The post XRP Witnesses $44 Million Token Transfers; Analysts Claim XRP Poised For Significant Rally Ahead appeared first on Coinpedia Fintech News
Over the last 24 hours, XRP has witnessed significant token transfers. WhaleAlert noted the two large XRP transactions totaling about 44 million XRP. Notably, both transactions involved moving substantial amounts of XRP from prominent exchanges to unknown wallets.
Tags: B&T Latest News
-->Published in B&T Latest News 28 November, 2024 by The bizandtech.net Newswire Staff
Here’s Why You Should Add Shiba Inu (SHIB) Now
The post Here’s Why You Should Add Shiba Inu (SHIB) Now appeared first on Coinpedia Fintech News
Amid ongoing price consolidation, whales appear to be making big bets on Shiba Inu (SHIB), the second-largest cryptocurrency by market cap. However, these notable bets have been observed within a tight range between $0.00002287 and $0.00002644 as the meme coin has been moving within this range for the past two weeks.
Whales and Institutions Strong Action
During this range, whales and institutions have accumulated a substantial 5.45 trillion SHIB meme coins, valued at $162 million in the past three days.
According to the on-chain analytics firm Glassnode, exchanges across the crypto landscape have experienced significant outflows over the past three days, indicating that tokens are being moved out of exchanges. This notable outflow suggests that both whales and retail investors have shown strong interest and confidence in the meme coin.
Furthermore, this substantial withdrawal could significantly reduce selling pressure and prevent a price decline in the coming days.
In addition, on November 28, 2024, a newly created wallet withdrew 60 billion SHIB tokens, valued at $1.52 million, from Binance, the world’s largest cryptocurrency exchange.
A newly created wallet withdrew 60B $SHIB($1.52M) and 150B $PEPE($2.94M) from #Binance 1 hour ago.https://t.co/bsWy1WtPUh pic.twitter.com/nzm6WARUNk
— Lookonchain (@lookonchain) November 28, 2024
This notable withdrawal from exchanges suggests that SHIB could be an ideal meme coin to add to your wallet for the upcoming rally amid ongoing price consolidation.
Rising Open Interest
In addition to long-term holders, traders also appear optimistic, as they have increased their open positions in the past 24 hours. Data from the on-chain analytics firm Coinglass reported that SHIB’s open interest (OI) has risen by 3.9% over the past 24 hours and continues to climb steadily. This growing OI hints at traders’ strong belief and confidence in the meme coin.
Shiba Inu (SHIB) Technical Analysis and Upcoming Levels
According to expert technical analysis, SHIB is currently in a consolidation zone, with its price appearing to struggle. Based on recent price action and historical momentum, if SHIB breaks out of this tight range and closes a daily candle above the $0.00002644 level, there is a strong possibility it could surge by 40% to reach $0.000037 in the coming days.
In addition to this bullish outlook, SHIB’s Relative Strength Index (RSI) further indicates that the meme coin has significant room for growth. Currently, SHIB’s RSI value stands at 58, well below the overbought point of 70, suggesting that potential upside momentum is still in play.
Current Price Momentum
At press time, SHIB is trading near $0.00002528 and has remained unchanged in the past 24 hours. Meanwhile, its trading volume during the same period has grown by 18%, indicating heightened participation from traders and investors, amid this bullish outlook.
Published in B&T Latest News 28 November, 2024 by The bizandtech.net Newswire Staff
Ronin Network Reports Growth with $1.2B TVL, 10.2M Weekly Transactions, and $395K Daily NFT Volume
Ronin Network has reported significant growth in its ecosystem, showcasing strong network effects and increasing institutional interest
Published in B&T Latest News 28 November, 2024 by The bizandtech.net Newswire Staff
Our favorite budget espresso machine just dropped to $118 — save big with this Black Friday deal
This editor-approved espresso machine is the ideal gift for coffee lovers
Published in B&T Latest News 28 November, 2024 by The bizandtech.net Newswire Staff
My favorite iPhone 16 Pro MagSafe case just got a huge 40% discount for Black Friday
Mouse make impressive cases for smartphones and the Limitless 6.0 is one of the best, including MagSafe compatibility.
Published in B&T Latest News 28 November, 2024 by The bizandtech.net Newswire Staff
Tether Moves $495M USDT To Binance; Crypto Community Predicts Massive Pump
The post Tether Moves $495M USDT To Binance; Crypto Community Predicts Massive Pump appeared first on Coinpedia Fintech News
According to data from Whale Alert, Tether has recently moved almost half a billion dollars worth of $USDT from its treasury to Binance. The specific amount, 495,375,113 USD, has drawn mixed reactions from several users in the crypto space, with some suggesting that the largest stablecoin provider might be shifting focus to purchasing BTC. This could signal some serious market activity ahead, as big transfers like this often suggest a lot of liquidity is about to hit the exchanges.
Published in B&T Latest News 28 November, 2024 by The bizandtech.net Newswire Staff
Bitcoin Dominance Slips as Ethereum Rallies
On Wednesday, spot Bitcoin ETFs collectively recorded $103 million in inflows.
Published in B&T Latest News 28 November, 2024 by The bizandtech.net Newswire Staff
Ends tomorrow! Save 20% on top Emma mattress this Black Friday — plus free mattress protector
Get 20% off the Emma Original Hybrid and enjoy a free mattress protector in the Black Friday sales — but quick, it ends tomorrow!