141,818,659 XRP changed hands before massive sell-off left market guessing why.
Whale Alert tracked a single transfer of 141,818,659 XRP, worth $415,624,232 at the time. At first, it appeared to be a typical mystery whale transaction, or possibly Ripple moving its supply. However, on-chain data suggests otherwise, as both ends of the transaction are Kraken-linked addresses. The sending account’s last outbound transfer was for 99,018,954 XRP, and the receiving account (activated via a Kraken tag) now holds 141,818,661 XRP.
This suggests internal shuffling between exchange wallets rather than tokens being released onto the market. The transfer itself did not affect the price right away. XRP traded at around $2.85 after the alert was issued. It was not until approximately four hours later that Bitstamp showed a decline to $2.68, a fall of around 6% from the intraday high, before recovering to above $2.82.
SHIB may not only add zero but also hit levels not seen since 2021.
The Shiba Inu (SHIB) chart does not leave much room for optimism. The price is currently holding at $0.00001207, but the monthly setup points directly to the lower Bollinger Band at $0.00000611. This would erase a digit from the price figure and take SHIB back to levels not seen since 2021, when the token first appeared in the crypto market’s mainstream.
Past performance shows that every bounce has been weaker than the last. Attempts to climb above $0.00002000 have been unsuccessful, and the resistance level of $0.00002800 has not been approached in over a year. Instead, trading volume has decreased, the price range has narrowed and the Bollinger Bands are indicating a potential move.
Dogecoin is facing bearish liquidations as ride to $1 faces biggest setback.
Dogecoin, the king of meme coins, has suffered severe liquidation in the last 12 hours. This was triggered by intense volatility, which resulted in an over 10% price drop within the last 24 hours. According to CoinGlass’s liquidation heat map, approximately $58 million worth of assets have been wiped out within this period.
Notably, Dogecoin bulls suffered the greater loss in the liquidation imbalance as $56,520,000 was lost by long position traders. These traders were betting on a bullish price for DOGE, but the prevailing market volatility has dashed market expectations. Primarily, the market rotated, with capital shifting to Bitcoin from altcoins.
Within the last 24 hours, the Altcoin Season Index fell by over 11.5% as Bitcoin regained dominance. This development has reduced the amount of funds investors are willing to commit to the meme coin. The shift triggered profit-taking among retail traders as they panicked amid the declining price outlook.
