s value, driven by notable developments in the Shiba Inu ecosystem. On May 15, the SHIB development team announced the successful porting of ShibaSwap to the Shibarium blockchain, allowing users on both Ethereum and Shibarium networks access to its trading platform. The revamped ShibaSwap includes enhanced features and processes, empowering decentralized finance (DeFi) innovators within the Shibarium ecosystem.

The migration of ShibaSwap to the Shibarium network marks a milestone in the SHIB project’s evolution, providing a robust platform for community tokens to flourish. This updated ShibaSwap introduces a suite of functionalities, including an updated dashboard and streamlined processes for deposits, staking, liquidity provision, and withdrawals.

Speculation of Peaking SHIB

The whale’s move to cash out after this recent surge aligns with reports suggesting the currency may be peaking. Investors are closely watching these developments, speculating on the potential market impact.

Whale Investor Focuses on Mollars

Amid this activity, another whale investor is making headlines by focusing on the Mollars token. This prominent investor has been consistently dollar-cost averaging (DCA) into Mollars presale tokens over the past few months. Dollar-cost averaging is an investment strategy that spreads investments over time to reduce the impact of market volatility, potentially lowering the average cost per token and mitigating risks.

The investor, recently featured in an article by CryptoNews, holds over 7.974272038 ETH worth of Mollars across 12 transactions. With Mollars scheduled for its Initial Coin Offering (ICO) on May 31st, this whale is positioned for substantial returns. The average purchase price during the early presale rounds was $0.40 per token, and with the token trading at $0.55, the investor is already seeing preliminary gains. The token is projected to launch at $0.62, potentially yielding around 54% returns if the presale hardcap is reached.

Proven Success in Altcoins and Memecoins

An analysis of this whale’s wallet reveals a history of successful investments in memecoins and altcoin ICOs, including Robo Inu (RBIF), Volt Inu (VOLT), and Shiba Inu (SHIB). The performance of these altcoins highlights the investor’s expertise. For instance, Volt Inu surged by approximately 240% following its late 2022 launch, and Robo Inu saw a 390% increase shortly after its debut.

Strategic Shift from SHIB to Mollars

The top Mollars investor appears to be reallocating some profits from SHIB into Mollars, likely due to the memecoin’s recent performance and speculation of it peaking. The investor’s shift suggests confidence that Mollars will outperform Shiba Inu in 2024.

On top of projections that the token will have ROI yields of +4000% and up shortly after its launch next month, 3 crypto exchanges have already confirmed they will list the token already as well.   Mollars will be introduced to nearly 20-million users

Why Mollars is an Appealing ICO

The Mollars token presale has successfully raised $1.31 million, indicating strong investor interest. 

With a total supply of only 10,000,000 tokens, over 28% of which are already owned by investors, Mollars is designed to be a stable store of value. Its development team holds no tokens, ensuring fair distribution. Positioned as the Ethereum-based equivalent of Bitcoin, Mollars aims to offer stability and long-term value, making it an attractive asset for investors seeking dependability in the volatile cryptocurrency market.

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Filed under: Bitcoin - @ May 22, 2024 7:18 am