Today, as of January 27, 2025, while there is a serious decline in the cryptocurrency market, the large transactions made by the whales of Shiba Inu (SHIB) and Dogecoin (DOGE), two well-established meme coins, attract attention.
Purchase of 257.5 billion SHIB from meme coin whale
Shiba Inu continues to attract whales’ attention despite the market decline. According to on-chain analysis platform Lookonchain, a SHIB whale purchased another 257.5 billion SHIB tokens. This purchase is worth approximately $4.6 million and brings the whale’s total SHIB holdings to 477.5 billion tokens ($8.57 million). Analysts say this move represents a strong belief in SHIB’s future potential. It is generally known that whales strengthen their positions before the rise by buying during price declines. With this movement, SHIB’s transaction volume increased by 228.97% and reached 567.49 million dollars. However, SHIB price is trading at $0.0000182, down 8.82% in the last 24 hours.
Dogecoin is also in the focus of investors
On the other hand, Dogecoin attracts the attention of investors despite the harsh selling pressure in the market. According to the Whale Alert platform, a DOGE whale transferred 175.27 million DOGE to an unknown wallet. However, a total of $72 million worth of DOGE outflows occurred from the exchanges in the last 48 hours. DOGE is currently trading at $0.32 and has lost 9.14% in the last 24 hours. However, the fact that the transaction volume increased by 180% in the same period shows that investors considered this decline as an opportunity. Additionally, DOGE’s Long/Short ratio was recorded as 1.15, indicating that bullish expectations prevail in the market.
Large purchases by SHIB and DOGE whales demonstrate long-term confidence in cryptocurrencies despite the market decline. These moves raise the expectations of not only whales but also other investors for a market recovery. While the SHIB community eagerly awaits the anticipated announcement from lead developer Shytoshi Kusama, DOGE investors are also hoping for the price to rise again. Time will tell what will happen in the future.
