Over the last day, XRP whales have sold more than $300 million worth of XRP tokens, driving the XRP price into a nosedive in the market.
The knock-on effect of large token outflows like this usually takes up to weeks and may even trigger other selloffs from other crypto investors. Analysts aren’t very bullish about the prospects of the XRP token. Holders of the Defi coin can expect a continuous downtrend, at least in the short term.
Meanwhile, several new projects are entering the market. The new presale token Panshibi, has become an interesting option despite only just entering the second stage of its presale.
Ripple’s latest news: XRP selloffs may spark a trend
Crypto analysts believe that the selloff by XRP investors could fuel a trend throughout the broader crypto market, considering how influential Ripple has grown in the past few months.
The latest news about Ripple revealed that XRP whales have dumped $360 million worth of XRP tokens in the last 24 hours, further contributing to XRP’s declining price. If the situation does not change soon, then XRP’s price might emerge at pre-2024 levels during the height of the bear market.
ETF approvals and major exchange listings are expected over the next few months and would likely trigger a price rally for XRP. However, those are long-term changes that have no real guarantee.
Panshibi lives up to the hype
The Panshibi presale token is living up to the expectations of crypto analysts, who said the token could become one of the best-performing meme coins in 2025. While the meme coin’s presale has been capped at $10 million, it is still attracting investors from across the industry.
Panshibi’s appeal comes from its narrative, which combines three strong communities: Asia, Pandas, and meme coins. It also offers much in the way of utility, as its token holders get access to staking rewards, governance rights, and exclusive VIP membership perks.
Having entered the second stage of its presale, Panshibi is currently selling at $0.003. Panshibi’s presale will consist of 15 stages, with 60% of its total supply up for grabs.
Conclusion
While analysts ponder over why XRP’s price continues falling, Panshibi is moving quickly with its presale and is on course to become a lead performer. The token is now attracting interest from analysts, investors, and enthusiasts across the industry.
Stage 1 investors have already gained 50% ROI as the SHIBI coin has surged from $0.002 to $0.003, and there are still some presale gains for investors who join in now.
