With the dynamic nature of the crypto market, the influence of major investors, often known as “whales” can have a profound impact, drawing the interest of both traders and enthusiasts. In recent times, Ethereum (ETH) whales have turned their attention towards outstanding meme tokens such as Shiba Inu (SHIB) and KangaMoon (KANG), thereby generating curiosity and speculation within the crypto community. As these influential investors navigate the decentralized landscape, their actions have become a focal point for traders, with everyone eagerly observing for the next development that could potentially shape the direction of the market.
Ethereum (ETH) Exceeds $4,000 Mark, Announces New “Dencun” Update
Blockchain and crypto giant, Ethereum (ETH) has recently celebrated a milestone after it crossed the $4000 mark. Interestingly, this figure might be surpassed soon largely due to the recent announcement of the “Dencun update” on the Ethereum blockchain.
The Dencun update will be introduced to improve the overall user experience and particularly lower transaction costs on Ethereum’s layer-2 blockchain. Prioritizing scalability and efficiency, this update intends to make the network seamless and a lot more secure than ever.
As this update rolls out, analysts are predicting Ethereum (ETH) to reach heights never seen before. Whatever the case may be, the Dencun update is a certain incentive for users and investors to flood the network.
Shiba Inu (SHIB) Recovers Quickly After Brief Decline
Having been in a docile state for a while, the Shiba Inu (SHIB) token has made an incredible comeback, surging over 200% in the last month. At the start of March 2024, Shiba Inu saw a minor decline just after hitting a multi-year high. However, with the persisting bullish momentum, the native SHIB token has quickly picked up steam, demonstrating the resilience and domination of the token’s network.
Currently, the meme coin, which has drawn interest from investors all around the world, has been maintaining a specific range, indicating a phase of accumulation. Trading within a weekly price range of $0.0000333 and $0.0000334, analysts and whales are anticipating a breakout soon enough.
KangaMoon (KANG) Turns Traders’ Heads, Records Over $1.3M in Presale Revenue
Having recorded great success since the start of its token presale, KangaMoon (KANG) has sparked anticipation and speculation in the cryptocurrency market. A relatively new meme coin on the block, KangaMoon has already demonstrated its potential to be a formidable force in the meme coin industry, with analysts projecting the KANG token to overtake the likes of SHIB and DOGE in the coming months.
Among other things, the KangaMoon ecosystem offers a unique platform that bridges the gap between SocialFi and GameFi. With this novel approach, users can participate in weekly, monthly, and even quarterly challenges to earn rewards and win prizes. Users can also bet on the outcomes of P2P battle contests and get rewarded in KANG tokens which can be translated into real-world assets.
Meanwhile, early investors of the KANG token are already in for massive gain after recording a 125% ROI. This came after KangaMoon’s price surge from $0.005 to a current price of $0.01125. More impressively, the network has also raised over $1.3M. This remarkable performance has drawn more interest in the project, with analysts projecting it to record over $2M before the end of March.
Scheduled to be listed on a tier-1 centralized exchange this year, KangaMoon’s current potential knows no limits with analysts and market observers very optimistic. Following its recent breakthroughs, analysts project KangaMoon to reach the $1 mark before the end of the year. As investors and traders flock into the network, now is the best time to buy this meme coin.
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Source: https://coinpedia.org/press-release/eth-whales-target-shib-and-kangamoon-having-traders-heads-turn/