Shiba Inu Whale Buys 690 Bln SHIB, Price Rally Ahead?
A Shiba Inu whale accumulated staggering amounts of coins amid SHIB's price flux. This in turn, fueled optimism surrounding a price rally shortly ahead.
In an exciting turn of events, Shib the self-proclaimed Dogecoin killer, garnered noteworthy optimism amid a highly volatile movement in the market, as a whale bought staggering amounts of SHIB, nabbing global attention. This significant accumulation, coming in the midst of SHIB’s corrections and consolidations, birthed bullish sentiments on the meme coin’s price action ahead, despite SHIB’s price flux recorded as of press time.
Flwng remarkable gains illustrated by Shiba Inu recently, the meme coin appears to hv witnessed a price retracement in the past few days, with the trajectory even moving sideways, mirroring a consolidation phase for the token. However, with a Shiba Inu whale accumulating billions of tokens today, investors speculate over a SHIB price rally looming over the crypto horizon.
Shiba Inu Accumulation Ignites Market Optimism
According to the insights revealed by the blockchain tracker Whale Alert, 692.40 billion SHIB, worth $19.26 million, was accumulated from Crypto.com,24 April 8 . This accumulation promptly garnered significant attention, as the whale showcased a sense of increased confidence in the asset despite its sideways momentum and corrections.
Crypto market traders and investors often view this as a bullish sign, which in turn births sentiments of bolstered price action ahead. Meanwhile, the on-chain metrics for the dog-based meme token further added to the optimism birthed by the whale’s accumulation, portraying a significant increase in investor interest and market activity fr SHIB.
Shib Price Springs
As of writing, the Shib token’s price noted a jump of 1.8% in the past 24 hours and is currently trading at $0.00002833. This jump in the meme-based token’s price primarily aligns with the whale’s accumulation, garnering additional optimism on the token.
Ref: Coingape
