The whale movement in the meme and altcoin market is at a new high. This market movement can share a glimpse of the future outcome of crypto, especially regarding investors cashing out of SHIB and potentially moving them to a new ICO by the name of Mollars.
Recent blockchain data indicates that whales are rapidly moving their SHIB holdings to exchanges. While it is impossible to affirm what the funds are being used for, moving assets to private trading platforms generally indicates investors swapping or withdrawing their holdings.
On X (formerly known as Twitter), renowned investment analyst “The Data Nerd” highlighted how an anonymous investor (0x46247fBB0c26eB926dF74791d2B24037CeBCB5E8) deposited 100 billion $SHIB—worth over $2,240,000 to Coinbase.
However, despite bearish signals pointing to the potential exhaustion of the SHIB token, Shiba Inu is currently trading at a 9% profit over the past 24 hours. According to CoinMarketCap, the currency is currently trading at $0.00002518, a sharp increase from yesterday’s $0.00002302.
Whales moving SHIB to Mollars
In other stories, a new report that’s begun circulating has highlighted how a SHIB token whale investor has been DCAing (Dollar Cost Average) funds into the presale token Mollars (MOLLARS).
Over the past three months, the investor dubbed ‘King Shrimp’ bought the token in twelve separate transactions. Currently, it is estimated that this person owns over 7.974272038 ETH worth $MOLLARS or US$23,000. The staggering amount is believed to come from the traders’ massive Shiba Inu token holdings, from which they had to swap out over 909 billion SHIB tokens to do so.
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Interestingly, analyzing King Shrimp’s wallet suggests that the investor has been using his recent Shiba Inu profits and allocating them to a token he believes has a better chance of gaining value in late 2024.
So far, the presale has sold over 2,800,000 $MOLLARS tokens, worth over $1,300,000. King Shrimp, which debuted on May 31st, is believed to be the current largest holder of the token.
The asset is selling for $0.55 per token, and presale investors anticipate a major ROI on the ICO date. According to the developers, the token will be listed at $0.62 if it hits the hardcap goal, signaling a 12.72% increase from its current worth.
Why does ‘King Shrimp’ believe in Mollars to outperform SHIB?
The project’s success in gaining notoriety and adoption, highlighted by its already impressive presale numbers, serves as a testament that the crypto community sees in Mollars a chance for a strong return on investment and significant market impact.
Generally speaking, investors typically store funds in Bitcoin, which incurs cross-chain fees. Gas fees are becoming increasingly expensive. With Mollars, investors have the opportunity to save funds in a token even scarcer than Bitcoin itself, potentially reducing these costs.
Mollars has a total maximum supply of only 10 million tokens—less than half of Bitcoin’s 21 million BTC that will ever be minted. This scarcity plays a significant role in the token’s potential value. According to the laws of supply and demand, when an asset is scarce, and demand is high, its value tends to increase.
In the case of Mollars, its limited supply makes it a rare asset, which can drive up demand among investors looking for high-potential investments. As more investors recognize the scarcity of Mollars, the competition to acquire these tokens could intensify, leading to a rise in price. This dynamic is similar to Bitcoin, whose value has largely been driven by its capped supply and increasing demand over the years.
Anticipation for its release is building at such a rapid pace that three centralized exchanges (Bitmart, Lband, and XT) have already announced that they will list the token after May 31st.
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As the presale excitement for Mollars builds, its upcoming ICO is poised to capture significant investor attention. With its scarce supply and strong early demand, Mollars presents a compelling investment opportunity. The strategic moves by whale investors and the token’s potential for high returns make it a standout in the crowded crypto market. As major exchanges prepare to list Mollars post-ICO, its market presence and value are expected to rise, suggesting a promising future for those getting in early.
Disclaimer: This article is sponsored content and is not financial advice. CryptoNewsZ does not endorse or guarantee the accuracy of the content. Readers should verify information independently and exercise caution when dealing with any mentioned company. Investing in cryptocurrencies is risky, and seeking advice from a qualified professional is recommended.
