Shiba Inu Whale Alert watch that the exchange moved the first batch of 1.634 trillion SHIB tokens from its hot wallet to an unidentified wallet on Tuesday. The whale tracker also noted several similar transactions, pointing out that the exchange mixed the exact amount five times in the same hour. The move comes as The price of the Shiba Inu recorded a weekly decline of more than 4%. On the other hand, Pudgy Penguin recorded a monthly rise of over 600% despite a drop in market capitalization from $2.8 billion to $2.2 billion.
Pudgy Penguins has also seen a decline in its NFT sales. Additionally, as the adoption of cryptocurrencies accelerates globally, there is a growing demand for comprehensive cryptocurrency-to-fiat payment protocols. Established TradFi and DeFi platforms still offer incomplete solutions, and Remittix (RTX) intends to change that.
Shiba Inu Records Whale Transfers Amid Price Correction
A thorough analysis of the Shiba Inu whale transaction revealed that Crypto.com transferred the funds twenty times to a similar receiving address, amounting to 32.74 trillion tokens. Additionally, an on-chain analysis by Crypto Basic revealed that the 32.74 trillion SHIB Tokens that had been mixed was an internal transfer.
According to Arkham Datathe receiving address was a Crypto.com deposit address. This means that the exchange only transferred excess SHIB tokens from its hot wallet to its deposit address. It should be noted that internal transfers of this nature are not new on large trading platforms, as they improve security and liquidity.
The transfer correlates with the recent decline, which saw The price of the Shiba Inu record a bearish weekly outlook, trading above the $0.000020 level. Technical indicators also point to a bearish outlook, with the ROI at 42, suggesting increasing selling pressure.
Pudgy Penguins Sees Price Rise as Its NFT Sales Drop
Despite Chubby Penguin Prices rally to trade above the $0.034 levelTHE PENGU token faced a decline in its NFT sales. According to CoinMarketCapits NFT sales for collected items fell more than 50% in the first week of January, totaling $5.5 million.
Additionally, its trading volume also saw a drop of over 15% over 24 hours, highlighting a decline in the NFT market despite a rally in The price of PENGU. Aside from the success of the Pudgy Penguins, the token has gained significant recognition through its digital content. The first week of January saw PENGU GIFs and stickers receive over 1.1 billion views.
Technical indicators indicate ongoing bullish momentum, with the RSI at 52 suggesting increased buying pressure. The move could be driven by Pudgy Penguins’ plans to expand PENGU beyond Solana, as it aims to integrate it with Ethereum and Abstract, supported by its partnership with major retailers including Target and Walmart.
How Remittix will change cross-border payments
Remittix (RTX) is an innovative PayFi project designed to revolutionize cross-border transactions. It will remove inefficiencies currently present in many existing systems and blockchain-based solutions by allowing users to convert over 40 cryptos to fiat currencies and send money to any global bank account.
The project is focused on simplicity and transparency. Unlike traditional payment systems that have hidden fees for currency conversions and wire transfers, Remittix will offer flat rates. What users send is precisely what recipients receive. This cost-effective approach, combined with instant settlement of transactions, offers an attractive alternative to established players.
Its ability to operate seamlessly within existing ecosystems also sets Remittix apart. Recipients will receive payments in the form of traditional bank transfers, without knowing that they come from cryptocurrencies. This advantage allows businesses and individuals to adopt blockchain technology without any special knowledge.
THE RTX tokenwhich is the heart of the Remittix ecosystem, has already gone from $0.015 to $0.0199, which represents a 32% rally in just two weeks! Its pre-sale funding has also accumulated over $2.4 million, with the recent listing on CoinMarketCap ready to push it even further in January!
Remittix Could Hit a 5x Rally in January
Demand for the TRX token has exploded as many investors join the ongoing presale. With such impressive demand, Remittix could record a 5x win in February while looking to get ahead Shiba Inu Price Movement in 2025.
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