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Ethereum Price Surge to $4,000 Delayed After ETH Whale Dump?
Just as Ethereum price has been showing strength above $3,500 levels, selling by Ethereum whales picked up once again. The heavy ETH offloading to exchanges by whales has caught investors’ attention on whether the profit-booking begins even before reaching $4,000. Notably, Ethereum co-founder Jeffrey Wilcke also dumped a staggering 20,000 ETH worth $72.5 million.
Ethereum Price Breakout to $4000 Faces Headwinds
Popular crypto analyst Rekt Capital shows the latest ETH attempt to breach the crucial $3,700 resistance. The analyst added that Ethereum price needs a strong weekly close above this level to confirm a breakout. Only after this, ETH Price rally to $4,000 and beyond can continue.
Rekt Capital described the recent ETH price action as a “picture-perfect rejection” from the resistance, emphasizing that Ethereum is not ready to break out just yet.
Another popular analyst CrediBULL Crypto points out a critical resistance level in the ETH/BTC pairing. With the recent upward momentum, this pair is approaching the first “trouble area”. The analyst suggests that a rejection at this point, coupled with a potential 10% correction in Bitcoin, could push Ethereum price toward a significant buy zone between $2,700 and $2,800.
While long-term spot holders may opt to hold through this short-term volatility, CrediBULL emphasizes that traders should watch the $2,700-$2,800 range closely for potential entry opportunities.
One thing that brings some optimism is the rise of ETH’s funding rates. Funding rates, a crucial indicator of sentiment in the futures market, have seen a notable rise in recent weeks. This uptick signals growing bullish momentum among traders and investors as Ethereum’s price continues its upward trajectory.
ETH Whale Dumping on the Rise
Ethereum co-founder Jeffrey Wilcke made headlines today after transferring 20,000 ETH, valued at $72.5 million, to the Kraken exchange. The move coincided with an Ethereum price rally above $3,500.
This is the fourth major ETH transfer by the Ethereum co-founder this year in 2024. So far he has offloaded 44,300 ETH, worth approximately $148 million, at an average price of $3,342 per token. On the other hand, Ethereum co-founder Vitalik Buterin has been selling meme coins off-lately.
Furthermore, Spot on Chain reported that another significant Ethereum sale has been reported as Winslow Strong, director of the Qualia Research Institute, transferred 9,380 ETH, worth $33.7 million, to Coinbase just two hours ago.
This move follows a broader trend of liquidation by Strong, who has sold a total of 14,233 ETH, worth $48.8 million, since ETH price began its recovery in early November.
As of press time, ETH price is trading 1.27% down at $3,570 with a 32% drop in daily trading volumes moving under $30 billion. As per the Coinglass data, the 24-hour liquidation has shot up to $32 million, with $19 million in long liquidation and $13 million in short liquidation.
Bhushan Akolkar
Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Dogecoin News: A Dogecoin whale transaction has caught the attention of the crypto community, fueling speculation about a potential price rally. Over 1.1 billion DOGE, worth more than $445 million, were transferred across three transactions involving unknown wallets. Such large-scale movements often hint at accumulation by major investors, signaling bullish sentiment.
This development has reignited discussions about Dogecoin’s trajectory, with many questioning whether the token is positioning itself for a significant breakout. Speculation is growing that DOGE could soon edge closer to the long-anticipated $1 milestone.
Dogecoin News: Whale Transfers 1.1 Billion DOGE Tokens
A notable shift in Dogecoin’s market activity has occurred as a whale moved a staggering 1.1 billion DOGE tokens across three transactions, drawing significant attention from the crypto community. According to Whale Alert, the largest of these transfers involved a massive 500 million DOGE, valued at over $202 million.
Additionally, two smaller transfers of 300 million DOGE each, worth about $121 million, were also carried out. Such large-scale transfers by a single entity typically signal major movements within the market, often linked to accumulation by whales or institutional players.
🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 500,000,000 #DOGE (202,294,187 USD) transferred from unknown wallet to unknown wallethttps://t.co/ptPuiBe8ax
— Whale Alert (@whale_alert) November 29, 2024
This whale activity indicates that major investors might be positioning themselves for potential future gains. The scale of the transfers highlights significant interest in top meme coins, likely driven by expectations of an upward price movement. With these transfers, whales could be seeking to secure their positions before any anticipated bullish trends, which could drive demand in the market.
On-chain data from Blockchair data reveals the wallet currently holds 600 million DOGE, making it one of the top 20 largest Dogecoin holders. This accumulation trend, alongside recent high-value transfers, points to continued bullish sentiment within the Dogecoin ecosystem. The growing number of high-value transfers into personal wallets could be an indicator of a potential price surge, with whales strengthening their positions in anticipation of future market movements.
DOGE Price Trends and $1 Speculation
DOGE price is currently trading at $0.412, reflecting a 4% daily increase, 7% weekly growth, and a staggering 143% monthly surge. Its 24-hour trading volume stands at $4 billion, with a low of $0.3922 and a high of $0.4144. With a market cap of $61 billion, Dogecoin remains the seventh-largest cryptocurrency by market value.
Despite a 41% drop in derivative volume and a 58% decline in options volume reported by Coinglass, market sentiment remains strong. Some analysts believe DOGE could hit $1 in the near term, driven by sustained demand and market momentum. Notably, a popular crypto analyst has gone further, predicting DOGE price rise to $4.20 in the ongoing bull cycle, citing DOGE’s historic 500% rally since August.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
A major Shiba Inu whale has once again sparked noteworthy market intrigue as it was recorded heavily bagging the meme token on Friday. Notably, on-chain data showed that the trader significantly increased his holdings to $21.72 million worth of SHIB after one month of inactivity. In turn, market watchers anticipate further gains in SHIB price, primarily in light of the massive accumulation and a bullish Q4 for the crypto market.
Shiba Inu Whale Bags Heavily Indicating More Gains Imminent
As per on-chain data from Arkham Intelligence dated, November 29, a super Shiba Inu whale sacked 98.196 billion SHIB, worth $2.54 million, from the crypto exchange Coinone. Notably, per the data, the super whale address 0x9d9f.. was recorded as making huge transactions.
Meanwhile, the data also pointed out that this massive accumulation came following one month of inactivity by the address. It’s noteworthy that this holder has accumulated a whopping 83.63 million Shiba Inu tokens to date from the same crypto exchange since June of this year. The average price for the trader’s accumulation stands at $0.00001842.
Simultaneously, the latest on-chain data indicated that the trader held nearly $22 million worth of the dog-themed meme token. Overall, the massive accumulation has ignited a market frenzy, with investors anticipating further gains in the token’s price amid increased buying and market interest for the asset.
Will SHIB Price Hit $0.000037?
At the time of reporting, Shiba Inu price gained nearly 2% intraday and is trading at $0.00002595. The coin’s 24-hour low and high were $0.00002494 and $0.00002609, respectively. Notably, the weekly and monthly charts for the crypto indicated gains worth 5% and 39%, respectively. Overall, the meme coin surfs bullish tides mirroring market optimism, as seen by the abovementioned colossal buying.
It’s also worth mentioning that the crypto’s token burn mechanism appears to have bolstered the price movements. CoinGape Media reported that the SHIB burn rate soared phenomenally recently, adding to optimism about future movements.
Further, a Shiba Inu analysis by CoinGape Media has highlighted a $0.000037 price target for the token. This positive outlook primarily comes against the backdrop given BTC price hits $100,000 in this bull cycle. Besides, broader market sentiments remain bullish over future prices, with the bullish factors further indicating that a potential rally to $0.000037 for the coin may be imminent.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Ripple vs SEC: The US Securities and Exchange Commission (SEC) is likely to drop the appeal in the Ripple lawsuit. Former CFTC Chairman Chris Giancarlo and pro-XRP lawyers believe it’s “very plausible” that new SEC chair under the Trump administration will drop SEC v Ripple Labs lawsuit. It will also prove to be game changing for XRP.
Ripple vs SEC Lawsuit Nears Conclusion
FOX Business Charles Gasparino in an X post said he believes Donald Trump’s election as US President is proving game-changing for XRP. The post garnered massive buzz in the XRP Army, triggering bullish sentiment on Thanksgiving day.
In addition, Gasparino revealed that former CFTC Chairman Chris Giancarlo told him that the “new SEC will drop the appeal” against Ripple. The government agency has appealed the decisions on XRP sales by Ripple as well as executives Brad Garlinghouse and Chris Larsen as not securities. Meanwhile, the company has filed cross appeal whether investment contacts must have ‘essential rights and obligations.’
Pro-XRP Lawyers Bill Morgan, Fred Rispoli and Jeremy Hogan claimed that the appeals will likely get dismissed or withdrawn. Morgan in a post on November 29 added that the appeal would be dropped as Judge Torres made no error.
“The political motive for continuing a near hopeless appeal will largely disappear when its main internal SEC enabler Gary Gensler resigns on 20 January 25,” said Bill Morgan.
XRP Price Eyes Hitting $2 Soon
XRP army looks at least the $2 price rally amid SEC Chair Gary Gensler’s exit and Trump’s crypto policies. The Trump-Vance transition team has nominated pro-crypto leaders to lead government agencies. Paul Atkins is leading the race to become the next SEC chairman. Ripple CLO Stuart Alderoty is bullish on the move.
Another trip to $1.60 pic.twitter.com/1m7b039pSk
— bill morgan (@Belisarius2020) November 29, 2024
The price of XRP has rallied 200% amid the Trump trade. The price has hit $1.64 today, a new 3-year high. Trading volume is rising again as lawsuits are reaching near end.
As CoinGape reported first, US district court ruled in favor of Ripple and CEO Brad Garlinghouse in XRP lawsuit. The judge has now granted a motion to expedite judgment in the In re Ripple Labs Inc Litigation.
Varinder Singh
Varinder has over 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently leading the news team to cover latest updates and developments in the crypto industry.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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