Based Eggman (GGs) challenges SHIB as investors shift toward utility-driven memecoins built on real ecosystem value.

The power structure of the memecoin world has changed a lot. Shiba Inu coin (SHIB), which used to be very popular as a “Dogecoin Killer,” is losing steam, which was a significant thing during the 2021 bull run. The prices have been hard to get back to where they were before, and the community’s joy has diminished because construction is going so slowly and in parts. 

In this open arena, a new rival has arrived, not just to compete, but also to set a new standard for what a successful memecoin should be. Based Eggman (GGs) is swiftly capturing the attention — and money — of SHIB investors who are unhappy with their investments. This puts it in a good position to get back the explosive growth that used to define its opponent. This analysis looks at Based Eggman GGs and SHIB to figure out why one project is stuck, and the other is meant to explode out.

The stagnation of Shiba Inu coin: A record of broken promises

Shiba Inu made history with a huge surge, but its current route reveals how hard it is to keep a legacy memecoin running.

• The “Ghost Chain” Problem of Shibarium: Shibarium, SHIB’s Layer-2 solution, was expected to revolutionise the game by lowering fees and making new uses possible. But not many people have used it yet. The ecosystem hasn’t been able to get many significant, independent projects to join, which means that a lot of the use cases it promised haven’t happened. A lot of people are thinking of a “ghost chain,” which is infrastructure that doesn’t have a vibrant economy.
• Not being able to focus and being tired of the community: There are a lot of tokens (SHIB, BONE, LEASH, TREAT) and projects (ShibaSwap, Shiboshis) in the SHIB ecosystem. This dilution sometimes confuses new investors and makes it hard for the community to stay on track. Diversification can be wonderful, but it can also make people not care if there isn’t a clear, focused momentum. The SHIB price’s persistent attempts to break through crucial resistance levels reveal that it is exhausted.
• The Market Cap Anchor: SHIB’s high market cap is now its worst enemy, just like Dogecoin’s was before it. For new investors to obtain the same 100x or even 10x returns, they need to bring in a lot more money than a smaller, newer business does. The rule of decreasing returns is now firmly in force.

Because of this, a group of SHIB holders is trapped with their bags and is actively looking for the next project that can bring back the community-driven fun they had at the beginning. They are looking for Based Eggman.

The blueprint SHIB wanted Based Eggman to have a presale

Based Eggman (GGs) is not trying to kill SHIB. It is pursuing a better, more up-to-date plan that fixes the issues that have been holding SHIB back. It depicts what a memecoin for the next generation should be: useful first, lean, and focused.

1. The unbeatable launch strategy: The CEX listing catalyst

SHIB is slowly developing on DEXs and its own chain, but Based Eggman has made it easier for people to get into the market. The Based Eggman CEX Listing, which is coming up in the second quarter of 2026, is a scheduled event to add liquidity. This is the nicest thing that could happen to consumers who buy before the sale. Anyone can get in on the ground floor price of GGs tokens (CA: 0x7f23e5fc401bdfcdc9ad3970ff52f65de73ba8ed) now, before they go on sale on a big exchange. In the past, this has caused prices to go up a lot.

2. Lean, focused utility on superior infrastructure

Based Eggman doesn’t fall into the trap of dilution. The first thing it does is set a clear, singular goal: to be the gas and governance token for its ecosystem, which is based on Coinbase’s Layer-2, Base. This gives you perks right now that SHIB doesn’t have:

Low expenses and immediate scaling: Base offers institutional-level scalability and nearly no transaction costs right away. This is not like the slow and costly problems that early SHIB and even current Shibarium customers had to deal with.

The Based Eggman’s GGs dashboard is a great approach to get people involved because it interacts with the Shibarium blockchain. This makes it easier for SHIB holders to maintain track of their Shibarium assets in the Based Eggman ecosystem. It also makes it easier for new users to join and welcomes SHIB veterans.

Limited Supply: There are only 389 million GGs tokens available, therefore it’s a wonderful choice for people who desire something that’s hard to get. This is extremely different from SHIB’s approach, which has a quadrillion-supply and needs big burns all the time to keep prices up.

3. Bringing back the community spirit

Based Eggman’s Presale is bringing back the fierce, dedicated ethos that made early SHIB so great. The processes are clear: a presale, staking activation, a listing on a CEX, and expansion of the ecosystem. There is no confusion, and the tokenomics are not broken. This clarity is attracting SHIB holders who miss the days when everyone had the same goal, and it was easy to see how to attain it.

The memecoin decision: GGs vs. SHIB

It’s easy to tell the difference:

Shiba Inu (SHIB) is a well-known but old project that is having problems because it is too big, its ecology isn’t growing quickly enough, and there are too many things to do. It will grow slowly and be connected to the bigger market.

Based Eggman (GGs): A presale projectile with a timed ignition sequence (CEX listing), built on superior tech (Base), featuring smart integrations (Shibarium dashboard), and optimised for viral, focused growth.

The energy has shifted. SHIB isn’t “dead,” but the days of easy, large multiples are over. Capital and community energy are gravitating towards projects that show a clear, modern path to move forward.

In conclusion, the presale window is the new battlefield.

People who used to be in the SHIB army and want to know where the next 100x memecoin chance is should not wait for an old project to learn how to run again. It’s important to know what the planned benefit of a presale like Based Eggman is.

Based Eggman isn’t just a new memecoin; it’s a new way of doing things. It provides SHIB holders with what they’ve been asking for: a fresh start with professional execution, a large event that is sure to happen, and a community-focused vision based on better technology. The Based Eggman Presale is where the memecoin momentum that was lost is now centred. This is the best trade between GGs and SHIB for 2026.

For more information, visit the official website, blog, X, and Telegram.

Kraken has expanded its institutional reach by linking its over-the-counter (OTC) desk to ICE Chat, Intercontinental Exchange’s real-time messaging platform used by banks and trading desks. Announced February 17, 2026, the arrangement makes Kraken the first cryptocurrency platform to be approved for ICE Chat, enabling quote requests and negotiations to flow directly within a system that aggregates more than 120,000 market participants. The move positions Kraken’s liquidity alongside traditional assets across a familiar workflow, signaling a broader push to incorporate digital assets into mainstream financial-market infrastructure. The OTC desk at Kraken handles large block trades in crypto spot and options, and the partnership with ICE is expected to evolve as institutions look for deeper, more integrated access to crypto liquidity.

Key takeaways

• Kraken’s OTC desk is now integrated with ICE Chat, enabling institutional traders to access Kraken’s crypto liquidity directly through a widely used messaging platform.
• ICE Chat connects more than 120,000 market participants, including banks, brokers, and trading desks, allowing real-time deal negotiation within established workflows.
• Kraken is the first crypto platform approved to connect to ICE Chat, situating digital asset liquidity alongside traditional asset classes.
• The integration is expected to expand over time, reflecting broader efforts to embed digital asset trading into traditional financial-market infrastructure.
• ICE’s broader crypto initiatives include on-chain data collaborations, large-scale investments in crypto markets, and potential partnerships with wallet and payments providers, signaling a more integrated financial ecosystem.

Market context: Link the story to broader crypto conditions (liquidity, risk sentiment, regulation, ETF flows, macro, or sector trends) WITHOUT inventing facts.

Why it matters

The Kraken-ICE Chat linkage marks a notable step toward deeper institutional access to crypto liquidity. By enabling quote requests and negotiations to occur within ICE’s established messaging network, hedge funds, asset managers, and banks can integrate crypto trading into their existing workflows without resorting to separate channels or processes. The arrangement reduces friction for large crypto block trades, a key consideration for participants handling significant volumes in both spot and options markets. In practical terms, traders can coordinate, price, and settle trades within a single, familiar interface, potentially improving execution efficiency and speed while preserving governance and compliance controls.

The move also highlights ICE’s broader strategy to bring digital assets into mainstream capital-markets infrastructure. ICE operates ICE Chat, the New York Stock Exchange, and a suite of data, clearing, and technology services. Its push into crypto markets aligns with the industry-wide trend of bridging traditional finance with digital assets, leveraging established market infrastructure to widen participation and liquidity. In recent months, ICE has pursued a series of crypto-related initiatives, including a collaboration with Chainlink to pull FX and precious metals data on-chain, substantial investments in crypto-native ventures, and explorations into crypto payments capabilities. These steps underscore a broader ambition to weave crypto more deeply into the fabric of conventional trading and risk management.

The partnership comes amid a wider set of tokenization and on-ramp developments across major exchanges. Nasdaq has signaled a willingness to explore tokenized equities through regulatory channels, while the NYSE has discussed plans to operate a 24/7 trading platform for tokenized stocks and ETFs, integrating traditional post-trade settlement with blockchain-based processes. These efforts reflect a synchronous push from traditional venues toward digitized asset classes, where liquidity, transparency, and execution efficiency are often cited as critical advantages. The ecosystem is evolving rapidly, with market participants watching how these initiatives will interact with evolving regulatory standards and the pace of adoption by institutional users.

The timing of Kraken’s announcement overlaps with other notable industry moves. Earlier in the year, Kraken pledged to support a government-backed initiative to create “Trump Accounts,” a savings program for Americans under 18—an effort that reflects the broader intersection of crypto policy and retail-facing programs. This backdrop illustrates how crypto firms are navigating public policy while expanding their institutional capabilities, seeking to demonstrate value beyond consumer-focused products and toward core market infrastructure.

Why it matters (continued)

The integration could help amplify liquidity for large crypto trades by tapping into ICE’s global network, potentially reducing spreads and improving price discovery for institutional participants. It also signals to regulators and incumbents that crypto liquidity can be treated as part of the same market ecosystem that handles equities, bonds, and other traditional asset classes. For Kraken, the collaboration with ICE Chat may expand its reach among asset managers who prefer operating within standardized, risk-managed environments—furthering the normalization of digital assets within regulated financial marketplaces.

What to watch next

• Expansion updates: Follow announcements about extending ICE Chat access to additional Kraken clients and other Kraken desks or counterparties.
• Broader ICE crypto initiatives: Monitor developments tied to ICE’s data services, on-chain integrations, and potential partnerships in payments or custody.
• Tokenization momentum: Track regulatory progress and product launches related to tokenized stocks and ETFs at Nasdaq and NYSE, which could influence liquidity and settlement paradigms.
• Data and settlement enhancements: Look for updates on ICE’s Consolidated Feed and how it interoperates with on-chain data streams and DeFi-native pricing mechanisms.

Sources & verification

• Kraken Integrates with ICE Chat to Expand Institutional OTC Access — Business Wire press release (official announcement of the integration).
• ICE Chat and Market Participation — ICE corporate communications outlining the platform’s reach beyond traditional markets.
• Chainlink and ICE Forge On-Chain Data Collaboration — Cointelegraph coverage detailing ICE’s data-on-chain initiative.
• ICE Invests in Polymarket — Cointelegraph reporting on ICE’s $2 billion investment and the valuation context.
• Nasdaq and NYSE tokenization efforts — Cointelegraph coverage of Nasdaq’s tokenized-stocks push and NYSE’s plans for 24/7 tokenized-trading platform.

What the announcement changes

The Kraken-ICE Chat integration represents a concrete step in the ongoing evolution of institutional crypto access. By embedding Kraken’s liquidity within ICE’s established communications platform, the move lowers barriers for large-scale crypto trading and aligns digital asset execution with the workflows many institutions already use for other asset classes. The collaboration reinforces the idea that cryptos are not merely retail instruments but elements of a broader, interconnected market infrastructure that includes data, clearing, risk management, and settlement. As the ecosystem expands, institutions may increasingly rely on a combination of on-chain data, centralized exchanges, and OTC desks to manage exposure, price risk, and execution efficiency across diverse crypto products.

What to watch next

• Monitoring quarterly updates from Kraken and ICE for new client onboarding and expanded platform access.
• Regulatory developments affecting crypto-asset trading infrastructure and tokenized securities, including any policy shifts impacting tokenization and cross-market liquidity.
• Progress on ICE’s partnerships with data providers and on-chain data feeds, and how these integrations affect price discovery and risk management.

Bitcoin’s price action is hovering near a level where weaker holders exit and stronger hands begin accumulating historically.

Bitcoin has remained rangebound between $60,000 and $70,000, as choppy trading continued to reflect fears of a further downside move. Fresh data highlights risk building near Short-Term Holder Realized Price bands.

These areas have historically witnessed the start of accumulation and emerging opportunities for global market participants.

High-Risk, High-Opportunity Zone

According to Alphractal, Bitcoin is currently trading within a tight range defined by the Short-Term Holder Realized Price, and its price action is trapped between key support and resistance levels. In recent weeks, BTC has closely respected the -1σ and -1.5σ deviation bands.

Previous instances reveal that when the crypto asset breaks below the lower blue deviation band, the market typically sees one of two outcomes. Either the formation of a local bottom or a deeper capitulation phase, followed by accumulation. These deviation bands have consistently acted as natural support and resistance across multiple market cycles. To top that, the -1.5σ level has repeatedly represented periods of maximum stress, where selling pressure from short-term holders intensifies, and longer-term participants begin accumulating.

Against this backdrop of high short-term holder stress, Alphractal founder Joao Wedson pointed to a longer-term metric that may indicate the market is not yet at a historical turning point. The Net Unrealized Profit/Loss (NUPL) metric for long-term holders, which tracks whether the most resilient investors are sitting on unrealized gains or losses, currently stands at 0.36, which means that long-term holders remain in profit despite recent volatility.

Upon looking at past cycles, Wedson found that the clearest late bear-market signal tends to emerge only when this metric turns negative, a condition associated with extreme pessimism and seller exhaustion. Such phases have marked the end of bear markets, rather than the start of a new bull cycle.

Miners Reduce Exchange Exposure

As Bitcoin trades near crucial stress levels, further on-chain data shows miners adjusting their positioning amid ongoing market pressure. Data shared by CryptoQuant depicts a significant change in miner behavior as more than 36,000 Bitcoin were withdrawn from exchanges since the beginning of February.

You may also like:

The pace of withdrawals has accelerated compared to previous months, which points to changes in holding strategies or liquidity management. Of this total, over 12,000 BTC were withdrawn from Binance, while more than 24,000 BTC were spread across other exchanges, indicating that it’s not an isolated activity. Such movements are typically associated with transfers to long-term storage, as miners move assets off exchanges into cold wallets, and reduce immediate sell-side supply.

Daily withdrawals peaked above 6,000 BTC, the highest level since November, and significantly exceeded January levels. This means that miners may be repositioning against the backdrop of the current market uncertainty.

Solana remains under sustained pressure as broader market conditions deteriorate. SOL has extended its downtrend for several weeks, reflecting reduced investor confidence. 

Recent on-chain data reveals a surge in exchange-directed supply. Roughly $202 million worth of SOL has moved to trading platforms since the beginning of the month. This wave of selling has intensified bearish momentum and revived capitulation signals not observed since 2022.

Sponsored

Sponsored

Solana Holders Are Selling

Active deposits on the Solana network have started declining after a sharp rise earlier this month. This metric tracks tokens transferred to exchanges, often signaling intent to sell.

Despite moderating deposit flows, exchange balances continue to reflect elevated supply. Over the past 17 days, exchange wallets have added 2.35 million SOL. At current prices, this increase equates to approximately $202 million in additional sell-side liquidity.

Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here.

Rising exchange reserves generally amplify downward pressure. Larger balances make it easier for traders to execute sell orders. However, this influx has also triggered a historical capitulation signal. Similar spikes in exchange supply previously aligned with late-stage bear market conditions.

Sponsored

Sponsored

The MVRV Pricing Bands provide critical valuation context. Solana’s price is currently trading below the Extreme Lows deviation band. For this classification, the Market Value to Realized Value ratio must stay below 0.8 for roughly 5% of trading days.

SOL has remained beneath that threshold for 26% of recent sessions. This confirms a prolonged undervaluation phase. The only comparable event occurred in May 2022. Following that period, Solana remained depressed for 17 months before staging a meaningful recovery.

SOL Price Downtrend Continues

Solana is trading at $86 at the time of writing. The token remains capped below the $90 resistance while holding above the $81 support zone. A move above $90 would intersect the prevailing downtrend line, signaling potential technical improvement.

However, current data suggests downside risk persists. Continued exchange inflows and weak macro momentum could pressure SOL further. A decisive break below $81 may expose the next support near $67, extending the drawdown.

Alternatively, reclaiming $90 would shift short-term sentiment. A breakout above the descending trendline could attract renewed capital inflows. If momentum strengthens, SOL may rally toward $105 and potentially higher, invalidating the prevailing bearish thesis.

US-based crypto exchange Kraken has integrated its over-the-counter desk with Intercontinental Exchange’s ICE Chat, enabling institutional traders to access Kraken’s crypto liquidity directly through a messaging platform widely used across global financial markets.

ICE Chat connects more than 120,000 market participants, including banks, brokers and trading desks that use the system for real-time deal negotiation and execution. The integration allows those clients to communicate directly with Kraken’s OTC desk within their existing trading workflows.

Kraken said it is the first cryptocurrency platform approved to connect to ICE Chat, placing its crypto liquidity alongside traditional asset classes within established institutional communications infrastructure.