In the latest news, Shiba Inu (SHIB) whales are on the move again. They have transferred over 621 billion coins off exchanges, according to data from IntoTheBlock. In other news, the US SEC has delayed its decision on approving options trading for spot Ethereum ETFs.
Meanwhile, whales have picked three coins as their best picks for gains this year. They include Ethereum (ETH), Shiba Inu (SHIB), IntelMarkets (INTL). This article will look at potential price targets for these top altcoins in the coming months.
Shiba Inu (SHIB) Whales Move 621B SHIB Off Exchanges
Shiba Inu (SHIB), the second largest memecoin after Dogecoin, has been trading sideways in the past few weeks due to the bearish momentum in the market. However, whales have awoken in the past few weeks with the number of large transactions soaring up the roof.
Data from Cryptoquant shows that whales moved off over 621 billion SHIB tokens from crypto exchanges on September 23. This is one of the highest exchange outflows for the Shiba Inu coin in the last two weeks and is a sign of accumulation among bulls.
With this accumulation, it is expected that the Shiba Inu price could increase in the coming weeks. Presently, the value of the cryptocurrency is consolidating between $0.0000125 and $0.0000150. Its market cap is around the $7-$9 billion range.
Going forward, analysts are expecting profits in the future. Trading above the 50-SMA ($0.00001396), they say the value of Shiba Inu crypto to pump to the 200-SMA at $0.00001856.
US SEC Delays Decision on Options Trading for Ethereum (ETH) ETFs
The United States Securities and Exchange Commission (SEC) has postponed a decision about the approval of options trading for a spot Ethereum ETF to November. In two filings, the SEC stated that the regulatory body needs more time to consider the proposed rule change that will enable Nasdaq ISE LLC and NYSE American LLC to offer options trading.
Currently, the funds seeking approval from the commission are Bitwise’s Ethereum ETF (ETHW), Grayscale’s Ethereum Trust (ETHE), BlackRock’s iShares Ethereum Trust (ETHA), and Ethereum Mini Trust (ETH). While we await the approval, the Ethereum price is showing a 12% gain on the biweekly timeframe.
Ethereum coin is trading above the 50-SMA mark at $2,553.60 and is expected to climb higher in the next few months. If the uptrend continues, the altcoin could retest the residence at the 200-SMA ($3,114.28) and climb as high as $3,290.
IntelMarkets (INTL) Hits $550k in Presale Funding
Currently, there is a lot of focus on IntelMarkets (INTL), a new crypto ICO. It has been able to raise over $500k, and it is targeting to hit $1 million before the end of October. This is because IntelMarkets will be an Intelligent Trading Platform which shall be driven by Artificial Intelligence.
IntelMarkets is also a dual-chain platform which means that it runs on two blockchains, Ethereum and Solana. This means that traders can select which blockchain they wish to employ. While Ethereum offers security and connection to liquidity pools, Solana is famous for its speed and low fees per transaction.
Intels Markets is reported to be 500x faster in trade settlement than Starknet. However, IntelMarkets has another type of trading called perpetual futures trading, which does not have any expiry time. There is no limit on the time users may spend trading.
However, the native token of the INTL is the largest part of the ecosystem. INTL has many applications, and as of now, the token’s price is $0.018. This is an increase of 100% from its initial price of $0.009. According to industry experts, the value of INTL could increase by 1,100% before the end of this year.
The Whales’ Best Cryptos To Buy: Ethereum, Shiba Inu, and IntelMarkets
From the current market sentiment, Ethereum (ETH), Shiba Inu (SHIB), and IntelMarkets (INTL) are the best altcoins that have captured the attention of whales with their bullish potential for massive gains in the coming months. Analysts say their prices, especially IntelMarkets, could increase in the next few months.
Discover More About IntelMarkets:
Presale: https://intelmarketspresale.com/
Telegram: https://t.me/IntelMarketsOfficial
Twitter: https://x.com/intel_markets
