A Shiba Inu (SHIB) investor has gone on a massive buying spree, injecting nearly $20 million into the meme coin. This bold move comes as SHIB’s price has surged in the last day. Meanwhile, crypto expert Austin Hilton predicts a period of consolidation for SHIB, with growth expected later in the year, aligning with Bitcoin’s anticipated bull run.
SHIB Whale Transaction
According to data from onchain analytics firm Lookonchain, this savvy investor has poured 4,849 ETH ($18.44 million) into acquiring 715.9 billion SHIB tokens in just six hours at the time of the report. This isn’t the first time this whale has made such a move.
Previously, they turned a modest $400,000 investment into a $121 million during two market peaks. Significantly, this investor’s previous SHIB trades netted them over $120 million in profits, showcasing their astute market timing.
Besides, their latest buying frenzy has undoubtedly contributed to SHIB’s current price rally. CoinGecko data reveals that SHIB is trading at $0.00002618, a 10.24% rise in the last day, with a daily trading volume of $789,303,614.99.
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Shiba Inu (SHIB) Price Prediction
However, despite this bullish activity, crypto analyst Austin Hilton foresees a period of consolidation for SHIB. In his YouTube analysis, Hilton, who boasts over 270,000 subscribers, projects minimal price fluctuations for SHIB through June and July.
He bases this prediction on historical trends, noting that these months typically see subdued activity in the crypto market. Moreover, Hilton points to BTC’s influence on SHIB’s trajectory.
Besides, he explains that Bitcoin’s halving cycle is entering a consolidation phase, which is likely to keep SHIB’s price stable in the short term. Nevertheless, he is optimistic about SHIB’s prospects, drawing parallels with Bitcoin’s anticipated surge later in the year.
Additionally, Hilton’s analysis includes a compelling prediction for Bitcoin’s future performance. He suggests that from September to October, Bitcoin could skyrocket from around $70,000 to $150,000-$200,000 range. This bullish outlook for Bitcoin is expected to have a ripple effect, potentially propelling SHIB’s value upward as well.
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The post Meme Coin Whale Goes on a SHIB Buying Spree, Invests Almost $20 Million: Shiba Inu Price Prediction appeared first on CaptainAltcoin.