Ethereum and Dogecoin Whales Dump Meme Coins for Remittix
1min read Ethereum and Dogecoin whales have been rapidly accumulating Remittix tokens, with the project's initial coin offering (ICO) raising over $8 million. This trend suggests a shift in whale behavior, as these large investors have traditionally favored meme coins. However, Remittix's focus on solving real-world financial pain points, such as cross-border remittances, has attracted significant attention from these whales.
Remittix's viral presale has gained traction due to its target market of the $190 trillion global banking sector, rather than relying on influencer endorsements or meme culture. Over 380 million tokens have been sold, and the total raised has surpassed $8 million, demonstrating the project's popularity. The project's promise of seamless crypto-to-fiat conversions and cheaper, faster cross-border payments resonates with investors, who note that liquidity is locked for three years and the contract will be renounced post-presale to prevent rug pulls or manipulative developer moves.
The pivot of Ethereum whales from meme tokens suggests that the mania around these coins might be cooling. Daily volumes in the meme coin category have dropped by 18% over the past month, and Dogecoin's major holders appear cautious, selling portions of their DOGE holdings whenever social-media-driven rallies lose momentum. However, it remains unclear whether whales have permanently abandoned these coins or are merely diversifying their portfolios.
Remittix's approach to reducing remittance fees aligns with an enormous industry, which may protect it from meme coin burnout. The project's blend of speculation with tangible solutions appeals to whales seeking altcoins that offer more than fleeting pumps. If Remittix can deliver on its promise of bridging the $190 trillion banking sector, early adopters, such as Ethereum and Dogecoin whales, could see game-changing returns.
