Kraken Outflows Signal SHIB Accumulation Trend as Whales Withdraw 512B Tokens
In a significant market development, Shiba Inu whales have executed a massive accumulation strategy by withdrawing over 512 billion SHIB tokens from Kraken exchange, valued at approximately $7.14 million. This substantial movement represents a strategic shift from short-term trading to long-term holding patterns, as evidenced by the notable exchange outflows currently exceeding inflows. The reduced selling pressure from these whale activities creates favorable conditions for potential price appreciation, while simultaneously highlighting growing institutional confidence in Shiba Inu's fundamental prospects. Concurrently, Mutuum Finance (MUTM) continues to gain market traction, adding another layer of dynamism to the evolving cryptocurrency landscape. This coordinated whale activity across major exchanges underscores the maturing nature of meme coin investments and suggests a broader trend of strategic accumulation among large-scale investors seeking exposure to alternative digital assets with strong community backing and developing utility cases.
Shiba Inu Whales Accumulate 512B SHIB as Mutuum Finance (MUTM) Gains Traction
Shiba Inu whales are making waves with the acquisition of over 512 billion SHIB, signaling growing confidence in the meme coin's long-term prospects. The tokens, worth approximately $7.14 million, have been withdrawn from Kraken, indicating a shift toward accumulation rather than short-term trading. Exchange outflows now surpass inflows, reducing near-term selling pressure and setting the stage for a potential rally.
Meanwhile, Mutuum Finance (MUTM) is stealing the spotlight as a utility-driven altcoin with a dual-lending platform designed to enhance capital efficiency in DeFi. Its presale has drawn significant interest, with Phase 6 already 60% sold out at $0.035 per token. Analysts suggest that investors are quietly rotating capital from speculative meme coins like SHIB into MUTM, anticipating outsized gains in the next bull cycle.
Bitcoin Pauses Below Key Resistance Amid Market Consolidation
Bitcoin's rally stalled below the $125,000 pivot level as bears defended key resistance zones. The cryptocurrency now consolidates NEAR $122,200 after failing to sustain momentum above $126,000 earlier this week.
A bullish trend line emerges at $122,200 on hourly charts, though failure to hold $122,000 support could trigger further downside. Market participants watch the $124,000 level closely - a break above this Fibonacci retracement zone could reignite bullish momentum.
The recent price action reflects typical market digestion after Bitcoin's impressive 2024 rally. Liquidity pools between $120,500 and $126,200 continue to attract both buyers and sellers in equal measure.
Ethereum Price At Risk – Momentum Fades As Bears Target Fresh Lows
Ethereum's price rally stalled after failing to sustain above $4,600, with bears now pushing for a test of lower support levels. The second-largest cryptocurrency faces increasing selling pressure as it struggles to maintain footing above key moving averages.
Technical indicators show ETH/USD forming a descending channel on hourly charts, with immediate support near $4,460. A breach below $4,400 could accelerate declines, while resistance clusters around the $4,550-$4,585 zone mark potential reversal points. Market participants appear cautious as the asset consolidates below its 100-hour moving average.
The recent pullback from $4,759 highlights ongoing volatility in crypto markets, with ethereum mirroring Bitcoin's inability to sustain upward momentum. Trading volumes suggest accumulation near current levels, though the dominance of bearish pressure remains evident across spot and derivatives markets.
