Altcoin
Solana Whale Stakes $15M SOL Amid $4.5B SOL Meme Coin Panic
A Solana whale caused a market stir on Wednesday by heavily accumulating coins for staking purposes despite the ongoing meme coin panic on the network. On-chain data flagged that the whale withdrew 87K SOL, worth $14.8 million, for staking whilst the crypto’s price traded around the $169 level. In turn, traders and investors speculate whether the leading altcoin could regain a break above $200 after losing nearly 15% since last week amid a $4.5 billion SOL meme coin insider trading saga.
Solana Whale Stakes $15M SOL Sparking Speculations
According to an X post by Lookonchain as of February 19, a Solana whale ‘Guf5kl’ withdrew a staggering 87,328 SOL ($14.8 million) over the past few days from Binance to stake it. This decision by the large-scale investor underscored strong confidence in the network, sparking contrary speculations amid rising meme coin scandals on the network.
Notably, Solana recently encountered severe scrutiny despite offering a highly efficient and scalable environment for token launches, particularly in the case of meme tokens. The launch of the Argentinian president-backed meme coin LIBRA soon fell from grace alike other Solana meme coins including TRUMP and MELANIA. This has triggered severe concerns among market participants despite the massive staking.
$4.5B Insider Trading Saga
As per a CoinGape report, LIBRA token’s $4.5 billion insider trader chronicle has sent shockwaves across the Layer 1 network. Argentinian President Javier Milei endorsed the coin last week, which propelled the coin’s market cap to hit a $4.5 billion evaluation. However, this saga soon proved to be the catalyst for insider trading, as nearly 82% of the meme coin was owned by only a few investors.
Further, the token’s team also drained the liquidity pool, whereas $107 million was cashed out by a sniper, pulling the meme coin down to a massive crash. Intriguingly, speculations of links between MELANIA and LIBRA meme coin crashes also prevailed, CoinGape reported. Overall, the rising meme coin scandals on the Solana network, incurring user losses, echoed concerns for SOL price amid rising concerns.
SOL Price Reacts
At the time of reporting, SOL price showcased a sideways trading session in the past 24 hours and exchanged hands at $171.16. The coin’s intraday bottom and high were $161.31 and $171.34, respectively. Traders and investors remain cautious over future price movements despite the Solana whale’s colossal staking due to broader trends and recent network-related developments.
Notably, SOL lost nearly 15% since February 15 to date, extending losses since a day after the new meme coin’s launch on the network. Further, SOL’s waning action is also attributable to plunging network activity, per another CoinGape report. In turn, the current scenario for the layer 1 crypto remains highly uncertain, with macro heat further urging investors to be cautious.
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.
XRP price is gaining momentum as the U.S. Securities and Exchange Commission (SEC) has officially posted Grayscale’s XRP exchange-traded fund (ETF) filing to the Federal Register.
This move marks the beginning of a 240-day review period, during which the agency will decide whether to approve or reject the application.
Grayscale’s XRP ETF Filing Under SEC Review
The SEC’s review process for Grayscale’s proposed XRP ETF formally started after its posting on the Federal Register. The agency now has until October 18, 2025, to make a decision. The process includes a 21-day public comment period, allowing stakeholders to submit feedback.
Afterward, the SEC will analyze the proposal and assess market risks, investor protections, and compliance with securities laws.
XRP’s legal classification remains a key factor in the ETF’s approval amid speculations of a Ripple vs SEC lawsuit pause. The SEC has previously sued Ripple Labs over whether XRP should be classified as a security, and the case remains unresolved. The regulator has generally been more cautious with altcoin ETFs compared to Bitcoin ETFs, citing concerns over market manipulation.
XRP Price To Breach $3 Resistance
XRP’s price has reacted positively to the ETF developments, with traders anticipating a potential breakout. The token is currently testing key resistance levels, with analysts watching for a move beyond $3.00. Some believe that clearing this level could signal a larger rally.
Crypto traders have shared insights on XRP’s price movement. “XRP continues to hold inside a corrective channel, which is typical for a Wave 4,” CasiTrades posted on X projecting an all-time high looming. Another trader, Dark Defender, suggested that the XRP price could move toward $2.77 before testing $3.
Market sentiment has also been influenced by speculation about major financial institutions using XRP for transactions. Reports suggest that Bank of America may be leveraging XRP for internal payments, though no official confirmation has been provided.
US SEC’s Stance on Crypto Regulation
The SEC has been reviewing multiple XRP ETF applications alongside Grayscale’s filing. On February 19, the agency acknowledged applications from asset managers CoinShares, Canary, and WisdomTree. These applications were submitted through exchanges like Nasdaq and Cboe BZX.
The SEC’s approach to crypto regulation has come under scrutiny in recent months. Under the current administration, the agency temporarily paused its lawsuit against Binance, leading some analysts to believe that regulatory pressure on crypto firms may ease. Consequently, investors are hopeful that this shift could work in Ripple’s favor which may boost XRP price to a new ATH.
President Donald Trump’s administration has been viewed as more crypto-friendly, and his recent social media activity has fueled optimism. He shared an article discussing Ripple Labs’ expansion in the U.S., which noted that XRP saw a price surge following the 2024 presidential election.
XRP ETF Approval Odds
The chances of an XRP ETF approval have risen on Polymarket, where betting odds currently stand at 81%. Concurrently, Brazil recently became the first country to approve an XRP spot ETF, adding to the growing demand for institutional investment in the asset which may push the XRP price to a new ATH.
Despite the optimism, some analysts urge caution. Azura CEO Jackson Denka noted that XRP has historically experienced rapid price increases followed by steep declines.
“Until we see real adoption and actual progress of their blockchain, it is hard to make the claim that this price is sustainable,” Denka said.
Kelvin Munene Murithi
Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.
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.
Shiba Inu price has recently broken out of a Falling Wedge pattern, a formation commonly recognized as a bullish reversal signal in technical analysis. The pattern is characterized by a downward consolidation with lower highs and lower lows, which eventually leads to a meme coin rally breakout.
Shiba Inu Price Breaks Out of Falling Wedge Formation
According to analyst Bezos Crypto, Shiba Inu price has completed a breakout from a Falling Wedge, a pattern associated with strong upward movements. This formation often indicates a trend reversal, with SHIB price action shifting from a downtrend to an uptrend. In previous instances, similar setups have led to substantial gains for SHIB, fueling optimism among traders and investors.
The breakout is accompanied by a noticeable increase in trading volume, suggesting strong participation from investors. Volume confirmation is a crucial aspect of validating the meme coin rally, as it indicates growing buying interest. If Shiba Inu price maintains its momentum, it could reach the projected price target of $0.00008841, reflecting a 422% increase.
Meanwhile, most recently, SHIB whales have triggered volatility by offloading 2.1 trillion tokens, adding uncertainty to price action. The sudden transaction, valued at $32.55 million, has raised concerns over potential selling pressure.
Bitcoin’s Influence on SHIB and Technical Analysis
More so, Bitcoin price trend, plays a crucial role in determining the trajectory of Shiba Inu price. Historically, altcoins such as SHIB have exhibited strong price movements during Bitcoin’s bullish phases. When Bitcoin consolidates or trends higher, altcoins often benefit from increased market liquidity and positive sentiment.
Similarly, technical indicators further support the bullish outlook, with key metrics pointing toward potential meme coin rally. Awesome Oscillator (AO) analysis shows a shift in momentum, as the histogram bars have transitioned from red to green, indicating a possible trend reversal. AO, which measures market momentum, suggests that selling pressure is fading, and buyers are beginning to gain control.
More so, Moving Average Convergence Divergence (MACD) indicator provides bullish confirmation, as the MACD line has crossed above the signal line, forming a bullish crossover. This crossover is a key signal that momentum is shifting toward buyers, increasing the likelihood of a sustained uptrend.
Additionally, the histogram bars, which represent the difference between the MACD and signal lines, have turned green, reinforcing the strengthening bullish sentiment. If this trend continues, it could indicate a strong upward movement in SHIB price to a new all-time high.
Risk Considerations Ahead of The Meme Coin Rally
While the bullish scenario for Shiba Inu price remains strong, traders remain cautious about potential volatility. Price movements in the cryptocurrency market can be influenced by external factors, including regulatory news, and shifts in investor sentiment. A retracement or a retest of the breakout zone is possible before further upside continuation.
Key resistance levels to monitor include $0.000030, $0.000050, and the previous all-time high near $0.00008841. On the downside, support levels at $0.000020 and $0.000015 could act as critical zones if a pullback occurs.
Moreover, a recent report highlighted that top meme coins like DOGE, SHIB, PEPE, and FLOKI risk declines due to a sharp drop in futures open interest. The data reveals that SHIB’s futures OI fell by 74.41%, while DOGE saw a 58.45% decline, signaling weakening trader confidence.
Ronny Mugendi
Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.
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.
Litecoin (LTC) price has showcased an interesting bearish trend after a positive early start to the week. For Litecoin, bears are derailing its growth, suffering a rejection as it attempted to break the resistance level at $130. From the current outlook, Litecoin is the only coin in the top 20 with a negative price action.
Litecoin Price Trend: The Reversal
At the time of writing, LTC price was changing hands for $128.70, down 4.60% in 24 hours. Amid its erratic price action, the coin traded from a low of $126.31 to a high of $136.59. From this daily high figure, LTC has maintained a steady slump before maintaining balance at the current level.
It is not unusual for Litecoin to face roadblocks at the $130 level. In the past 7 days, the coin has only managed to breach this level twice, and each time, it is often accompanied by a sharp drop within 24 hours. The sentiment around Litecoin is high, a trend that suggests the latest drop is a momentary cool-off.
The Bitcoin fork has permanently maintained a positive outlook in the past year. LTC price is up 5.91% in the past 30 days and has maintained a 43.43% surge over the past 3 months. The Year-to-Date (YTD) gain comes in at 22.43%. In an earlier LTC price analysis, the coin jumped over 70% as the broader market suffered intense liquidation.
Litecoin Technicals Shows Rebound is Imminent
The solo Litecoin price reversal creates a new opportunity for the coin. With trading volume dropping by 28.74%, the odds appeared stacked against LTC. However, that ironically sets the coin up for a massive rebound.
The LTC/USDT 4h chart flashes a Relative Strength Index (RSI) of 56, above the neutral range. The coin’s price also trades above the 50-day Moving Average, indicating it is still better off at its current level.
Litecoin’s profitability remains high at over 74%, with approximately 56.75 million LTC in profit. This implies that there is no urgent reason to sell off, proving that the current drawdown came from short-term traders selling.
The Litecoin ETF Advantage
Amid the ongoing selloff, the LTC investors remain optimistic that the coin’s price will sustain its current growth outlook. The potential approval of a spot Litecoin ETF product by the US SEC has fueled its over 5% rally over the past month.
According to earlier reports, Bloomberg ETF Senior Analysts Eric Balchunas and James Seyffart issued 90% approval odds for LTC ETF, which is higher than any of its rivals. This projection, backed by Polymarket forecasts, has helped validate the Litecoin price rally and future outlook.
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.
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