Ripple, Shiba Inu, Dogecoin: what are the whales doing again?

Investing.com – Ripple, Shiba Inu and Dogecoin posted losses on Tuesday, January 18, 2022. Ripple lost -1.45% to $0.7482, while Ripple lost -4.00% to $0.0000283 and it fell -3.28% to 0.1637 dollars.

Ripple: whales transfer 150 million XRP

Tracking platform Whale Alert reported that two large XRP transactions of more than 70 million XRP each took place in the past few hours.

While Whale Alert speaks of unknown wallets involved in this process, data from Bithomp indicates that the transaction was initiated by Bybit. From there, just over 70 million XRP was sent to a wallet Binance.

The second transaction took place internally at Binance and more than 79 million XRP was displaced.

The Shiba Inu community is growing

Although an additional 383.5 million SHIBs have been burned in the past three days, the downward movement continues continuously. This is mainly due to the broader market being caught in the grip of rising US bond yields.

Interest in the Shiba Inu seems to be continuing, however, with WhaleStats reporting that there are now over 1.145 million wallets that the SHIB is on. here.

Dogecoin on its way to $0.1373

On several occasions, Dogecoin failed to hold above the 23.6 percent Fibo retracement of $0.1817.

As long as trades are below this level, expect losses towards the recent low of $0.1373.

Only if Dogecoin manages to sustainably break above the 23.6 percent Fibo retracement can a rally towards $0.2118 develop. In the current environment of rising US bond yields, that seems unlikely, at least in the short term.

By Marco Oehrl

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