The cryptocurrency market is witnessing significant fluctuations, particularly as of December 24, 2024, with notable changes among various altcoins and tokens amid whale activities. Among these, VIRTUAL, Shiba Inu (SHIB), Hedera (HBAR), and Pepe (PEPE) have been particularly active.
VIRTUAL, the native token powering the decentralized platform for creating AI agents, has experienced remarkable growth, surging by 24% within 24 hours. This impressive rally has been propelled by a staggering 109% spike in its daily trading volume, which reached $383 million during this period. According to BeInCrypto, "VIRTUAL’s rally is accompanied by a remarkable surge in its daily trading volume," indicating heightened interest and demand for the altcoin, which may suggest the rally could extend.
Significantly, this price surge coincides with VIRTUAL’s Long/Short Ratio, which stands at 1.02. This ratio suggests there is more demand for long positions—bets on price increases—than for short positions. This bullish sentiment reflects trader optimism about VIRTUAL’s future, reinforcing the potential for continued price growth. On the daily chart, VIRTUAL is trading just below its all-time high of $3.32, achieved on December 16.
Meanwhile, Shiba Inu, one of the most discussed meme coins, has also made news with surging whale activity, reporting a 265% increase within the last day. Such activity follows days of investor profit-taking and price declines, prompting speculation about potential rebound movements. Data from IntoTheBlock indicated interesting trends, noting, "This resurgence is not just confined to token volumes but extends to the monetary value of these transactions," confirming the bounce back as significant for future price increases.
Details reveal the volume of large transactions on the Shiba Inu network surged to 3.75 trillion SHIB tokens, representing a substantial monetary value of $84.24 million. Such renewed interest from whales could signal possible rebounds, especially if coupled with rising active addresses and token burns. Currently, SHIB is trading at approximately $0.00002229, which has seen a modest rise of 3.1% over the last 24 hours, potentially marking the end of the heavy selling pressure observed previously.
Hedera’s native cryptocurrency, HBAR, has also emerged as one of the clear leaders. It has skyrocketed by over 11% within the last day, surpassing Stellar (XLM) and Polkadot (DOT) to take its rightful place among top-performing altcoins. Mati Greenspan from Quantum Economics noted, "HBAR has been flying this bull run and is a clear leader in the altcoin market." This rally not only showcases HBAR's tech advancements but also its newly formed partnerships with notable companies such as NVIDIA and SpaceX, contributing to its market credibility.
At the moment, Hedera boasts a market capitalization of £11.7 billion, ranking number 16 on CoinMarketCap. This designation reveals how confident investors are becoming about HBAR's growth prospects as it progresses through its developmental milestones.
Aside from these notable contenders, Pepe Coin ($PEPE) is trading at approximately $0.000019 per token, with recent activity reflecting increased trading volumes around $2 billion. Despite this, the token has faced declines of nearly 21% over the past week, mirroring instability observed across the market.
During the same period, analysts also assessed potential price action for SHIB, projecting it could target the $0.00002821 level if it holds support above the $0.000020 mark. Forecasts highlight, "Some experts predict SHIB could achieve new all-time highs during the anticipated 2025 bull market," providing insights for investors keeping close attention on support and resistance levels.
Further compounding these market dynamics, the Hyperliquid (HYPE) token buyers are making headlines with substantial purchases, one whale alone acquiring 4,428,867 HYPE tokens for $12.22 million. Coinspeaker highlighted, "The whale confidence is clearly evident, increasing the chances of HYPE continuing its bullish trend." This is particularly remarkable considering the mixed sentiments and volatility surrounding North Korean hacking exploits affecting the crypto trading space.
To tackle potential bearish pressure, it remains to be seen how these tokens will navigate uncertainty as 2024 wraps up. With the rise and fall of whale activity impacting these asset prices, the future direction will rely heavily on broader market sentiment and individual token performances on platforms. Investors should remain cautious, as market conditions can shift rapidly, demanding close examination of both long-term strategies and short-term movements.
