Shiba Inu whale alert shows 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 multiple similar transactions, stressing that the exchange shuffled the exact amount five times within the same hour. The move comes as Shiba Inu’s price recorded a weekly dip of over 4%. On the other hand, Pudgy Penguin has recorded a monthly surge of over 600% despite a market cap dip from $2.8B to $2.2B.
Pudgy Penguins has also seen a dip in its NFT sales. Moreover, as the adoption of cryptocurrencies ramps up globally, there’s a growing demand for comprehensive crypto-to-fiat payment protocols. Established TradFi and DeFi platforms are still offering incomplete solutions, and Remittix (RTX) intends to change this.
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Shiba Inu Records Whale Transfers Amid Price Correction
A deep dive into the Shiba Inu’s whale transaction revealed that Crypto.com moved the funds twenty times to a similar receiving address, amounting to 32.74 trillion tokens. Moreover, an on-chain analysis by Crypto Basic revealed that the 32.74 trillion SHIB tokens that had been shuffled were an internal transfer.
According to Arkham data, the receiving address was a Crypto.com deposit address. This means that the exchange only shifted excess SHIB tokens from its hot wallet to its deposit address. Notably, internal transfers of such a nature are not new to large trading platforms, as they enhance security and liquidity.
The transfer correlated with the recent dip, which saw Shiba Inu’s price record a weekly bearish outlook, trading above the $0.000020 level. Technical indicators also point to a bearish outlook, with the RSI at 42, suggesting increasing selling pressure.
Pudgy Penguins Record A Price Rally As Its NFT Sales Dips
Despite Pudgy Penguins’ price rally to trade above the $0.034 level, the PENGU token has faced a dip in its NFT sales. According to CoinMarketCap, its NFT sales for the collected dropped by over 50% in the first week of January, totaling $5.5M.
Additionally, its trading volume has also seen a 24-hour dip of over 15%, highlighting a decline in the NFT market despite a rally in PENGU’s price. In addition to the Pudgy Penguins’ success, the token has achieved significant recognition owing to its digital content. The first week of January saw PINGU’s GIFs and stickers receive more than 1.1B views.
Technical indicators point to a building bullish momentum, with the RSI at 52 suggesting increased buying pressure. This move could be propelled by Pudgy Penguins’ plans to expand PENGU beyond Solana, as it aims to integrate it with Ethereum and Abstract, backed 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 the inefficiencies currently present in many legacy systems and blockchain-based solutions by allowing users to convert 40+ cryptos into fiat currencies and send money to any global bank account.
The project is all about simplicity and transparency. Unlike the traditional payment systems that feature hidden fees for currency conversions and wire transfers, Remittix will offer flat-rate pricing. What users send is precisely what the recipients receive. This cost-effective approach, coupled with instant transaction settlement, offers a compelling alternative to the established players.
Its ability to operate seamlessly within existing ecosystems also makes Remittix stand out. Recipients will receive the payments as traditional bank transfers, unaware that they originated in cryptocurrency. This perk allows businesses and individuals to adopt blockchain technology without any special knowledge.
The RTX token, which is the core of the Remittix ecosystem, has already surged from $0.015 to $0.0199, representing a 32% rally in just two weeks! Its presale funding has also accumulated over $2.4M, with the recent listing on CoinMarketCap set to push it even further in January!
Remittix Could Hit a 5x Rally In January
The demand for the TRX token is through the roof as many investors join the ongoing presale. With such an impressive demand, Remittix could record a 5x gain in February while seeking to outstrip Shiba Inu’s price movement in 2025.
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