Shiba Inu One Of The Most-Traded Tokens By Whales, Data Shows.

On-chain data suggests that large investors have been showing interest in Shiba Inu recently as they have been moving a high number of SHIB transfers.

Shiba Inu Large Transactions Have Been High In Number Recently

As pointed out by an analyst in an X post using data from the market intelligence platform Into TheBlock, the Shiba Inu whales have been on the move over the past month.

The on-chain indicator of interest here is the “Number of Large Transactions,” which tracks the total number of transfers on any cryptocurrency network exceeding $100,000 in value.

Generally, only the whale entities are capable of making such large transfers, so the Number of Large Transactions may be considered to reflect the activity of these giants.

When the value of this metric is high, it means that the asset is observing a large number of large moves currently. Such a trend may be a sign that the whales are actively interested in cryptocurrency right now.

On the other hand, the indicator being low could suggest the whales are looking at other markets at the moment as they aren't making many transactions for the asset.

Now, here is a chart that shows the trend in this indicator for Shiba Inu over the last month or so:

As the above graph shows, the number of large transactions for Shiba Inu has shown relatively high values at different points in the past month and has also appeared to be climbing during the last few days.

The lower chart shows the data for another metric, the "Large Transactions Volume." This indicator measures the total volume of transactions greater than $100,000 combined moving on the network every day.

It would appear that while the number of transfers happening on the network right now is similar to that seen during the spike earlier in the month, the volume back then was notably larger.

This would naturally suggest that the whale transfers currently taking place aren't of the same scale. Nonetheless, the metric isn't at particularly low levels, either.

SHIB and DOGE Prices React to Elon Musk Paying Tribute to Kabosu.

Entrepreneur Elon Musk has paid tribute to Kabosu, the Shiba Inu dog behind the Dogecoin meme that passed away earlier today.

A picture posted by the controversial centibillionaire shows the Harambe gorilla with angel wings hugging the legendary dog among clouds that emanate an ethereal glow.

Musk said that Doge has "ascended to heaven" so that it could be together with its "friend" Harambe.

The price of Dogecoin (DOGE) spiked more than 4% after Musk posted the image on his profile before paring some gains. Meanwhile, rival meme coin Shiba Inu (SHIB) added nearly 3%, but the gains were rather short-lived as well.

Kabosu passed away at age 19 on Friday. Atsuko Sato, the owner, said that the world-famous Shiba Inu dog had "crossed the rainbow bridge" without suffering.

Shortly after being adopted by Sato in 2008, Kabuso turned into a social media star in 2010 because of one photo that inspired the Doge meme.

The memes with ungrammatical phrases and the cute Shiba Inu dog led to the creation of the Dogecoin cryptocurrency in 2013. The meme coin exploded in popularity in 2021 after it was actively promoted by Musk.

Joining Prince and David Bowie.

Harambe the gorilla captured the hearts and minds of the online community in 2016. The western lowland gorilla was shot dead by a zoo worker after he grabbed a three-year-old boy who climbed into his enclosure.

The dead gorilla quickly eventually turned into the main meme of the year, becoming part of the collective online psyche with hashtags like #JusticeForHarambe. Prior to Musk's picture, Harambe was also part of other weird tributes. It was featured alongside photos of such cultural icons as David Bowie and Prince.

In May 2021, a photo of the gorilla was auctioned as a non-fungible token.

XRP Skyrockets 108% in Volume Amid $400 Million Crypto Market Sell-off.

In a noteworthy development, XRP has seen a staggering 108% increase in trading volume amid a broader $400 million sell- off on the cryptocurrency market. Data from CoinMarketCap indicates that XRP's trading volume more than doubled, rising by 108% compared to the previous day.

This surge in trading volume comes at a decisive time in the digital asset space, as investors react to a mix of news both within and outside the crypto market.

The past 24 hours have been noteworthy for the crypto market. Following much speculation, the U.S. Securities and Exchange Commission (SEC) approved eight spot Ethereum ETFs to be listed on their respective exchanges. Coinbase also reopened XRP trading in New York, to the delight of the XRP community.

Coinbase's chief legal officer, Paul Grewal, said yesterday that customers in New York could once again trade XRP on the crypto exchange.

Grewal wrote in a social media post: "XRP trading on Coinbase is available again in NY. We heard you and put in the work in strong partnership with the State. And now the word can be put out- we are back up."

This news remains significant given that Coinbase is the largest crypto exchange contributing to XRP volumes after Binance.

However, the crypto market posted an unexpected reaction to the recent news, with the market currently experiencing a sell-off, with roughly $400 million in crypto liquidations. Bitcoin and Ethereum, as well as several other cryptocurrencies such as XRP, are down in price.

At the time of writing, XRP was down 0.32% in the last 24 hours to $0.526, according to CoinMarketCap data. XRP trading volume increased by 104% during the same time frame, totaling $2.316 billion.

Along with the increased trading volume, XRP's price has shown relative stability in the face of a broader market downturn. While many cryptocurrencies have seen significant price drops, XRP is depicting lesser losses, suggesting strong support levels and investor confidence.

Bitcoin Faces Selling Pressure After Reaching All-Time High.

Bitcoin's price (BTC) began to consolidate after reaching an all-time high of $73,750 and faced selling pressure following its recent surge. This pressure caused Bitcoin's price to fall below the $67,500 threshold, potentially pushing it below $67,000. A significant factor for this pullback is the decline in Bitcoin's market dominance, indicating that market participants are shifting their focus from Bitcoin to altcoins.

Bitcoin's Market Dominance Signals Decline.

Bitcoin's market dominance was moving within a rising wedge formation and recently reached an annual high of over 55%. However, Bitcoin's slow price movement seems to have driven investors to explore other investment options. As a result, Bitcoin's market dominance fell below key support levels along the rising trend line.

Additionally, Bitcoin's Relative Strength
Index (RSI) shows a formation of
consecutive lower highs and lower lows,
supporting a bearish outlook and signaling
a potential altcoin season as the altcoin
market's value begins to rise.

Altcoins' total market capitalization chart indicates a parabolic recovery approaching the neckline of the curve. Levels rebounded from the lower support of the rising wedge, suggesting a significant bullish move might be near. Currently around $1.11 trillion, the total market cap of altcoins needs to enter and surpass the key resistance zone between $1.21 trillion and $1.26 trillion to start a new bullish phase.

The RSI for the total market cap of altcoins signaled strong bullish indicators, potentially triggering a bullish recovery before reaching average levels. If the total market cap of altcoins surpasses this key resistance zone, an altcoin season could begin, potentially driving the market cap rapidly above $2 trillion.

Kabosu, Face of Dogecoin (DOGE) Meme, Passes Away.

Kabosu, the Shiba Inu dog that became the face of Dogecoin and an iconic meme figure, passed away in Japan at the age of 19. Her owner, Atsuko Sato, reported the sad news, marking the end of an era for both the meme community and cryptocurrency enthusiasts worldwide.

Kabosu gained internet fame in 2010 when photos of her went viral, leading to the creation of the "Doge" meme. This meme, characterized by Kabosu's expressive face and humorous captions in broken English, quickly spread across the internet, becoming a cultural phenomenon. In 2013, Kabosu's image was adopted as the mascot for DOGE, a new cryptocurrency initially started as a joke but that soon grew into a serious player on the crypto market.

Dogecoin's official X account paid tribute to Kabosu, highlighting her immeasurable impact on the world. They noted that she was a symbol of happiness and love, whose spirit touched and shaped many lives globally.

Since its launch over a decade ago, Dogecoin (DOGE) has achieved significant milestones, becoming the eighth largest cryptocurrency with a market capitalization of $22.85 billion and a daily turnover in the billions. The popularity and success of Dogecoin can be largely attributed to Kabosu's endearing presence on its logo, which captured the hearts of many.

Dogecoin's influence extended beyond just being a meme. Kabosu played a crucial role in uniting a diverse community of cryptocurrency enthusiasts. Without her, the landscape of meme-based cryptocurrencies, a sector now worth $58 billion, might not exist.

DTCC Lists Blackrock's Spot Ethereum ETF.

BlackRock's spot Ethereum exchange- traded fund (ETF) has been listed by the Depository Trust and Clearing Corporation under the ETHA ticker.

On Thursday, the U.S. Securities and Exchange Commission greenlit 19b-4 forms from several Ethereum ETFs from such issuers as BlackRock, Fidelity, VanEck, and other firms.

the SEC was widely expected to shoot down these funds just a week ago. However, the agency made a last-minute U-turn in a truly shocking move.

Now that the SEC has approved 19b-4s listing requests, it is now engaging with potential issuers over S-1 registration statements.

For Ethereum ETFs to begin trading, each corresponding S - 1 registration statement is also approved. Hence, it is now clear when these ETFs will actually start trading.

"This does not mean they will begin trading tomorrow. This is just 19b-4 approval. Also needs to be an approval on the S-1 documents which is going to take time. We're expecting it to take a couple weeks but could take longer. Should know more within a week or so!" James Seyffart said on the X social media network.

Sell the news?

After experiencing a massive rally, the ETH price has now pared some gains, currently trading at $3,629 on the Bitstamp exchange. Prominent trader John Bollinger recently warned that Ethereum's rally was overextended.

Shiba Inu (SHIB) Torches 12 Million Tokens Amid 867% Burn Rate Jump.

Shiba Inu (SHIB) is changing its growth strategies amid the broader uncertainty and twists of the market. Amid a slip in its price, Shiba Inu has seen a visible uptick in its deflationary metric, the burn rate. At the time of writing, the burn rate is up by 867.78% with a total of 12,688,018 SHIB sent to dead wallets.

By dollar valuation, the 12 million SHIB burnt might be small, however, it marks a story of consistency within the meme coin community. Consistency like this is deemed a pivotal key to achieving its goals of deflating the supply of the digital currency.

The latest SHIB removed from circulation
has fueled the drop in the total Shiba Inu
incinerated to date to 12,688,018 SHIB
tokens. Additionally, the Shiba Inu left in
circulation is now pegged at
583,076,408,841,878 SHIB, showing a
steady growth in deflation overall.

The burnt SHIB has several implications for the meme coin, with the ultimate endgame being its contribution to the token's price growth. However, at the time of writing, Shiba Inu is in a bearish or reverse mode with a 6.57% slump in 24 hours to $0.0000238 despite a surge in netflow. This negative growth trend aligns with general market sentiment despite derailing SHIB's growth toward the $0.00003 price mark.

With this turn of events, market observers are keen on seeing where the latest burn rate will crest and whether or not it can influence the price performance of the token moving forward. It is worth noting that the presence of ShibaSwap is increasing the odds of a transaction boom as well as an increase in the total tokens sent to the burn address.

Shiba Inu has continued to maintain optimism regarding its prospects to hit 1 cent. The community is hopeful that Shibarium, staking potential and the incoming burn portal will contribute to this milestone.

Toncoin (TON) Price Prediction for May 23.

TON/USD.

The price of Toncoin (TON) has dropped by 0.3% over the last day.

On the hourly chart, the rate of TON is near the support level of $6.20.

If buyers cannot seize the initiative until the end of the day, the accumulated energy might be enough for a breakout, followed by a move to the $6-$6.10 zone.

On the daily time frame, the price has come back to the support level of $6.2063. If it breaks out, traders may expect an ongoing decline to the $5.8-$6 area by the end of the month.

From the midterm point of view, one should pay attention to the vital zone of $6. If the fall to it continues, there is a chance to see a test of $5.50 shortly.

TON is trading at $6.275 at press time.

Solana (SOL) Price Prediction for May 23.

SOL/USD.

The price of Solana (SOL) has declined by 5.22% over the last 24 hours.

On the hourly chart, the rate of SOL is looking bearish as it is trading near the local support of $171.24.

If the situation does not change by the end of the day, the breakout may lead to a further drop to the $165 zone.

On the bigger time frame, there are no reversal signals yet. If buyers lose the $170 area, there is a chance to see a test of $160-$165 by the end of the week.

From the midterm point of view, the weekly bar is about to close far from its peak, which is a bearish signal. If that happens, traders may expect a test of the nearest support level of $160 soon.

SOL is trading at $172.26 at press time.

Bernstein Predicts Ethereum to $6,600, But There's a Catch.

Ethereum (ETH) is in the spotlight at the moment amid the growing hype surrounding spot ETF approval. Diving into the growing sentiment around Ethereum, Bernstein Analyst Gautam Chhugani has predicted that the price of the coin is on track to retest and surpass its all-time high (ATH).

Bullish cash for Ethereum.

At the time of writing, the price of Ethereum is changing hands for $3778.37, up by 2.75% in 24 hours. The coin jumped as high as $3,943.55 in the past 24 hours as it looks to retest its major psychological level of around $4,000.

According to the analyst, Ethereum is
primed for a 75% rally from its current level
if the spot ETH ETF product is finally
approved by the United States Securities
and Exchange Commission (SEC). Per his best-case projection, he foresees the price of the coin jumping as high as $6,600 in the near term.

Chhugani is optimistic that the price of Ethereum can mirror that of Bitcoin, which soared to a new ATH following the approval of its associated spot ETF product in January. Should the regulator approve the spot Ethereum ETF, there will be a massive inflow of capital into the market, helping to crunch the coin's supply on exchanges.

Current data already suggests that the Ethereum exchange volume is at its three- year low of 13.7 million ETH. If the shortage in Ethereum's supply meets the demand that might accompany the spot Ether ETF product, the upside is massive for the coin's price.

Historic moment for Ethereum.

Despite being recognized as the second- largest digital currency by market capitalization, the quest for a spot Ethereum ETF has been largely a wild goose chase until this week. With VanEck's application set for a decision today, Ethereum might join Bitcoin in making history if approval is finally given for the product.

Ethereum ICO Whale Hits Major US Exchange Ahead of ETF Decision.

As revealed thanks to data from Whale Alert, a previously dormant Ethereum whale has transferred 86 ETH, valued at $325,535, to major U.S. crypto exchange Coinbase.

This whale, identified by the wallet address "0xCc60," had originally acquired Ethereum during the Genesis Block as a participant in the ICO, where the token was valued at just $0.31. Now this volume of tokens equals $325,160 and the price of Ethereum stands at $3,850.

This substantial transaction coincides with heightened anticipation surrounding the imminent Ethereum ETF decision. Over the past few days, optimism for a favorable outcome has surged, driving Ethereum's price up by more than 23% since the beginning of the week.

Analysts are now estimating a 75% chance that the SEC will approve the Ethereum ETF, further fueled by the agency's recent engagement with Ethereum issuers on Form S-1, a registration statement for securities. Additionally, a bipartisan group of lawmakers has urged SEC Chair Gary Gensler to approve spot Ethereum ETFs, adding political pressure to the regulatory decision.

The whale's transfer could be interpreted as a strategic move to capitalize on the market conditions or a simple reassurance from the holder.

However, this whale is not the only significant player making moves. Jeffrey Wilcke, one of Ethereum's cofounders, has sent 10,000 ETH, valued at approximately $37.4 million, to U.S. exchange Kraken.
This transaction is part of a series of large transfers by Wilcke, who has moved a total of 24,300 ETH since the start of 2024, amounting to roughly $75 million.

Dogecoin (DOGE) Whale Transactions Skyrocket to $3 Billion.

In a dramatic turn of events, large-scale transactions of Dogecoin (DOGE) have witnessed an unprecedented surge, totaling over $3 billion in value within just 24 hours. Data from Into TheBlock reveals that transactions exceeding $100,000 in value spiked from $1.53 billion to an astounding $3.111 billion during this period.

This surge not only highlights a substantial increase in the volume of DOGE being moved but also indicates heightened activity among cryptocurrency whales, who are known for their ability to influence market trends. It shows the bullish momentum prevailing on the Dogecoin market in recent days.

The surge in large transactions coincides with recent speculation surrounding the approval of a spot Ethereum exchange- traded fund (ETF), which has sparked renewed interest in the broader cryptocurrency market. This speculation has led to increased trading activity across multiple digital assets, with Dogecoin emerging as a significant focal point due to its established market presence and high liquidity.

Dogecoin in spotlight.

Dogecoin, initially created as a meme-inspired cryptocurrency, has garnered significant attention in recent years, propelled by endorsements from high- profile figures and its widespread adoption as a digital payment method. Despite its unconventional origins, DOGE has emerged as a prominent player on the cryptocurrency landscape, attracting both retail and institutional investors.

The surge in whale transactions underscores the evolving dynamics within the cryptocurrency market, where large- scale movements can significantly impact prices and market sentiment. Investors and analysts are closely monitoring these developments, as the spotlight remains on Dogecoin and its role in shaping the future of digital currencies.

As the cryptocurrency market continues to mature, the significance of whale activity in influencing market trends cannot be overstated.

Shiba Inu (SHIB) 485% Netflow Surge Takes
Intriguing Twist: Details.

Dog-themed cryptocurrency Shiba Inu (SHIB) has triggered a staggering 485% netflow spike on a seven-day basis, albeit a negative one, which adds an intriguing twist to the positive narrative.

However, in the last 24 hours, Shiba Inu has marked positive netflows, soaring from -97.45 billion SHIB to 379.61 billion SHIB.

The Large Holders Netflow Indicator from I nto TheBlock gives information about whale position changes. Positive netflow spikes might be interpreted as accumulation from large holders, while decreases point to reduced positions or selling.

Regardless of the implications, a surge in netflow might signal whale activity.

The rise in netflow at this moment remains significant as SHIB approaches a critical juncture in its price that might impact its short-term trajectory.

The cryptocurrency market has been closely watching Shiba Inu as it fights to keep its price above the daily Simple Moving Average (SMA) 50, a key barrier that has restrained its upward movement since mid-April.

For SHIB, the SMA 50 has acted as a resistance level, capping its price in a range and preventing a bullish breakout. Since mid-April, SHIB has attempted to breach this level multiple times, only to be driven back down, indicating market hesitation.

However, recent developments indicate a shift in the tide. SHIB's price has now pierced through the daily SMA 50 barrier, signaling a potential shift in momentum.

Market sentiment has also played a crucial role in SHIB's recent price action. Positive news regarding the progress toward the approval of U.S. Ethereum spot ETFs has contributed to a more optimistic outlook for cryptocurrencies, including SHIB. This sentiment reversal has provided the necessary impetus for SHIB to challenge and surpass the SMA 50.

As SHIB trades above the daily SMA 50, currently at $0.00002467, the market is watching to see if it can sustain this. A steady hold above the SMA 50 could pave the way for further recovery and potentially usher in a new bullish trend for SHIB.

Enormous 5.7 Trillion Shiba Inu (SHIB) in 24 Hours: What's Happening?

Shiba Inu clearly seeing surge of transactional activity on current market, but there's still an issue.

According to Shiba Inu's on-chain data, large transactions recorded have increased to 341 in the last 24 hours from 82 transactions at the week's low, implying a large increase in investors. The total volume of these large transactions amounts to 5.7 trillion SHIB, having reached the seven-day high of 8.97 trillion SHIB on May 16, 2024.

There are a few reasons that this increased activity in big transactions may be taking place. Expectations over some major price action might have caused whales to reposition. Other than that, it could be strategic portfolio adjustments, new partnerships or ecosystem developments within the Shiba Inu project that have not been announced yet.

According to the SHIB price chart, Shiba Inu is trading within an uptrend channel pattern, with the current price level at about $0.00002550. The 50-day exponential moving average is supporting the price, and the 200-day exponential moving average is closing in below the current price, indicating a generally medium- to long-term bullish trend.

The Bollinger Bands are slightly expanding, indicating that volatility is starting to pick up and could very soon bring more substantial price moves. The Relative Strength Index stands at 54.79, showing that SHIB has not been oversold or overbought, hence, there could be a potential upward move.

One way or another, the most likely reason behind the surge is lying beneath the upcoming surge of large transfers. Whales have the means to access pieces of information and resources that normal traders do not have, thus positioning themselves in anticipation of changes on the market. By doing so, the rise in activity on SHIB can be taken as an indication of their confidence about potential future gains from putting money into Shiba Inu.

Ancient Dogecoin Whale Returns After 10.4 Years: What Did They Do Next?

An ancient Dogecoin (DOGE) whale has reappeared on the cryptocurrency market after more than a decade hiatus, attracting a lot of attention from the community. According to Whale Alert, this whale, which owns an impressive 893,303 DOGE, valued at approximately $145,101, has initiated transactions for the first time since May 2014.

The activation of this dormant account was triggered by the transfer of 23,338 DOGE, almost $4,000, to the world's largest cryptocurrency exchange, Binance. The move has sparked considerable speculation about the potential implications for the market, given the historical impact of similar events.

For instance, the awakening of the oldest holders of cryptocurrencies has often led to changes on the market, as has been the case in past cases with participants in early ICOs, especially in Ethereum.

The general consensus and expectation is that these crypto market participants often sell their holdings to take profits after a long period of inactivity. A recent transfer on Binance supports this view, suggesting that the whale may be preparing to liquidate some of its assets.

Despite this significant transfer, this whale
still owns over 869,964 DOGE, worth about $141,101. This significant stake continues
to hang over the market, raising questions about future transactions and their
potential influence on Dogecoin's price.

While insignificant for market impact, the very nature of its actions may signal a shift in sentiment among "strong hands."

This resurgence coincides with Dogecoin's recent rally, which has solidified its position as the eighth largest cryptocurrency by market capitalization. Each DOGE token currently has a value of $24.13 billion and a price of $0.167.

Mysterious 240 Million XRP Transfer: Where Did It Go?

In a striking development within the cryptocurrency market, an unusual transfer of 240 million XRP tokens was executed from the Coincheck exchange to an unknown wallet. This significant movement has sparked interest and speculation in the crypto community.

Crypto data tracker Whale Alert reports, "240,850,537 XRP worth $127,054,365 was transferred from Coincheck to unknown wallet."

This recent withdrawal of the massive amount of XRP tokens, valued at approximately $127 million, was directed to an unknown address, which was activated in February.

The destination wallet "UQ2Eh" continuously receives XRP transfers from Coincheck, indicating a solid relationship with the exchange. The reasons behind this transfer and the identity of the wallet owner remain unknown, adding to the mystery surrounding the transaction.

While the exact motives remain speculative, several potential reasons for the transfer have emerged: the transfer may have been made on behalf of an institutional investor.

Institutions frequently transfer substantial amounts of cryptocurrency to cold storage wallets for security reasons or to represent a long-term holding strategy.

Additionally, Coincheck may be transferring assets as part of enhanced security measures. After a major security incident in 2018, Coincheck has prioritized security, and moving funds to more secure storage solutions may be part of sustained efforts to safeguard assets.

Third, the large transfer might be linked to an OTC trade, where substantial amounts of cryptocurrency are exchanged directly between parties.

Whether this move signals institutional interest, enhanced security measures, or upcoming strategic announcements, might suggest interest in XRP and the broader cryptocurrency market.

At the time of writing, XRP was down 0.60% in the last 24 hours to $0.529.

Shiba Inu (SHIB) Breakout Fails, Here's What Comes Next.

Shiba Inu (SHIB) has suffered a bearish breakdown after it failed to sustain its price growth in the past 24 hours. At the time of writing, Shiba Inu is down by 1.68% in 24 hours to $0.00002553. The SHIB breakdown is all-encompassing, with the 30-day slip hitting 4.44% as the token hovers from a low of $0.00002071 to a high of $0.00002796.

With the breakdown of Shiba Inu, other metrics also contributed to the plunge. The 24-hour trading volume is down by 49.39% to $625,802,833. At its peak this week, the traded volume soared as high as $1 billion in a single day.

With the derailment in the price of Shiba Inu on its way to the $0.00003 mark, the market may be allowed to run its course. This means that Shiba Inu might court the sell-off to the point that the Relative Strength Index (RSI), Bollinger Bands and other key trend change indicators will signal a reversal.

The Shiba Inu whales might also contribute to deciding what comes next. Should whale investors sustain intensity in accumulation, the supply crunch of SHIB becomes more pronounced, fueling any likely surge in price.

The dynamic nature of Shiba Inu has placed it at the forefront of the deflationary trend. With millions of Shiba Inu burnt on a daily basis, the meme coin project is setting itself on track for a rally in the long term. As a token with excessive supply, one unique way Shiba Inu anticipates its valuation can soar in the long term, besides the burning of its tokens, is to drive utility within its ecosystem.

The protocol is doing this with the launch of Shibarium, its Ethereum layer-2 scaling solution. Amid all these fundamentals, SHIB aims to sustain the support level around $0.000025 while aiming to reclaim the $0.00003 level in the midterm.

DOGE Price Prediction for May 22.

DOGE/USD.

The rate of DOGE has fallen by 2% since yesterday.

On the hourly chart, the price of DOGE is rising after setting a local support level of $0.1617. If growth continues, one can expect a test of $0.17 by tomorrow.

On the daily time frame, the rate of the meme coin has made a false breakout of yesterday's peak of $0.173. However, the candle is about to close far from its boundaries.

In this case, sideways trading in the zone of $0.165-$0.17 is the more likely scenario.

From the midterm point of view, the picture is more positive. If the weekly bar closes near or above the $0.17 level, the accumulated energy might be enough for a breakout, followed by a move to the $0.18 area.

DOGE is trading at $0.1659 at press time.

#MemeWatch2024

DOGE Skyrockets 100% in Whale Transactions Amid Dogecoin ETF Rumors.

Dogecoin (DOGE), the famous meme- inspired cryptocurrency, is experiencing a surge in large transactions in the last 24 hours, indicating potential activity from major investors, or "whales."

According to data from Into TheBlock, the total value of these large transactions, exceeding $100,000, nearly doubled in the past 24 hours, jumping from $1.53 billion to a staggering $3.01 billion. This translates to a significant rise in the volume of DOGE being moved by these whales, from 9.74 billion to 17.97 billion coins.

This surge in whale activity coincides with growing speculation about a potential Dogecoin ETF. The recent optimism surrounding the Ethereum ETF has fueled rumors that DOGE could be next in line for its own regulated investment vehicle.

Why is Dogecoin ETF possible?

Dogecoin appears to have several factors working in its favor for ETF approval. Unlike some other cryptocurrencies, DOGE is not suspected of being a security, its futures are already approved by the U.S. Commodity Futures Trading Commission (CFTC) and it boasts a healthy market capitalization of $24 billion, ranking it as the eighth largest cryptocurrency.

Interestingly, Billy Markus, one of the creators behind Dogecoin under the pseudonym Shibetoshi Nakamoto, has even chimed in on the ETF rumor with a lighthearted "amusing" remark.

Whether fueled by these rumors or not, the recent surge in whale transactions suggests heightened interest in DOGE, and investors are watching closely to see if this translates to a price increase.

#MemeWatch2024

Cardano (ADA) Price Prediction for May 22.

ADA/USD.

The rate of Cardano (ADA) has declined by 4.79% over the last day.

On the hourly chart, the price of ADA might have set a local support level of $0.4746. However, there are low chances to expect any sharp moves by the end of the day, as most of the ATR has been passed.

In this case, sideways trading around the $0.48 mark is the most likely scenario.

On the bigger time frame, the fall continues after yesterday's bearish closure. At the moment, there are no reversal signals yet, which means the drop may lead to the test of $0.46 shortly.

From the midterm point of view, the price of ADA has bounced off the $0.50 zone. However, buyers still have time until the end of the week to seize the initiative. If they manage to do that, growth may continue to the resistance of $0.5225.

ADA is trading at $0.484 at press time.