Whales Dump Shiba Inu (SHIB), Buy the Dip on Ripple (XRP) and IntelMarkets (INTL)

On-chain data shows that whales have been selling off their Shiba Inu (SHIB) amid the downturn in the crypto market. A whale recently sold over 250 billion SHIB coins.

Crypto whales have been displaying contrasting behaviors amid the downturn in the crypto market, as indicated by recent on-chain activity.

On the one hand, a whale recently sold off a massive amount of Shiba Inu (SHB) coins, according to data from Lookonchain. The whale's address, beginning with "0x88," sold 250,443,383,344 SHIB coins on December 22, valued at roughly $2.7 million at the time of the transaction.

This large-scale selling activity could indicate that some whales are cashing out their SHIB holdings following the memecoin's impressive rally in 2022. Shiba Inu's price has soared by over 400% year-to-date, making it one of the best-performing cryptocurrencies in the top 50.

On the other hand, whales have been accumulating a new coin called IntelMarkets (INTL) amid the downturn, showing bullishness towards the AI trading platform. A recent鯨魚地址，從事大量加密貨幣交易的地址或實體。鯨魚通常持有大量特定加密貨幣，他們的交易活動會對市場價格產生顯著影響。 analysis by Ali Martinez showed that whales bought millions of INTL, leading the project to hit $5 million in presale.

According to the analysis, whales bought 110,000,000 XRP on December 19 and began buying the coin heavily on December 20.

In a follow-up tweet, Ali noted that the TD Sequential indicator is presenting a buy signal on the XRP 4-hour charts. This is a bullish indicator that could be followed by an upsurge in the coming months. Potential price targets might be $3 and $4 in the short term.

Moreover, the Stoch RSI (14) is flashing a buy signal, indicating that bulls are in charge. The Relative Strength Index (RSI) is a technical analysis momentum indicator that measures the magnitude of recent price changes to evaluate whether an asset is overbought or oversold.

The Stoch RSI (14) scales the RSI to a range of 0 to 100, where readings below 20 typically indicate oversold territory and readings above 80 indicate overbought territory. In this case, the Stoch RSI (14) reading is in the bullish zone.

Overall, technical analysis suggests that XRP could be poised for a bullish move, supported by strong whale accumulation and bullish chart patterns.