The 2 largest meme coin projects by market cap are witnessing an increasing number of whale transactions. The biggest whales in different nets are turning to dog-themed cryptos. Binance whales are also in this investor class.
Meme coin projects see whales interest, large transactions up 68%
Dogecoin whales have taken action in the last 24 hours, according to IntoTheBlock data. Large transaction fluctuations are typically associated with increased activity of whales buying or selling. Now, the position these trades are holding is more than $100,000. The WhaleStats report shows that Dogecoin is now among the top 10 most purchased altcoins among the top 100, 500 and 2,000 BSC whales in the last 24 hours.
As we previously reported as Kriptokoin.com, Kraken is preparing to open Dogecoin futures. Trading started today, June 20. At the time of writing, Dogecoin was on the rise, accompanied by whale purchases. It has gained 5.31% in the last 24 hours and 10.84% since last week. Elon Musk’s tweet on Father’s Day was relatively effective in this rise…
Elon Musk signals ‘maybe it’s just the beginning’ for post-sale Dogecoin
Dogecoin rose as much as 8% after Elon Musk announced on Twitter that he would “continue to support Dogecoin.” Musk also stated that he bought meme coins. However, this tweet of Elon Musk comes on the days when he is facing a “Dogecoin Ponzi Case”. Elon Musk is facing a $258 billion lawsuit over his speculative tweets about Dogecoin. It seems that the legal process was not enough to stop Musk. Among the meme coin projects that have started to attract attention again lately, the Dogecoin imitation is located in Shiba.
Shiba Inu ranks second among Ethereum whales
The number of Shiba Inu investors has seen tremendous growth in recent months. According to WhaleStats data, the Shiba Inu is currently the most HODL among the top 100 Ethereum whales after USDC. According to data provided by the blockchain data tracker, the 100 largest ETH whales currently hold Shiba Inu worth $423,180,380. Circle’s stablecoin, USDC, is worth 18.08%, or $491,815,225.
Last week, the percentage of Shiba’s long-term investors was 19%. This percentage has continued to rise, now rising to 21%. Shiba is responding to these trades with a slight bullish response. On the other hand, activities continue unabated to reduce the near-infinite supply.
95 million SHIB burned in the last 24 hours, meme coin community working
According to Shibburn data, 83,335,225 SHIBs have been burned in nine transactions in the last 24 hours. Meanwhile, the Shiba Inu team posted an update on their latest blog post as Shibarium prepares for a possible launch.
Shibarium is a second layer solution developed by xFUND and Shiba Inu developers, where BONE is set as the “gas” of the Shibarium Protocol. This “gas” provides the core functionality for smart contracts and transactions to be processed and executed.
BONE, Shiba Inu’s ecosystem token, currently has a fixed supply of 250 million. The community is now about to decide whether to stop BONE farming or increase the maximum supply from 250 million to 270 million once the 230 million supply is met.
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