TL;DR

• Shiba Inu leads in centralization: a setup that poses risks of sudden price swings and contradicts crypto’s decentralized ideals.
• SHIB shows mixed signals, as its price dips while burn activity surges by over 4,000% and tokens steadily flow out of exchanges, hinting at reduced sell pressure ahead.

SHIB is the Most Centralized? According to a recent study conducted by Santiment, Shiba Inu’s top 10 wallets control a whopping 62% of the meme coin’s circulating supply. The self-proclaimed Dogecoin-killers ranked first in that statistic, while the biggest stablecoin, USDT, came in second with 51.8%. Ethereum (ETH) is third, with its top 10 holders owning 49% of the supply, whereas PEPE is next with 39%.  SHIB might lead on this front, but that doesn’t necessarily mean that its investors and proponents should pop the champagne and celebrate. Controlling a significant portion of the supply contradicts the decentralized spirit of the crypto industry.  Additionally, this makes the asset more vulnerable to substantial price changes due to potential massive sell-offs or accumulation efforts.  “As a retail trader, it’s generally safer to hold coins with less supply held by the most elite whales. There is less risk of sudden dumps or price manipulation should an asset’s largest whales decide to exit their positions,” Santiment warned. SHIB Price Outlook As of this writing, the price of the meme coin stands at around $0.00001159, which is a 3% decrease for the past day. Its market capitalization has slipped to just under $7 billion, making SHIB the 24th-biggest cryptocurrency in the entire market.  Essential metrics, however, suggest that the price may be gearing up for a renewed rally. In the last 24 hours, the Shiba Inu team and community have burned over 13.4 million tokens, representing a 4,000% increase compared to the figure observed on July 3.
Burn Rate, Source: Shibburn The ultimate goal of the burning mechanism is to reduce the supply of SHIB and potentially increase the asset’s value through scarcity.  Next on the list is the decreased supply of Shiba Inu tokens on centralized exchanges. Over the past month, there has been an evident shift from such platforms toward self-custody methods, which reduces the immediate selling pressure. SHIB Exchange Netflow, Source: CryptoQuant     The post Shiba Inu (SHIB) Outpaces Ethereum (ETH) and Pepe (PEPE): But Not in the Way You Might Think appeared first on CryptoPotato.

PEPE's recent upward movement is supported by several bullish factors.

Key takeaways

• PEPE has lost 9% of its value in the last 24 hours, erasing some of the gains recorded earlier this week.
• The technical indicators remain bullish as PEPE could reclaim $0.00001077 soon.

Bitcoin dips below $109k, Pepe loses 9% The cryptocurrency market has turned bearish after its recent positive performance. Bitcoin, the leading cryptocurrency by market cap, is down 1% in the last 24 hours and now trades below $109k.  The negative performance saw the total cryptocurrency market drop to $3.35 trillion. PEPE, the native coin of the Pepe memecoin, lost 9% of its value in the last 24 hours, making it the worst performer among the top memecoins. At press time, PEPE is trading at $0.00000980 but could rally higher amid strong technical indicators.  PEPE eyes $0.00001077 as bullish sentiment remains The PEPE/USD 4-hour chart remains bullish despite the token losing 9% of its value in the last 24 hours. The technical indicators remain positive, suggesting buying pressure from investors. The Moving Average Convergence Divergence (MACD) lines are currently in the positive zone, indicating that buyers are in control of the market. Furthermore, the Relative Strength Index (RSI) of 56 shows PEPE is neutral but could enter the overbought region if the bulls stay in control. If the bullish trend continues, PEPE could test the immediate and formidable resistance between $0.00001070 and $0.00001077. The price has repeatedly tested this zone and struggled to push through. A sustained and decisive move above this resistance level would be a significant bullish signal, likely paving the way for a test of the $0.00001100 mark.  On the downside, PEPE could struggle if bulls fail to defend the current support level at $0.00000980. Failure to defend this support level could see PEPE dip towards the Transactional Liquidity (TLQ) region at $0.00000898. These support levels are crucial, especially if a short-term pullback is expected. The post Pepe indicators remain bullish despite losing 9%; check forecast appeared first on CoinJournal.

TL;DR

• The penguin-themed meme coin reached a two-month high, while its market cap exceeded $1 billion.
• Analysts see potential for further gains, with Ali Martinez noting striking similarities between PENGU’s current trajectory and PEPE’s past breakout.

PENGU’s Rally The Solana-based Pudgy Penguins (PENGU), which saw the light of day towards the end of last year, appears to be among the latest major trends in the meme coin niche. Its price jumped by over 70% in the past seven days, reaching a two-month high of roughly $0.016. PENGU Price, Source: CoinGecko Its market capitalization surpassed $1 billion, making PENGU the eighth-largest in its field and the 94th-biggest in the entire market. As it rose up the crypto ranks, the asset flipped popular meme coins like dogwifhat (WIF), FLOKI (FLOKI), Brett (BRETT), and others. Several factors have positively influenced the token’s valuation over the last week. One of the main ones is Canary Capital’s filing with the CBOE to introduce a PENGU ETF. The fund, if it receives the necessary green light, will become the first in America to hold actual NFTs, specifically from the Pudgy Penguins collection, along with the underlying meme token. Another bullish element is Revolut’s decision to make PENGU available on its trading platform. The listing gives Revolut’s multi-million-user base direct access to the coin, boosting its exposure and contributing significantly to its recent rally. The Next PEPE? PENGU’s price increase as of late has led some industry participants to believe that it could repeat the impressive performance of PEPE, which was at the crest of the wave on a couple of occasions last year. One person who spotted a potential similarity between the dynamics of the two meme coins is Ali Martinez.  “PENGU is starting to look a lot like PEPE did before it exploded! A daily close above $0.015–$0.017, and this train could be unstoppable,” he said. Shortly after, Martinez chipped in again, foreseeing that PENGU could be on the verge of a massive rally toward $0.044. Such a move would represent a 200% jump from current levels.  The post Why is the Pudgy Penguins (PENGU) Price up by 70% This Week? appeared first on CryptoPotato.

A cryptocurrency analyst has pointed out how Pudgy Penguins (PENGU) is starting to look similar to Pepe (PEPE) did before its explosion. Pudgy Penguins May Be Following A Similar Path As PEPE In a new post on X, analyst Ali Martinez has talked about how PENGU is showing to the memecoin PEPE in its price chart. Below are the graphs shared by Martinez comparing the trends of the two side-by-side. In both charts, the analyst has marked the Fibonacci Retracement levels for the assets, lines that are based on ratios from the famous Fibonacci series. The analyst has set the 1.0 level to a price top for both assets. For PEPE, it’s the high from 2023, and for PENGU, it’s the peak from the start of 2025. Similarly, the zero mark is taken at the bottom point. More specifically, the low that followed the aforementioned top in the coins. Martinez then drew the Fibonacci Retracement levels between the two end points, with each line corresponding to some percentage retracement from top to bottom. It would appear that in PEPE’s case, the price bottom was followed by a recovery surge that topped above 0.5, the midway point of the Fibonacci scale. This high led into a retrace, but bullish momentum returned for the coin in 2024, resulting in a sharp explosion where its price far surpassed the 2023 top. From Pudgy Penguins’ chart, it’s apparent that something similar has been developing for it, as its price, too, has seen the pattern of a top above the 0.5 Fibonacci Retracement line, followed by a dip and now a rebound. The rebound in question corresponds to the altcoin’s impressive 50% rally over the past week. Even with this surge, however, the asset has only managed to return to the May high. While there has been some similarity between the two price charts, it should be noted that it’s not an exact mirror. For instance, the dip extended to 0.236 for PEPE, but the rebound came for PENGU before such a retracement could occur. With the rebound also not being as strong as PEPE’s so far, it only remains to be seen whether Pudgy Penguins’ surge would end up evolving into anything like the memecoin’s takeoff. As the analyst notes, “a daily close above $0.015–$0.017, and this train could be unstoppable.” Something that could also point toward a potential breakout for PENGU is this chart shared by Martinez earlier, showcasing that the altcoin has been traveling inside an Ascending Triangle over the last few months. Pudgy Penguins has recently climbed to the upper line of the pattern, situated around $0.015. Generally, breaks above the resistance line of an Ascending Triangle are considered to be bullish signals. So far, the coin hasn’t been able to surge past the line. PENGU Price At the time of writing, Pudgy Penguins is trading around $0.0148, up over 4% in the last 24 hours.

A set of NFT collections tied to Matt Furie, the creator of the Pepe meme, and the ChainSaw studio have been hit by a string of contract hijacks that led to more than $1 million being stolen. Attackers took control of mint contracts, drained revenue, and issued new tokens, wiping out value and leaving collectors stunned. Many fans were shocked to see the Pepe creator’s NFT projects targeted by attackers with deep access to mint functions. The theft wasn’t a one-time hit. It unfolded in stages, across multiple days and multiple collections, suggesting careful planning and a deep understanding of how the projects were structured. The fact that the attackers gained control from inside the contract level has triggered serious concerns across the NFT community. How the Attack Played Out It began in the early hours of June 18 when the Replicandy mint contract, part of ChainSaw’s ecosystem, was taken over. Ownership was quietly transferred to a new address. That gave the attacker full control. They emptied the mint funds and then reopened the contract to create new tokens. These were pushed out rapidly, flooding the market and crashing prices. 1/ Multiple projects tied to Pepe creator Matt Furie & ChainSaw as well as another project Favrr were exploited in the past week which resulted in ~$1M stolen My analysis links both attacks to the same cluster of DPRK IT workers who were likely accidentally hired as developers. pic.twitter.com/85JRm5kLQO — ZachXBT (@zachxbt) June 27, 2025 Just days later, the same playbook was used on three other ChainSaw-connected collections: Peplicator, Hedz, and Zogz. The total value drained was estimated at over $300,000 at that point, but tracking showed it didn’t stop there. The attacker moved the stolen funds through different wallets before cashing out through the MEXC exchange, all while staying several steps ahead of observers. On-chain researchers, including ZachXBT, tied the activity to wallets that had interacted with earlier contract exploits. Their analysis showed the process was not just opportunistic but systematic. DISCOVER: 9+ Best High-Risk, High-Reward Crypto to Buy in June2025 Suspicion Falls on Freelance Code Hires Things took another turn when investigators uncovered GitHub profiles linked to developers who appeared to be based in the U.S. but were using tools and settings associated with North Korea. VPN data and regional preferences raised red flags. The suspicion is that some of the contract access may have come from developers hired through open platforms, given control over sensitive systems without a full vetting process. Source: ZachXBT on X.com In a separate but similar incident, a newer NFT project called Favrr lost $680,000 under almost identical conditions. Their CTO vanished, and funds from the attack followed the same laundering pattern. This has fueled concern because people believe multiple projects may have been compromised through the same outsourcing channels. DISCOVER: Next 1000X Crypto: 10+ Crypto Tokens That Can Hit 1000x in 2025 Aftermath and Silence The Favrr team announced they would refund users and conduct a full review of their contract architecture. ChainSaw and Matt Furie have taken a different approach. They shut down public chat channels, removed contact forms, and left collectors guessing what, if anything, will be done. EthereumPriceMarket CapETH$294.03B24h7d30d1yAll time The floor prices of affected collections have collapsed. While some owners are hoping for a recovery plan, others have started writing off the tokens as a total loss. What It Says About NFT Security This incident highlights a bigger problem in the NFT space. Too many projects depend on external developers without the right security checks. Mint contracts are powerful tools. Once someone gets access, they can change the rules, unlock funds, and create or destroy value in minutes. Now, collectors are asking more questions before jumping into new drops. Who controls the contracts? How is code reviewed? What kind of security is in place? Without clear answers, this may not be the last time an entire community watches its assets vanish overnight. DISCOVER: 20+ Next Crypto to Explode in 2025  Join The 99Bitcoins News Discord Here For The Latest Market Updates Key Takeaways

Hackers stole over $1 million from Pepe NFT projects by hijacking smart contracts tied to ChainSaw studio and Matt Furie.

The attacks targeted multiple collections, draining funds and minting new tokens to crash floor prices across projects like Peplicator and Hedz.

Evidence suggests the breach came through freelance developers, with suspicious ties to North Korea and poor internal security practices.

A related exploit hit the Favrr NFT project for $680,000, following the same laundering path, raising fears of a broader vulnerability.

This highlights a growing risk in the NFT space, where project teams give unvetted contractors access to mint-level permissions without sufficient safeguards.

The post $1 Million Drained From Pepe NFT Projects in Coordinated Contract Hijack appeared first on 99Bitcoins.