5 hours ago
TL:DR; Investors with lots of conviction for certain assets tend to utilize deep corrections to stack more of those coins, and this seems to be the case in regards to the two of the largest cryptocurrencies – DOGE and XRP. On-chain data shows that large wallets poured millions into both during the recent market meltdown. The market-wide crash that began in the middle of the business week caught many by surprise, given the billions of dollars worth of liquidations that were evident on a couple of occasions. All crypto assets headed south vigorously, with BTC leading the way by plummeting from over $108,000 on Tuesday to $92,000 on Friday. As it typically happens, the altcoins were not sparred, just the opposite. Dogecoin and Ripple were among the worst-performing assets at one point. The largest meme coin stood north of $0.41 before the correction began but dumped by over 35% to its low on Friday of $0.26. XRP’s price plummet was almost identical as the asset came crashing down from $2.72 on Tuesday to $1.96 – a 28% drop. However, both have bounced off since those lows, with DOGE trading close to $0.34 (30% higher) and XRP at $2.3 ( up by 17% ). On-chain data shared by the popular crypto analyst Ali Martinez shows that whales tracking both assets didn’t sit on the sideline but actually went on an accumulation spree. In Ripple’s case, they stacked up on 80 million tokens since the retracement began on December 17. Whales bought 80 million $XRP since the price correction began on December 17! pic.twitter.com/nakUKEIzYC — Ali (@ali_charts) December 20, 2024 Dogecoin whales also opened up their wallets by accumulating over 250 million DOGE. Such big purchases tend to positively impact the underlying assets’ prices due to the declining immediate sell pressure. Whales bought over 250 million #Dogecoin $DOGE during the recent market dip! pic.twitter.com/qH7JSkkdhK — Ali (@ali_charts) December 21, 2024 The post Ripple, Dogecoin Whales Bought the Dip as XRP, DOGE Prices Soar appeared first on CryptoPotato .
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Crypto Bits Crypto News DOGEBTC DOGEUSD XRPBTC XRPUSD Dogecoin Ripple (XRP) Price Whale
Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of BitMaden. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.
Bitcoin and Ethereum ETFs Witness Significant Outflows Totaling $352.1M on December 20, 2024
Bitcoin and Ethereum ETFs Experience Net Outflows of $277.0M and $75.1M Respectively on December 20, 2024 ————— ????Coin: Bitcoin ( $BTC ) $97,481.30 Ethereum ( $ETH ) $3,388.72 ————— NFA. Crypto Potato
Electric Elon Musk (ELECMUSK) Solana Memecoin to Explode 18,000% Before Exchange Listings, While SHIB and DOGE Lag
Electric Elon Musk could turn early investors into multi-millionaires, like Shiba Inu (SHIB) and Dogecoin (DOGE) did. Electric Elon Musk (ELECMUSK), a new Solana memecoin that was launched today, is set to explode over 18,000% in price in the coming days. This is because ELECMUSK is set to soon be listed on numerous crypto exchanges, according to reports. This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up. Currently, Electric Elon Musk can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early investors stand to make huge returns in the coming days. Early investors in SHIB and DOGE made astronomical returns, and Electric Elon Musk could become the next viral memecoin. Electric Elon Musk launched with over $9,000 of liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains. How to Buy To buy Electric Elon Musk on Raydium.io or Jup.ag ahead of the CEX listings, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Electric Elon Musk by entering its contract address – GLb1x7V9aav8iRjsxgG5UXdxLdk7YkrkcnKYByr542UD – in the receiving field. If you don’t have one of these wallets already, you can create a new wallet in a few minutes and transfer some Solana to it (which will then be used to buy the memecoin), from an exchange like Coinbase, Binance and many others. In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price. If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner. The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum. This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like ELECMUSK. Such memecoins have no utility and no inherent value, but investors looking for high gains have been investing in them due to their potential to rapidly rise in price. Crypto Potato
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