Ethereum Price Falls Below $3,000 Amid Whale Sales and ETF Outflows

Ethereum Price Decline

On December 16, Ethereum's price dropped by 6.73%, falling below the $3,000 support level.
Analysts predict potential further declines due to strong market sell-off and whale activity.
Analyst Ted Pillows highlights lack of nearby support levels, suggesting ETH must reclaim $3,000 to avoid falling below $2,800.
Crypto Patel notes rejection at the $3,400 fair value gap, emphasizing $2,600 as a critical support level.
Long-term outlook remains positive with targets between $10,000 and $15,000 in one to two years.

Ethereum Whale Activity and ETF Outflows

Significant ETH sales by whales amounting to $41.02 million contribute to bearish sentiment.
Massive outflows from Ethereum ETFs, particularly BlackRock’s, with net redemptions of 47,463 ETH, equivalent to $139.26 million.
Despite outflows, trading activity was high at $1.3 billion; BlackRock deposited an equivalent amount back to Coinbase.

Maxi Doge Meme Coin

Maxi Doge (MAXI), a meme coin, raised over $4.3 million.
Tokenomics: MAXI priced at $0.0002735 with a funding cap of $15.76 million during presale.
40% of total supply available for public investors; will be listed on decentralized exchanges post-presale.