💥💥💥 #shibaInu And #Dogecoin Flip On-Chain Signals Following Massive #whale 🐳🐳🐳 Interest! Here’s What To Expect Next
Shiba Inu and Dogecoin have surged recently due to increased attention from crypto whales, coinciding with GameStop's rally on Monday. Legendary trader "Roaring Kitty's" return to X and a series of tweets further fueled the rally, resulting in significant gains. Analysts suggest that robust purchases in meme coins could reinforce support levels, potentially triggering strong upward rallies.
Whales have made significant bets on SHIB and DOGE, with liquidations totaling approximately $5.6 million and $550K, respectively. Around 80% of Dogecoin addresses are profitable, while 60% of Shiba Inu's total addresses are in profit.
Data indicates a surge in whale interest for DOGE, from $1.1 billion to $1.6 billion, and a substantial increase in Shiba Inu's whale transactions, jumping from $9 million to over $223 million.
#Dogecoin has been fluctuating between the 50-day SMA at $0.16 and a horizontal support at $0.12, currently trading at $0.146. Investors aim to maintain the price above the 20-day EMA at $0.15, potentially propelling it towards the 50-day SMA or the resistance zone between $0.21 to $0.23. A close below $0.12 could lead to a bearish head-and-shoulders pattern, pushing it down to $0.08.
Shiba Inu dipped below the $0.000023 support level but buyers defended against further decline, with the price at $0.0000233. Bulls aim to uphold the 20-day EMA at $0.0000234, facing resistance at the downtrend line. A decline from this line could lead to a drop towards the 61.8% Fibonacci retracement level at $0.00002, potentially extending to $0.0000185. Alternatively, surpassing the downtrend line could signal a climb towards the resistance level at $0.000032.
Source - blockchainreporter.net
