The crypto market has been buzzing with activity as crypto whales make significant transactions involving Dogecoin (DOGE) and Shiba Inu (SHIB). These moves have caught the attention of investors around the world, reflecting a surge of confidence in the volatile meme coin sector. As the broader crypto market experiences a bullish momentum, these large-scale transactions are gaining more attention.
Whale Alert and Scopescan, two blockchain transaction tracking platforms, have reported major whale activity related to DOGE and SHIB. One whale recently transferred 1 billion DOGE, worth $78.85 million, from Binance to an unknown wallet. Another whale accumulated 500 billion SHIB, valued at $4.73 million, from Gate.io. This same whale also moved 1.08 trillion SHIB, approximately $10.27 million, from Binance and Gate.io in the past 24 hours.
These high-stakes transactions demonstrate growing investor confidence in meme coins, despite their volatile nature being a topic of discussion. At the same time, the bullish momentum in the broader crypto landscape reflects the increasing interest of traders in the digital asset space.
Along with this, there is also speculation about the potential approval of a Spot Bitcoin ETF by the SEC this week. This has been attributed to the recent gains in the crypto market by several analysts, with trading expected to start as early as Thursday.
Investors are closely monitoring the regulatory landscape and its potential impact on various digital assets, including meme coins like DOGE and SHIB. The influx of capital into these tokens highlights a trend of optimism and risk appetite in the crypto space.
Despite this, the price of DOGE remains near the flatline, reaching a 24-hour high of $0.08172. Similarly, SHIB saw a slight gain of 0.62% to $0.000009298, with a 24-hour high of $0.000009585.
In other news, Solana’s developer retention rate has increased by 50% in the past three months, showcasing the platform’s growing popularity. This highlights the potential for further growth and innovation in the crypto space.
