Gushiken Yona
Shiba Inu (SHIB) has experienced a surge in whale activity in recent days, with large holders strategically transferring over 2 trillion SHIB tokens among leading crypto exchanges. This move has sparked speculation that whales are accumulating SHIB at current low prices, potentially positioning themselves for a future price increase.
According to on-chain data from Arkham Intelligence, these SHIB tokens were not simply held but were actively transferred between various exchanges, suggesting a deliberate and strategic approach. This whale activity has coincided with a broader trend of large SHIB transactions, indicating that more investors are accumulating the token at its current price level.
Data from IntoTheBlock revealed a significant spike in large SHIB transactions, defined as those exceeding $100,000. In the past 24 hours alone, the volume of these substantial trades has surged by an impressive 71%. This metric, which specifically tracks these large transactions, shows that over 2.1 trillion SHIB tokens, worth approximately $30 million, have been traded in large transactions during this period.
The increased whale activity and the surge in large SHIB transactions suggest that whales may be positioning themselves for a potential increase in the price of SHIB. With the token currently trading at $0.000015 and showing signs of stabilization after a prolonged decline, whales may be capitalizing on the current low prices to accumulate a significant amount of SHIB.
One possible explanation for the whale activity is that these large holders may be anticipating a future price increase for SHIB. By accumulating a significant amount of tokens at the current low prices, whales could potentially profit substantially if the price of SHIB rises in the future. Additionally, whales may be using their influence to manipulate the market, driving up the price of SHIB through their large transactions.
While it’s important to note that these are just speculations, the increased whale activity and the surge in large SHIB transactions suggest that there is growing interest in the token among large investors. As SHIB continues to evolve, it will be crucial to monitor its price action and whale activity to gain insights into its future potential.
As of 12:42 a.m. ET on Monday, Shiba Inu (SHIB) was trading at $0.00001509. Despite a slight 1.14% decline in the past 24 hours, SHIB has exhibited a strong uptrend over the past week, surging by 14.52%. However, the 30-day trend shows a more mixed picture, with a 9.90% decrease.
Shiba Inu’s market capitalization currently stands at $8.88 billion, supported by a circulating supply of 589.27 trillion SHIB tokens, data from CoinMarketcap showed.
The recent price action of SHIB suggests a potential bullish trend, with the 7-day and 30-day trends showing significant gains. However, the short-term volatility indicates that the market remains uncertain. Investors should closely monitor developments within the Shiba Inu ecosystem, such as new partnerships, product launches, or community initiatives, as these could significantly impact the price.
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Yona has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Daily is an official media and publication 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.
