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On-chain data analytics site Santiment reports that major holders of SHIB and DOGE sold their coins ahead of the market correction this week.

The image above was tweeted by @santimentfeedtheir flagship application via Sanbase Pro.

Shiba Inu whales & Dogecoin whales exit the market

Large SHIB and DOGE transactions of $100,000 or more were tracked along with the Shiba Inu price high on Sunday, August 14th and the Dogecoin price high on Tuesday, August 16th – and “the price corrections of both Coins perfectly anticipated”.

Shiba Inu & Dogecoin Price Drop

Shiba Inu price fell 30% from a high of $0.000018 to $0.0000125. Dogecoin price fell a little less, down 25% from $0.089 to $0.067.

Both memecoins outsold Bitcoin over the same period, which plunged 18% from $25,211 to $20,761 and has so far recovered less than BTC, which is now trading back above $21,500 at the time of writing.

Santiment also wrote that “as whales often do, heralding ideal profit-taking moments as their large transactions exploded on every network.”

#dogecoin and #Shiba Inu Both have seen major price corrections from their respective highs on Tuesday and Sunday. As is often the case, whales anticipated ideal profit-taking moments as their large transactions exploded on every network. https://t.co/6QoIoxkknt pic.twitter.com/p3BAMjcav1

— Santiment (@santimentfeed) August 19, 2022

Some retail investors who hold Shiba Inu responded to the news:

“That’s why I say whales are the enemies of the true Shib army. Whales have total control over the price and if the price increases by even the smallest amount, the whales take profit and drop the price. We need another HUGE burn or we’ll be fighting for years to lose another ZERO!’

Another commented on the high total supply of Shiba Inu (one quadrillion):

“Do you really see that with so many numbers available, Shib will go anywhere? It’s a real question. I’ve made some short-term gains with Shiba, but never really held onto it long-term.’

Prior to this crash, Shiba Inu whales pushed the price up around 40% in a week from August 7th to 13th. However, they appear to have taken profits now and the Shiba Inu price is currently down 21% this week.

Next big meme coin

One way to beat crypto whales, be it Shiba Inu whales, Dogecoin whales, or others, is to invest in a new token presale that isn’t yet trading on exchanges.

Pre-sales provide a level playing field and tend to work well for early buyers regardless of bear market conditions. A presale we recently reviewed pumped 450% relative to list price and 700% from presale price.

Our next pick is Tamadoge (TAMA), a low-supply (2 billion) deflationary meme token that has more utility than Dogecoin or Shiba Inu — as a reward token of an upcoming NFT game — and greater incentive to hold it .

The Tamadoge pre-sale is now active and is currently 50% sold out – check out the roadmap and white paper at buy.tamadoge.io.

Meme Coin News

• The best meme coins you can buy right now
• P2E Game Tamadoge Smashing Presale, Raises $6.5M So Far – Beat the next TAMA price spike
• Shiba Eternity Game vs. Tamadoge Pets App – Early Shots

Santiment – ​​​​’Dogecoin, Shiba Inu Whales Sold’ – Next Big Meme Coin post appeared first on Business 2 community.

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