On-chain data reveals that Dogecoin (DOGE) whales have been actively increasing their holdings as the meme coin’s price has dipped over the past 24 hours. Whales, who hold between 1 million and 10 million DOGE, have significantly expanded their positions during this period.
Significant Accumulation Observed
Analyst Ali Martinez highlighted on X that these large investors have been net accumulators in the last 24 hours. The “Supply Distribution” metric supports this observation, indicating that substantial amounts of DOGE are being retained by large wallet holders.
Increased Holdings Despite Price Decline
The group holding between 1 million and 10 million DOGE has increased its holdings, suggesting these investors are purchasing more DOGE despite the recent price drop. Over the last 24 hours, these whales have added over 60 million DOGE to their portfolios, equating to around $7.1 million. Although this figure is not exceptionally high, the ongoing buying despite the price pullback suggests a positive outlook among these major holders.
Price Trends and Whale Activity
Dogecoin’s price recently peaked above $0.127 but has retraced to $0.119. The buying activity from whales during this downturn could indicate a bullish sentiment, with these investors potentially taking advantage of the price dip.
Shiba Shootout: A Promising New ICO
The cryptocurrency market’s recent bounce has spotlighted Shiba Shootout (SHIBASHOOT), a new ICO gaining traction. This project has piqued the interest of investors, particularly those affected by Dogecoin’s recent decline.
Exciting Features of Shiba Shootout
High Staking Rewards
Shiba Shootout offers an impressive 1,500% annualized staking reward, making it highly attractive for investors seeking passive income.
Gaming Integration
The project features a mobile game where players can earn SHIBASHOOT tokens, blending entertainment with earning potential.
Diverse Ecosystem Features
The Shiba Shootout ecosystem includes Cactus Staking with high APYs and Lucky Lasso Lotteries, providing various engagement and earning opportunities.
Strong Community and Referral Program
The project emphasizes building a robust community through strategic engagement and a transparent roadmap. It also includes a referral program to broaden its user base.
Governance Token Plans
Future plans involve introducing a governance token, enabling holders to participate in project decision-making.
Staking Rewards at a Glance
Shiba Shootout’s staking reward system is a major draw, offering a staggering 1,500% annualized return. This feature attracts both short-term and long-term investors. As more participants stake their tokens, rewards are distributed more widely, enhancing fairness. Conversely, fewer stakers could lead to higher reward rates, incentivizing early adopters.
Presale Success and Future Prospects
The presale phase of Shiba Shootout has raised nearly $670,000, reflecting strong investor confidence. The clear goals and milestones outlined in the project’s roadmap contribute to its transparency and trustworthiness.
Potential for Significant Growth
Shiba Shootout’s innovative staking and gaming integration sets it apart, with its gamified approach driving demand for SHIBASHOOT tokens. The project’s successful presale and strong community support further bolster its credibility.
Future enhancements, such as updates to the mobile game and the introduction of a governance token, are expected to increase the token’s utility and market appeal. With favorable market conditions and strategic execution, Shiba Shootout could see substantial growth and attract significant interest.
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