The super Shiba Inu whale has sparked market discussions through token accumulation. Analysts predict a target price of 0.000037 USD for SHIB.
A large Shiba Inu whale has once again drawn widespread market attention as it was recorded making a significant purchase of meme tokens on Friday. According to on-chain data, this trader suddenly increased their holdings of SHIB worth approximately 21.72 million USD after a month of inactivity. This large-scale accumulation has sparked heated discussions in the market.
Market observers believe that this large purchasing behavior may drive the SHIB price further upward. The main reason is that, with significant accumulation and a bullish sentiment in the cryptocurrency market in the fourth quarter, investors generally expect SHIB to continue receiving attention and possibly see price increases.
The large holdings of the Shiba Inu whale have significantly increased, indicating that more profits are on the way.
According to on-chain data from Arkham Intelligence on November 29, a super Shiba Inu whale has seized 9.8196 billion SHIB from the cryptocurrency exchange Coinone, worth approximately 2.54 million USD. This transaction occurred against the backdrop of significant trading activity at this address (0x9d9f..), marking the return of whale activity.
More strikingly, this large-scale accumulation occurred after a month of inactivity at this address. Data shows that since June of this year, this holder has accumulated 83.63 million Shiba Inu tokens from the same cryptocurrency exchange, with an average accumulation price of 0.00001842 USD.
Additionally, on-chain data shows that this trader also holds meme tokens worth nearly 22 million USD. This large accumulation behavior has sparked widespread market attention, with increasing purchases and heightened interest in the asset, leading investors to generally expect the price of these tokens to continue rising.
Will the SHIB price reach 0.000037 USD?
As of the time of writing, the price of Shiba Inu has increased nearly 2% during the trading session, trading at 0.00002595 USD. The 24-hour low and high prices for the token were 0.00002494 USD and 0.00002609 USD, respectively. Notably, the weekly and monthly charts for this cryptocurrency show increases of 5% and 39%, respectively. Overall, the significant purchases mentioned above indicate that this meme token aligns with the bullish trend of market optimism.
It is also worth mentioning that the token burn mechanism of the cryptocurrency seems to be driving the price trend. CoinGape Media reported that the SHIB burn rate has recently surged, increasing optimism about future trends.
Furthermore, CoinGape Media's analysis of Shiba Inu emphasizes that the target price for this token is 0.000037 USD. This optimistic outlook mainly stems from BTC's price reaching 100,000 USD during this bull market. Additionally, broader market sentiment remains positive about future prices, with bullish factors further suggesting that this token may soon rise to 0.000037 USD.