Shiba Inu ecosystem saw heavy blockchain activity as 2 whales bought $35.2 million SHIB.
Analysts share the expectation of a 4X price pump leading to $10 DOGE price.
SHIB and DOGE are high contenders to see massive price pump this crypto bull cycle.
Memecoin legends Shiba Inu (SHIB) and Dogecoin (DOGE) catch the eyes of the crypto market this morning. While SHIB saw massive whale activity, DOGE gained traction over new insights for possible 4X in price value.
In detail, Shiba Inu (SHIB) transitions showcases 9 wallets held by two whales that just completed massive SHIB purchases. Specifically, these whales spent $35.2 million to buy 1,356 trillion SHIB at an average price of $0.00002596.
What a crazy buy!9 wallets(2 whales) spent $35.2M to buy 1.356T $SHIB at an average price of $0.00002596 in the past 12 hours!Address:0xFB67EF6fE609edAb1e0595e6815634E8E4db9cF70xb2f1956eAE0817dB73C4D542A4861eE485B7e7c60x607C26c976272459A0896065E03a9b70C0Ef04B5… pic.twitter.com/yfSUyFSLQy
— Lookonchain (@lookonchain) June 5, 2024
Responses to these transactions seem interested by this monumentally huge SHIB buy. While some are disappointed that there was no massive price spike caused by the big buy, others contemplate if this is a possible SHIB ETF move by a major entity like BlackRock.
Meanwhile, others view this as a sign that SHIB price could explode in the near future. The golden phase of the crypto bull cycle is yet to arrive and many memecoins and altcoins are expected to pump drastically.
Despite a low price pump, the SHIB ecosystem did go up in terms of daily transactions. In particular, SHIB daily transactions hit $135 million where the transactions surged by 99%. This is likely because the ecosystem exceeded the burn rate by 10,000% two days ago.
As for Dogecoin (DOGE), one analyst shares their DOGE price action observations and price prediction saying DOGE price could see a 4x to new all-time highs. He also adds that the DOGE price could exceed expectations this cycle.
$DOGE (Dogecoin) – The trend says a more than 4X to New All Time Highs and perhaps much, much greater!According to this breakout trend, a >$10 DOGE may be on the way… https://t.co/eVpDwynejx pic.twitter.com/dChytYPZo3
— JAVON MARKS (@JavonTM1) June 5, 2024
Many popular faces in the crypto community have been advocating for an epic DOGE price pump this crypto bull cycle. DOGE is known as the king of memes and many believe it will not miss the bull run. So much so, that the price of DOGE could even hit $10.
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The post SHIB Sees Massive Whale Activity While Analyst Predicts 4X Price Pump for DOGE Leading to $10 DOGE Price appeared first on Crypto News Land.
