Shiba Inu Whales Are Accumulating SHIB Quietly—Can Price Reach $.0.00005?


In recent days, Shiba Inu (SHIB) has seen little price volatility and a 6% gain in the previous 24 hours. The period has seen modest price volatility despite massive on-chain moves.


The tendency may have increased SHIB accumulation among major holders. The buildup has inspired ideas of a bullish upside for SHIB, similar to February's surge.


Shiba Inu (SHIB) has seen considerable whale trades, indicating increased activity by major holdings. Wintermute, a notable market maker, recently withdrew $1 million in SHIB from Robinhood.


On-chain data also shows a pattern of massive transactions, suggesting whales are collecting SHIB at low rates in expectation of a price spike. Large SHIB transactions, defined as those above $100,000, have increased 71% in the previous 24 hours, according to IntoTheBlock.


These huge deals have topped 2.1 trillion SHIB, worth $30 million, in the previous 24 hours, according to this statistic.


Crypto enthusiasts have seen this whale activity spike. A TradingView SHIB study viewed the price activity as smart actions by significant SHIB holders taking advantage of the restricted price range. This is a common SHIB whale pattern that precedes price rallies.


Analyst CryptoCheck compared the present price activity to the November 2023–January 2024 accumulation, which resulted in a 330% breakout in February, using the Wyckoff Accumulation Method. Due to these parallels, CryptoCheck predicts a similar breakthrough from continuous accumulation. The estimated price objective is $0.00005, a 240% increase from the current price.

According to the latest report, Shiba Inu is rallying as money floods the cryptocurrency market. The 13th biggest cryptocurrency by market value rose 15% last week, outpacing several other major crypto currencies. The rise in value matches whale activity, which has boosted SHIB sentiment.

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