Whales Activity Indicates Massive Price Moves Ahead: Shiba Inu (SHIB), Pepe Coin (PEPE), Dogecoin (DOGE) Going To Explode? Whales Are Eyeing Newcomer PlutoChain
January 6th, 2025 at 11:38 pm UTC · 5 mins read
/PlutoChain/ – The market is showing signs of potential major price movements as whale activity intensifies around popular meme coins and emerging platforms.
Tokens like Shiba Inu (SHIB), Pepe Coin (PEPE), and Dogecoin (DOGE) are displaying promising market indicators.
A notable newcomer, PlutoChain ($PLUTO), has particularly caught the attention of whales with its innovative Layer-2 solution that could expand Bitcoin’s capabilities. The platform could address Bitcoin’s fundamental challenges while potentially maintaining network security.
Let’s have a look at what each project offers.
PlutoChain ($PLUTO): The Layer-2 Solution That Could Bring Smart Contracts to Bitcoin
PlutoChain ($PLUTO) could bring a potentially innovative approach to solving Bitcoin’s long-standing challenges.
Issues like network congestion, slow transactions, and high fees have hindered Bitcoin’s broader adoption. PlutoChain could address these problems with a hybrid Layer-2 solution.
By creating a parallel network above Bitcoin’s main blockchain, PlutoChain could reduce mainnet traffic, lower transaction costs, and enhance scalability.
Using Layer-2 technology, PlutoChain offers a block time of just 2 seconds compared to Bitocoin’s 10-minute block time. This technology could also enable smart contracts while potentially maintaining Bitcoin’s security.
It would transform Bitcoin into a versatile platform instead of just a store of value.
With Ethereum Virtual Machine (EVM) compatibility, PlutoChain could make it easy for developers to migrate Ethereum-based projects to Bitcoin.
This would also create opportunities for DeFi applications, NFTs, and AI-driven projects.
The testnet has already processed over 43,200 daily transactions, which proves it can handle real-world demand.
It has undergone independent audits by SolidProof, QuillAudits, and Assure DeFi to confirm the safety and reliability of its smart contracts and infrastructure.
PlutoChain also prioritizes community involvement with a governance system that lets users vote on updates, partnerships, and new features.
Shiba Inu ($SHIB): Leveraging Community Power for DeFi and Token Utility Expansion
In 2023, Shiba Inu launched Shibarium, its Layer-2 blockchain on Ethereum, to address high fees and slow transactions while enhancing scalability.
By December 2024, Shibarium surpassed 600 million transactions and 2 million wallet addresses, which solidified its role in Shiba Inu’s evolution from a meme coin to a functional blockchain.
Shiba Inu (SHIB) is trading at approximately $0.00002113, with a market capitalization of around $12.44 billion.
The Relative Strength Index (RSI) for SHIB stands at 42, indicating a neutral to slightly oversold condition.
Key support levels are identified at $0.0000176 and $0.000025, while resistance levels are noted at $0.00002 and $0.000037.
The RSI is at 42, which puts SHIB in a neutral zone to a slightly oversold zone.
Crypto analyst Javon Marks shared insights on X about Shiba Inu’s bullish pattern and predicted a target price of $0.000081 — a potential 180% surge.
Marks highlighted SHIB’s history of aligning with bullish trends and suggested that its upward momentum might already be underway.
Pepe (PEPE): A Meme Coin Leading in Liquidity and High-Volume Trading
In mid-November 2024, PEPE’s price surged nearly 97% and hit an all-time high of $0.00002708, which pushed its market cap past $11 billion.
This rally came on the back of soaring trading volumes, which exceeded $2 billion and highlighted strong market activity.
As of December 30, 2024, Pepe (PEPE) is trading at approximately $0.000018, with a market capitalization around $7.62 billion.
Key resistance levels are identified at $0.00000693, $0.00001377, and $0.00001724, while the main support level is noted at $0.00000379.
RSI is at around 48, which means PEPE is in the neutral zone.
Crypto analyst Chandler Bing forecasts a potential bounce, with price targets of $0.000035 and $0.000060, pointing to possible bullish momentum.
Dogecoin (DOGE): The Meme Coin for Accessible Transactions and Community-Driven Innovation
Following the U.S. presidential election in November 2024, DOGE’s price surged over 115%, which elevated its market capitalization to $58.17 billion.
President-elect Donald Trump announced the creation of the Department of Government Efficiency (DOGE) and appointed Elon Musk and Vivek Ramaswamy as leaders.
This initiative aims to streamline federal operations and reduce wasteful spending. The acronym’s resemblance to Dogecoin has garnered significant attention.
Dogecoin (DOGE) is trading at approximately $0.3126, with a market capitalization around $46.26 billion.
Key resistance levels are identified at $0.35, $0.39, and $0.48, while support levels are noted at $0.285, $0.22, and $0.20.
RSI for DOGE stands at 47, which indicates neutral market conditions.
Crypto analyst Chandler Bing sets a conservative price target for Dogecoin between $2.35 and $2.60 and cites its historical performance during previous bull runs alongside Bitcoin and Ethereum.
Final Words
The crypto market looks ready for big moves, as both popular meme coins and new platforms show strong signs of ecosystem growth.
Shiba Inu made progress with Shibarium, Pepe Coin hit impressive trading numbers, and Dogecoin got an unexpected boost from political news.
However, PlutoChain might stand out with its new Layer-2 solution that could expand Bitcoin’s overall utility in areas such as DeFi and more – the kind of tech whales love to back.
With its potential mainnet launch drawing near PlutoChain might be an interesting project to watch in the following weeks.
The information in this article does not represent financial or investment advice. Always research carefully before participating in the crypto market. Risks are inherent in forward-looking statements, which may not be revised.
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