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Whale Withdraws $10.68M Worth of PNUT from Binance

According to Lookonchain, a whale created a new wallet two hours ago and withdrew 8.41 million PNUT (valued at $10.68 million) from Binance.
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Santiment Report: Meme Coins See Modest Gains Amid Whale Activity and FOMO Risks

According to BlockBeats, on December 8, the cryptocurrency market research firm Santiment shared insights on social media, highlighting subtle breakthroughs among several meme coins over the weekend. Tokens such as Dogecoin, Pepe, Dogwifhat, and Bonk have shown increased activity, with whale wallets potentially driving up market capitalization over an extended period. This trend is expected to continue until retail investors, driven by fear of missing out (FOMO), re-enter the market.The analysis suggests that once the general public becomes aware and starts investing heavily, these large holders, or 'whales,' may begin to sell off their holdings. This pattern often leads to a subsequent price correction shortly after the initial surge. The behavior of these whale wallets plays a significant role in the price dynamics of meme coins, as their large transactions can significantly impact market trends. The current situation indicates a strategic movement by these whales, capitalizing on the market's volatility and the psychological tendencies of smaller investors. As the market observes these developments, the potential for price fluctuations remains high. Investors are advised to stay informed and cautious, considering the historical patterns of whale activity and its effects on meme coin valuations. The ongoing situation underscores the importance of understanding market dynamics and the influence of major stakeholders in the cryptocurrency space.
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Shiba Inu Burn Rate Surges Over 5,000% Amid Price Fluctuations

According to U.Today, the Shiba Inu (SHIB) community has significantly increased its burn rate, removing tens of millions of SHIB tokens from circulation. In the past 24 hours, a total of 61,468,595 SHIB coins have been sent to unspendable wallets, marking a 5,154% increase in the burn rate. This surge was largely driven by a single massive burn transaction, which accounted for 80.95% of the total amount burned. The largest transaction involved 48,266,929 SHIB, executed by an unknown wallet. This was followed by smaller transactions of 6,008,171 and 3,938,558 SHIB.The SHIB team, through its marketing lead known as Lucie, addressed the community, emphasizing the importance of patience and commitment to building within the crypto space. Lucie advised against investing large sums into blockchain projects unless one is a crypto billionaire, suggesting that focusing on personal passions and allowing growth to occur naturally is more effective. She also highlighted the need to ignore negative influences and individuals who contribute little to the community.In terms of market performance, Shiba Inu has experienced notable price movements. Over the past day, SHIB's price rose by approximately 7.5%, reaching $0.00002652, before declining by 4.3% to $0.00002539. This fluctuation follows a 12% increase since Tuesday, reflecting the volatility often seen in meme cryptocurrencies. Despite the recent decline, the SHIB community remains active in its efforts to reduce the circulating supply through strategic burns.
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Shiba Inu Shows Potential for Significant Price Surge

According to ShibDaily, Shiba Inu (SHIB) is showing signs of a potential price surge, with predictions suggesting an increase of over 300% from its current value. On Tuesday, Javon Marks, a cryptocurrency analyst, shared insights on X (formerly Twitter) about several bullish technical indicators that could propel SHIB to new heights. Marks noted that Shiba Inu has been in a strong position, having broken out and risen by over 162% recently. He highlighted a "Hidden Bullish Divergence," which indicates increasing buying pressure despite price dips, as a key factor in the potential price increase.Marks' analysis suggests that this divergence could push SHIB over 75% above its 2024 highs, potentially leading to a 215% increase to a target price of $0.000081. The analysis also pointed out a significant breakout in late 2023/early 2024, followed by consolidation above previous resistance levels, now acting as potential support. This shift in market sentiment is further supported by increased trading volume during the breakout and consolidation phases.As of early Tuesday morning, Shiba Inu was trading at $0.000025, reflecting a slight decline over the past 24 hours and week. Despite this recent dip, the cryptocurrency has experienced a substantial 47.72% increase in value over the past month. Community sentiment on CoinMarketCap remains largely positive, with 89% of users expressing bullish views on SHIB's future, indicating strong underlying support and belief in its long-term potential.Shiba Inu currently holds a market capitalization of $14.83 billion and a circulating supply of 589.51 trillion SHIB, maintaining its status as a significant player in the cryptocurrency market. While the recent price decline suggests potential market volatility, the overall bullish sentiment and technical indicators point towards a promising outlook for Shiba Inu. Readers are advised to conduct their research and consult with financial advisers before making investment decisions. This article is for informational purposes only and should not be considered financial advice.
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Dogecoin Options Reach Record High Amid Market Speculation

According to Decrypt, open interest on Dogecoin options reached an unprecedented $4 billion over the weekend, marking a new high for the popular meme coin. Data from CoinGlass revealed that on Saturday, crypto futures traders had $4.06 billion in bets on Dogecoin. However, by Monday, this figure had decreased to $3.6 billion. A significant portion of these traders are betting on a future decline in the asset's price, with $1.9 billion in short contracts awaiting expiration. Open interest refers to the total number of unsettled contracts in the market.In the derivatives markets, traders speculate on the future price movements of cryptocurrencies like Dogecoin (DOGE). Earlier this month, following Donald Trump's presidential election victory, open interest in Dogecoin approached a record $2.75 billion. The surge in bets on Saturday followed a rapid increase in the asset's price on Friday, driven by news that Tesla CEO Elon Musk plans to introduce payments on his social media platform, X (formerly Twitter). Musk has previously expressed interest in using Dogecoin for payments on the platform.Interest in Dogecoin has grown significantly this year, partly due to Musk's renewed discussions about the meme coin. He even named a government agency D.O.G.E.—the Department of Governmental Efficiency—and will lead it alongside billionaire Vivek Ramaswamy when President-elect Donald Trump assumes office in January. Musk, a vocal supporter of Donald Trump, has long favored DOGE, often causing price surges with his endorsements. Originally created as a joke, Dogecoin now commands substantial trading activity and is the seventh-largest digital asset by market capitalization. It has inspired numerous copycat coins and a thriving meme coin market, known for its volatility.Currently, Dogecoin is priced at just over $0.39, reflecting a nearly 9% decline over the past day. Despite this, the coin has surged over 185% in the past month, according to CoinGecko.
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Study Reveals Risks of Meme Coin Promotions by Influencers

According to ShibDaily, a recent study by CoinWire has highlighted the potential dangers associated with meme coin promotions by influencers on X, formerly known as Twitter. The research analyzed over 1,500 meme coins promoted by 377 influencers with at least 10,000 followers over the past three months. The findings reveal a significant disconnect between the hype generated by influencers and the actual performance of these tokens, raising concerns about the risks posed to investors.The study found that 76% of the influencers promoted tokens that are now considered 'dead,' having lost at least 90% of their value. This means that two out of every three meme coins endorsed by these influencers have become virtually worthless, resulting in substantial financial losses for investors. The rapid decline of these tokens is evident, with 80% losing 70% of their value within a week, 90% declining by 80% after a month, and 86% plummeting by 90% within three months.Despite the promises of significant returns, the data from CoinWire indicates that achieving a tenfold increase in investment is rare. Only 1% of the influencers studied promoted a meme coin that reached a 10x gain, and merely 3% of the promoted meme coins achieved this milestone. This highlights the gap between the potential returns touted by influencers and the actual outcomes experienced by most investors.The study also discovered a correlation between the size of an influencer's following and the performance of the promoted meme coins. Influencers with larger followings, over 200,000, tended to promote the worst-performing tokens, which suffered an average of 89% negative returns after three months. In contrast, smaller influencers, with under 50,000 followers, had slightly better results, suggesting more genuine promotional practices, though still risky. This disparity may be attributed to larger influencers being more likely to accept paid promotions without thorough due diligence.CoinWire's analysis, using TweetHunter’s Twitter earnings calculator, estimates that influencers earn an average of $399 per promotional tweet, with each tweet reaching approximately 15,000 views. This financial incentive creates a conflict of interest, encouraging influencers to promote speculative and risky tokens. The study utilized Dune Analytics to track meme coin price performance, defining a 'dead' meme coin as one losing at least 90% of its initial value. The researchers acknowledge limitations in tracking deleted tweets. Readers are advised to conduct their own research and consult with a financial adviser before making investment decisions.
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Memecoin News: BONK Surges 16% to Record Highs Amid Token Burn and Growing Demand

According to CoinDesk: BONK, the Solana-based dog-themed token, surged 16% in the past 24 hours, recording $2.6 billion in trading volumes. It led memecoin trading on Coinbase with $384 million, surpassing other popular tokens like Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE).Traders attribute BONK’s recent performance to its low unit bias, strong demand on Coinbase, and active community trading. These factors, combined with deflationary token burns, are positioning BONK for further growth in the competitive memecoin landscape.Technical Analysis Suggests Further Upside for BONKTechnical chart data indicates that BONK has broken out from a consolidation pattern, showing a triple bottom against the SOL/USD pair. This bullish pattern, characterized by three equal lows followed by a breakout above resistance, has traders optimistic.“A triple bottom on BONK charts signals upside potential,” said Bonk core contributor @iamkadense in an X post. SOL’s recent outperformance is also driving attention to BONK as a beta play within the broader Solana ecosystem.BONK’s Token Burn Initiative Drives ScarcityThe BonkDAO community has accelerated token burn activities, permanently removing tokens from circulation to increase scarcity. As of November, 7.7 trillion BONK tokens have been burned, with a target of an additional trillion tokens by December.Burns are conducted through applications within the Solana ecosystem that use BONK for various features. Recent burns include bets placed on Dragontail, Christmas card transactions via BONKmark, and trades executed on LiveBonk.“Yesterday, BONKbot burned 2 billion BONK, and 100 billion tokens have already been removed from circulation,” Bonk contributor @iamkadense noted.BONK’s Undervaluation Sparks Trader OptimismWith a current market cap of $3.6 billion, traders view BONK as significantly undervalued compared to DOGE and SHIB, which reached market caps of $90 billion and $43 billion, respectively, during previous retail trading manias.“The low market cap and strong community support give BONK plenty of room to grow,” said trader @theunipcs, who famously turned a $16,000 investment into $18 million on BONK.BONK’s Role in the Solana Ecosystem and Memecoin RevivalCreated in December 2022 by developers in the Solana ecosystem, BONK has gained traction through viral marketing, community enthusiasm, and its integration with Solana-based applications. Its recent surge coincides with fresh Bitcoin highs and renewed interest in memecoins following listings on exchanges like Coinbase and Robinhood.As BONK sets record highs with robust trading volumes and ambitious token burn initiatives, traders remain optimistic about its potential for further growth. With a strong community, integration into the Solana ecosystem, and increasing investor attention, BONK continues to lead the memecoin revival.
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