Will these cryptos bleed on massive profit taking?

Previous rally has faded as whales tend to abandon the ship, this is why Dogecoin and Shiba Inu have experienced major price corrections at their top because of massive profit taking after prices peaked on Sunday and Tuesday. Shiba Inu currently trades at $0.00001358 versus $0.000014 on Thursday. Meanwhile Dogecoin trades at $0.069558 versus versus 0.078043 on Thursday.

Big investors give up their Dogecoin and Shiba Inu holdings, the two dog-themed cryptocurrencies suffered a decline in their price. Dogecoin price could even flip bullish and recoup its losses if specific conditions are met, argue analysts.

Dogecoin and Shiba Inu prices suddenly capitulated, after yielding double-digit profits to holders last weekend. The fall appears to be linked to mass profit taking ahead of the recent dip. Dogecoin price posted 13% losses and Shiba Inu 12% overnight. DOGE hit its high at $0.087 over the weekend.


Large wallet investors foreshadowed the ideal profit taking moments in the two cryptocurrencies. A spike in large value transactions, greater than $100,000 coincided with a decline in DOGE and SHIB prices.