Ethereum whales are accumulating Shiba Inu and Remittix – here’s why

Shiba Inu surges 114% YTD, with Ethereum whales driving interest as they accumulate SHIB and Remittix for cross-border payments.

Shiba Inu’s price has surged over 114% on its year-to-date chart, signaling an increasing bullish momentum despite dipping over 11% in the last 30 days. As the holidays approach, Ethereum whales are at work accumulating DeFi tokens and meme coins such as SHIB, as reports highlight a significant move by whales to withdraw ETH from exchanges.

Shiba Inu’s interest is already surging, as seen by its recent uptick in large transactions thanks to the favor of Ethereum whales. Onlookers anticipate Shiba Inu’s ascent beyond its meme coin status thanks to the developments launched in its ecosystem.

Ethereum whales are also accumulating Remittix, which is a promising PayFi project built on the Ethereum network. Remittix is revolutionizing cross-border payment with an intuitive design that allows non-crypto users to receive payments made in crypto.

Ethereum whales withdraw Ethereum from exchanges as the bull run starts

Ethereum’s price had briefly breached the $4,000 resistance mark as Ethereum’s spot ETF’s registered capital inflow above $100 million. This is a huge indicator of increased institutional appeal towards Ethereum, and it comes at a time when Ethereum whales are accumulating even more ETH and taking it out of exchanges.

While Ethereum’s price has had a sluggish bullish resurgence, analysts opine that increased institutional adoption of Ethereum, as seen through Ethereum’s ETFs, will result in an uptick in the long run as it requires a lot more liquidity to move ETH. Even so, Ethereum whales remain super bullish, and there is growing confidence among institutional players in Ethereum and the projects in its ecosystem, such as Shiba Inu and Remittix.

Shiba Inu’s price drop sees increased accumulation from whales

Shiba Inu’s price has a lot more potential than most market watchers believe. While Shiba Inu’s price has dropped 11% in the last month, SHIB is still up by 114% over the past year. Analysts anticipate further upside for SHIB after a spike in large transactions from ETH whales who appear to be buying the dip.

Popular market watchers anticipate a SHIB price surge of 1,700% in this bull run, with targets set as high as $0.0000473. While SHIB is priced at around $0.0000223, its trading volume is rising with notable upticks as high as 12%, as over $740 million is traded on SHIB’s market.

Ethereum whales look to Remittix for its cross-border payment solution

Ethereum whales are accumulating SHIB as well as emerging DeFi protocols such as Remittix. DeFi tokens have seen strong performances over the past couple of weeks as money rotates from meme coins. Remittix is a project catching the eye in particular, as it offers a crypto-to-fiat payment bridge that could trigger mass adoption of crypto worldwide.

Remittix is bringing about a new level of financial empowerment that delivers reliability and transparency to everyone, regardless of their social or economic background. Remittix is a practical, secure, and efficient payment solution that serves the interests of both businesses and customers.

Built on Ethereum’s blockchain, Remittix enables crypto holders and Ethereum whales to easily convert their funds to fiat currencies across multiple jurisdictions. Remittix is the future of on-chain micro-payments and is on track to lead the PayFi movement estimated to be worth over $250 trillion by 2027.

Remittix’s ongoing presale is running a $250,000 competition that gives participants entry through the completion of simple tasks. Remittix’s simplicity and efficiency give the likes of Stripe, Wise, and Coinbase a run for their money, and Ethereum whales are starting to pay attention as analysts anticipate huge upside for RTX in the near future.

To learn more about Remittix, visit the Remittix presale and join the Remittix community.

This article first appeared at crypto.news