The cryptocurrency market is witnessing notable movements as significant transfers occur. As per Whale Alert data, a notable transaction involved 2.7 trillion SHIB, valued at approximately $48.34 million, being transferred from Robinhood to an unidentified wallet.
Similarly, 400 million DOGE, worth around $50.34 million, also moved from Robinhood to an unknown address. These transactions have sparked curiosity and speculation about the potential impacts on the market for these cryptocurrencies.
Dogecoin has experienced a notable price surge, trading at $0.1274, reflecting a 5.55% increase over the past 24 hours. This price growth is underscored by a significant rise in trading volume, which stands at $770.72 million, a 15.05% increase from previous levels.
This uptick in volume signals robust market activity and strong buying interest. The current market capitalization of Dogecoin is $18.5 billion, positioning it at rank 8 among cryptocurrencies.
XRP on the Move: Analyst Predicts 2025 Topping Targets Amid Whale ActivitySupport for Dogecoin is anchored around $0.1207, a critical level where recent price movements suggest a strong buying floor. Conversely, resistance is observed near the current price level of $0.1275.
This level has proven challenging to breach, highlighting a potential barrier for further upward movement. The combination of rising trading volume and recent price action indicates a bullish trend, provided that the price can hold above the resistance level.
In contrast, Shiba Inu has shown a different pattern. The token’s price has risen by 3.52% to reach $0.00001801 over the last day. Despite this increase, the 24-hour trading volume has dropped significantly by 62.40%, now at $503.28 million. This decline in volume suggests reduced trading activity, which could influence the price trend moving forward.
Support for Shiba Inu is evident around $0.00001739, the lowest price point of the past day. A secondary support level is at $0.00001750, indicating buying interest at this price.
Resistance levels include the current price at $0.00001800 and a higher range of $0.00001810 to $0.00001815. Sustaining trade above these resistance levels could signal a continuation of the bullish trend.
Shiba Inu’s 1-day RSI stands at 50.48, which indicates a balanced market sentiment. The 1-day MACD for Shiba Inu, reading -0.00000013 and trading above the signal line, suggests a possible bullish trend in the short term.
Considering Dogecoin, the 1-day Relative Strength Index (RSI) for the token reads 57.62, indicating that the cryptocurrency is neither overbought nor oversold. The 1-day Moving Average Convergence Divergence (MACD) is trading above the signal line, suggesting a potential bullish trend in the short term.
