Recently, Dogecoin (DOGE) and Shiba Inu (SHIB) have been experiencing price fluctuations after major investor transactions. These memecoins have seen significantly large transactions recently, and market metrics highlight the impacts of these investor activities on DOGE and SHIB.
Specifically, according to Whale Alert data, it was stated that 400 million DOGE (worth $50 million) was transferred from Robinhood to an unknown wallet. Similarly, around 2.7 billion SHIB (worth $48.3 million) was transferred to another unknown wallet on the Ethereum blockchain. Such large transactions often reflect the liquidity management or asset repositioning strategies of large investors, which can significantly affect market prices.
Price Movements of SHIB and DOGE$SHIB
Following these large investor transactions, SHIB price increased by 6.73% from $0.00001703 to a peak of $0.00002018, but this rise could not be sustained and the price corrected back to $0.00001775. DOGE experienced similar volatility. Before the big investor transaction, DOGE was at $0.11797, and after the transaction, it increased by 9.98% to $0.12958. These rapid rises and corrections reflect the high volatility and speculative nature that is especially prevalent in memecoins.
Upon further inspection, many transfers exceeding 528 million DOGE were observed on the Dogecoin blockchain, exhibiting a complex entry-exit pattern. This may indicate the possibility of large investors managing strategic liquidity or repositioning their assets in response to market conditions.
According to the DOGE Liquidation Map analyzed by COINOTAG, as the DOGE price approached the $0.1266 level, there were significant liquidations in both long and short positions. This shows how risky leveraged transactions are in the volatile crypto market and that large price movements can cause a liquidation wave.$DOGE
For SHIB, long-short ratio data was examined to gauge market sentiment. While the rate was 0.82%, the majority of investors (55.03%) held long positions. However, the fluctuation in the rate does not provide a clear market trend for Shiba Inu, reflecting relatively balanced sentiment among investors. This uncertainty may reflect the broader context of the crypto market, which is particularly under the influence of large investor activity and speculative trading.
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