Shiba Inu Surges Amid Whale Activity: Is Shib Heading for 0.0001?

June 6, 2024

In a whirlwind of market activity, Shiba Inu has experienced a significant surge following increased interest from whales. This surge has sparked speculation among enthusiasts, with some anticipating a substantial rise in value.

According to market intelligence platform Santiment, the volume of transactions involving $100,000 or more worth of Shiba Inu has more than doubled this week compared to the typical averages so far this year. This surge in whale activity suggests an accumulation of SHIB among major investors. In the past 24 hours alone, nine wallets, two of which are considered whales due to their significant holdings, have collectively invested a staggering $35.2 million to acquire approximately 1.356 trillion SHIB tokens.

The cryptocurrency community has been abuzz with speculation regarding the future trajectory of Shiba Inu. Shib Knight, a prominent figure on X (formerly Twitter) known for their insights into the Shiba Inu market, has expressed optimism about the cryptocurrency’s potential for further growth. In a recent tweet, Shib Knight asserted their belief that Shiba Inu could reach the milestone of 0.0001 by the end of June.

“Bitcoin is rising and it will cool off at some levels,” Shib Knight told The Shib Daily. “After that altcoins will start to rise and Shiba will be one of the first to pump. Shib is famous for its huge pumps. Whales are aware of it and they follow smart money, so they’ve been accumulating Shib.”

They emphasized that according to chart analysis and Fibonacci levels, “Next target after the Shib ATH is 0.0001. The other target is even higher, which is 0.00013. I think it will reach 0.0001 and beyond at this bull season.”

This bullish outlook has fueled excitement among Shiba Inu holders and traders, many of whom are closely monitoring market developments in anticipation of potential gains. The surge in whale activity, coupled with optimistic forecasts from influential voices within the community, has contributed to a renewed sense of optimism surrounding Shiba Inu’s prospects.

Disclaimer: Saha Swatilakha has positions in SHIB, BTC, ETH, LTC, BCH, USDT, MATIC, DOGE, SOL, TRX, XRP, BNB, etc. This article is provided for informational purposes only and should not be construed as financial advice.

The Shib Magazine and The Shib Daily are the official publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

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