Altcoin
Shiba Inu Large Transaction Volumes Crashes 35% To 1.41 Trillion SHIB, Is Fatigue Setting In?
Shiba Inu’s large transaction volume currently paints a bearish picture for the second-largest meme coin by market cap, have recorded a significant crash. This has raised concerns that the whales may be losing confidence in the meme coin’s potential, a development that could impact SHIB’s future trajectory significantly.
Shiba Inu’s Large Transaction Volume Crashes 35%
IntoTheBlock data shows that Shiba Inu’s large transaction volume has crashed by 35%, with 1.41 trillion SHIB traded in the last 24 hours as against the 2.19 trillion SHIB traded the previous day. This also represents a significant drop from the 7-day high of 4.35 trillion SHIB, which was traded on February 7.
This development is significant as it suggests that fatigue may be setting in for SHIB whales, who are reducing the rate at which they accumulate Shiba Inu. This paints a bearish picture for the meme coin, considering how these whales impact the price action. Moreover, buyer fatigue could cause SHIB to lose crucial support levels as sell pressure overwhelms the meme coin.
Besides the drop in large transaction volumes, ‘Net Network Growth’ is another on-chain metric that paints a bearish picture for Shiba Inu. There has been a drop in the rate at which new users adopt the meme coin, which is bearish for SHIB’s price. A lack of new investors means there is less room for the meme coin to grow.
It is also worth mentioning that 52% of Shiba Inu holders are currently out of the money, which is also bearish for the meme coin. SHIB could face a wave of sell-offs from these holders as they look to cut their losses.
Shiba Inu has underperformed since the start of the year, which is undoubtedly a cause for concern for these holders. The meme coin currently boasts a year-to-date (YTD) loss of over 22% and has been one of the coins greatly impacted by this market downtrend.
SHIB’s Big Move Still In Play
Crypto analyst Javon Marks confirmed that a big move is still in play for Shiba Inu. In an X post, he stated that SHIB looks to be setting up in a large inverse Head and Shoulders pattern and can be finishing up its final shoulder now before putting on a notable performance. The analyst predicted that SHIB could enjoy a rally of over 399% and run to the $0.000081 target.
Meanwhile, crypto analyst Shib Spain remarked that Shiba Inu is about to bounce hard, indicating that a bullish reversal was on the horizon. His accompanying chart showed that SHIB could rally to $0.000036 as it makes this recovery.
At the time of writing, the Shiba Inu price is trading at around $0.00001656, up over 6% in the last 24 hours, according to data from CoinMarketCap.
Featured image from Unsplash, chart from Tradingview.com
American asset management company Canary Capital has taken a new leap with a new filing for a staked Tron ETF product. Known as the pioneer of some of the most renowned altcoin ETF products, this new Tron ETF has further placed the firm at the forefront of the exchange-traded fund drive.
The Canary Capital Staked Tron ETF
According to the prospectus released by the firm, the new product is dubbed the Canary Staked TRX ETF. The firm is yet to reveal the trading platform the product will trade on, however, it confirms it will provide exposure to the price of Tron.
Based on the pricing data offered by Coindesk Indices, Canary Capital said it will rely on this to establish the Net Asset Value (NAV) for the product. This latest filing comes barely a month after the asset manager filed for Pengu ETF with the US Securities and Exchange Commission (SEC).
This is a breaking news, please check back for updates!!!
Godfrey Benjamin
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.
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.
Based on historical data, July could be the next bullish month for the XRP price, which continues to consolidate amid this crypto market downtrend. Despite the market downturn, crypto analysts like CasiTrades are confident that the altcoin could still reach a new all-time high (ATH) in this market cycle.
Historical Data Points To July Being The Next Bullish Month For The XRP Price
Cryptorank data shows that July could be the next bullish month for the XRP price. This is based on the fact that the altcoin has recorded significant gains in each of the last five Julys.
Unlike July, April to June have been mixed for XRP over the last five years. For April, the last three out of five months have been bearish for the altcoin, although it recorded a 174% gain in April 2021.
For May, three out of the last five months have been bearish for the XRP price, although it recorded meagre gains in May 2023 and 2024. Meanwhile, June has been completely bearish for the altcoin, as it recorded monthly losses in the last five months.
It is worth mentioning that four out of the five monthly gains for XRP in July have been double-digit gains. As such, Ripple’s native crypto could again record double-digit gains this coming July.
Interestingly, crypto analyst Egrag Crypto predicted that XRP could reach double digits by its July 21 cycle peak. He alluded to the altcoin’s previous bull runs as to why July could mark this cycle’s peak. The analyst believes the Ripple price could reach $27 by then.
Analysts Argue XRP’s Consolidation Could End Soon
Amid this historical data, crypto analysts Dark Defender and CasiTrades have suggested that the XRP price consolidation could end soon. In an X post, Dark Defender stated that the altcoin’s consolidation is nearing an end and that he believes this is the final consolidation of the monthly structure.
Once this consolidation is done, the crypto analyst remarked that market participants can expect the Wave 5, which will send Ripple’s native crypto to new highs. He highlighted $2.22 and $2.30 as the major resistances to watch out for, while $1.88 and $1.63 are the major support levels. Meanwhile, the targets on this Wave 5 up are $3.75 and $5.85, which will mark a new ATH for the altcoin.
As CoinGape reported, crypto analyst CasiTrades also predicted that the XRP price could soon reach $6 as Wave 2 correction nears its end. The analyst also raised the possibility of the altcoin rallying to as high as $9.50 and $12 if it reaches the 2.618 and 3.618 Fibonacci extension levels, respectively.
However, there is still the possibility of the XRP price dropping below the $2 level before it rallies to new highs. Egrag Crypto warned that Ripple’s native crypto could still drop to as low as $1.4 in the event of a major liquidation.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several topics and niches. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover, a traveler and a part-time degen.
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.
The ETH price’s bearish sentiment since January 2025 has taken a toll on investor confidence, with Ethereum ETFs witnessing significant outflows. As ETH’s value continues to plummet, investors increasingly withdraw their funds. With Ethereum exchange-traded funds recording a massive $32 million in weekly outflows, analysts caution against a potential downtrend.
As Ethereum lingers below the $2,000 mark for weeks, market experts and traders are bracing for a potential further decline to $1,100. Let’s dive deeper into the reasons behind the significant outflows from Ethereum ETFs and its potential impact on ETH price.
Ethereum ETFs Record $32M Weekly Outflows: What’s Happening?
According to SoSoValue, Ethereum ETFs experienced increasing outflows over the past week, driven by the overarching negative market trend. Last week, the ETFs saw a total net outflow of $32.17 million, pushing the month’s outflows to $170.99 million.
In addition, the Ethereum exchange-traded funds experienced an unusual day of neutral flows yesterday, with neither net inflows nor outflows reported. Analyst Ali Martinez shed light on the increasing whale activity over the past week. According to his X post, ETH whales have offloaded 143,000 tokens last week.
Significantly, this negative sentiment could be attributed to the ETH price’s bearish trend which began in January. Ethereum, which stood high-headed above $3,500 at the onset of 2025, started plummeting to reach a severe low of $1,500 in April. This steady downtrend has caused a stir in the market, with traders showing less interest towards the altcoin.
Is ETH Price Poised for a Crash?
Growing pessimism surrounding Ethereum ETFs has led analysts to warn the community that ETH’s price may extend its downward trajectory. For instance, analyst Altcoin Gordon shared a bearish forecast for ETH price, predicting that the token would further drop to $1,100. However, as per CoinGape’s Ethereum price prediction, ETH could destabilize around a minimum of $1,588 in 2025.
Ethereum market share nears all-time lows as bearish chart signals potential $ETH price drop to $1,100 👀 pic.twitter.com/NKr45vB4V5
— Gordon (@AltcoinGordon) April 15, 2025
As of press time, ETH is valued at $1,592, down by a marginal 0.20% in a day. Despite a 2.3% surge over the past seven days, ETH has seen a massive dip of 21% in a month. This negative vibe is also reflected on the traders’ sentiment, with the 24-hour trading volume decreasing by 23% to reach $10.5 billion.
Significantly, the Ethereum transaction fees’ recent crash to a five-year low has also contributed to the overall bearish sentiment.
Ethereum Bulls Remain Optimistic
Despite these bearish predictions and negative Ethereum ETF trend, bulls remain optimistic about the ETH price. Analysts like Crypto Rover and CryptoGoos shared their bullish outlooks on Ethereum, invoking investors’ enthusiasm.
According to CryptoGoos, ETH is expected to repeat history to surge beyond $2,800 in the near future. Meanwhile, market expert Crypto Rover projected the ETH price’s potential journey to an ambitious $10,000. However, it needs to be seen whether ETH can break through its current resistance levels and achieve these lofty targets.
Nynu V Jamal
Nynu V Jamal is a passionate crypto journalist with three years of experience in blockchain, web3, and fintech spheres. She has established herself as a knowledgeable and engaging voice in the cryptocurrency and blockchain space. Her experience as an Assistant Professor in English Language and Literature has further added to her quest for crafting informative, well-researched, and accessible content.
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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