Whale Moves 800 Billion SHIB in 1 Minute: Big News, Shiba Inu Price Prediction

SHIB has lost 6% in 24 hours, bringing the Shiba Inu price to $0.00002401 as the crypto market fell 1.5%.

Despite a 2% weekly gain, the meme currency has dropped 10% in two weeks and 15% in 30 days.

However, SHIB has gained 150% in the last year and remains popular with traders despite its ups and downs.

Today's rise followed a whale's 875 billion SHIB transfer from Robinhood on May 2, indicating that the meme currency might rebound shortly.

The purple relative strength indicator fell as low as 35 this morning, but it has since risen near 50, indicating that SHIB's cheap price is enticing buyers.

SHIB's 30-day moving average (orange) is close below its 200-day (blue), indicating additional losses.

It also suggests a bottom is near and the currency will shortly return.

Additionally, SHIB's resistance (red) and support (green) levels are converging, which is promising.

Convergence usually generates a pinch point that compels an asset to shift significantly in either direction.

SHIB has been punished enough in recent days, so this decision should be helpful.

In the tweet above, one huge trader acquired $20 million in SHIB a few days ago, which whales may anticipate.

Smart money expects SHIB to rise shortly, and where whales lead, retail follows.

The larger market will assist SHIB gain in the next weeks and months, since rate cuts will revive the crypto market.

Since its creators raised $12 million for a privacy-focused layer-three network, Shiba Inu may have the best meme token foundations.

Thus, by summer's end, Shiba Inu might hit $0.00004.

#CryptoWatchMay2024 #Memecoins #SHIB $SHIB