Cryptocurrencies Price Prediction: Bitcoin, Meme Coin & Cryptos – American Wrap 12 March
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Large wallet investors, known as whales, are transferring their meme coin holdings to centralized exchange wallets. Specifically, three meme coins, Shiba Inu (SHIB), PEPE, and Dogecoin (DOGE), have seen a spike in exchange transfers.
Typically, an increase in an asset’s supply on exchanges, accompanied by a price decline, is a bearish sign for the cryptocurrency.
United States President Joe Biden has revived the idea of a 30% tax on electricity used by crypto miners in his budget proposal for 2025.