Part of Large Shiba Inu Withdrawals that Shook the Crypto Market Moved to MoonTaurus Presale, Experts Explain Why
The post Part of Large Shiba Inu Withdrawals that Shook the Crypto Market Moved to MoonTaurus Presale, Experts Explain Why appeared on BitcoinEthereumNews.com.
Recent large withdrawals of Shiba Inu (SHIB) have significantly impacted the crypto market, raising questions about where the funds are headed. CoinMarketCap reported a transfer of 2.7 billion SHIB, valued at $48,343,500, from Robinhood to an unknown wallet. Amidst this market shake-up, a substantial portion of these withdrawals have been funneled into the MoonTaurus (MNTR) presale. This new presale meme coin has already raised over $150,000 in its first phase, with tokens priced at $0.005, generating considerable excitement among investors. Shiba Inu: Whale Activity and Market Uncertainty Recent activity in the Shiba Inu ecosystem indicates a possible shift in market sentiment. Shiba Inu, trading at $0.00001797 with a market cap of over $10.5 billion, saw a substantial withdrawal of 2.7 billion SHIB from Robinhood to an unknown wallet, valued at approximately $48.3 million. This move by a whale suggests potential price volatility as large holders alter their positions. Despite this, Shiba Inu’s overall market metrics reveal a mixed picture. The increase in supply held by top addresses indicates whale accumulation, whereas the sharp rise in exchange inflows indicates increased selling pressure. These dynamics, as indicated by the rising NVT ratio and declining MVRV ratio, may result in a price correction. However, Shiba Inu continues to attract new addresses, showing robust network growth despite market uncertainties. MoonTaurus (MNTR) Seizes Investor Attention MoonTaurus, a new entrant in the cryptocurrency market, is captivating investors with its strong presale performance. The project has quickly raised over $150,000, demonstrating high demand and investor confidence. The presale is structured in multiple phases, with the initial phase already halfway through and priced at $0.005 per token. The price will double in the next phase, indicating rapid value appreciation and creating a sense of urgency among investors. MoonTaurus is set to launch at $0.07, offering a 1400% return…
Filed under: News - @ August 2, 2024 1:02 am