An unknown crypto whale recently sparked a wave of discussions and speculation throughout the crypto industry by depositing nearly 119 million Dogecoin (DOGE) on Binance’s exchange.
A Whale prepares $13.3 million in DOGE for sale
According to a report by Whale Alert, the coins came from an unknown crypto wallet, which deposited a total of 118,925,431 DOGE, worth approximately $13.3 million. The transaction became the talk of the meme coin sector, as nobody knew who made it or why.
https://x.com/whale_alert/status/1827331017310458286
While these factors remain unknown, the size and the timing are significant, as many have speculated that the market might be facing an incoming profit-taking. After all, the transfer took place soon after the crypto sector surged on Friday, following the Federal Reserve Chair’s, Jerome Powell’s, announcement that it is time to start implementing rate cuts in months to come.
This suggests that the US central bank is satisfied with the slowing of inflation. If true, and if the crypto sector, and particularly the meme coin sector really is about to see profit-taking, then buying DOGE now is not recommended. Instead, investors should consider an alternative investment, such as one of the promising meme coins that are currently in presale, such as Shiba Shootout (SHIBASHOOT).
BUY SHIBASHOOT AS AN ALTERNATIVE INVESTMENT TO DOGE
What Do You Need to Know About Shiba Shootout?
Shiba Shootout is a Shiba Inu-inspired meme coin that places the popular meme coin into the WIld West. The project doubles as a meme coin and a P2E game. It has already launched its game, known as Shiba Sharpshooter, which is available for both Android and iOS devices. But, while you can already download it for free and start playing today, it has not yet received the Web3 update that will make it a true P2E game.
For now, the game is just a really fun way to pass the time, as the update that will reward users with the SHIBASHOOT token has not yet arrived. It is expected sometime after the launch of SHIBASHOOT, and until then, players can practice their sharpshooting skills.
As for the token itself, it is currently still in presale, available for $0.02 apiece. The token recently hit a massive milestone of $1 million, and as of August 26, the ICO has raised a total of $1.04 million. There has been plenty of speculation regarding the token’s potential, and whether or not it might even challenge Shiba Inu upon going live.
JOIN THE SHIBASHOOT ICO WHILE THE PRICE IS STILL LOW
For now, however, all that anyone can say for certain is that it has seen plenty of demand, and that its SHIBASHOOT tokens are available in exchange for ETH, USDT, BNB, or fiat currencies, for those who prefer to buy with their credit or debit cards.
