💥💥💥 #shibaInu #Whales 🐳🐳🐳 Scoop up 5.58 Trillion $SHIB in Single Day
Shiba Inu (SHIB) Whales Intensify Accumulation, Signaling Potential Growth
- Shiba Inu (SHIB) whales have significantly increased their accumulation of the #cryptocurrency . Data from the crypto analytics platform IntoTheBlock shows that large whale transactions accounted for 73.72% of all SHIB transactions within a 24-hour period. In this timeframe, 327 large transactions were recorded, setting SHIB on a promising growth trajectory.
Whale Activity and Market Impact
- In terms of volume, Shiba Inu whales acquired a total of 5.58 trillion SHIB in 24 hours, valued at $145.48 million. This substantial activity places Shiba Inu among the most traded tokens by whales this week. Whale transactions, defined as those worth at least $100,000, highlight the growing attractiveness of SHIB. The massive acquisition of over 5.5 trillion tokens is expected to create a supply crunch, potentially supporting the recent bull rally.
Current Market Performance and Challenges
- Despite these positive signals, the overall Shiba Inu protocol faces challenges. After a 10% surge in a single day, surpassing the 50-day EMA, SHIB's price struggled to maintain its momentum. As of now, Shiba Inu is priced at $0.00002612, up 2.72% in the past 24 hours. The token is striving to break above its current price range and approach the $0.00007 mark, supported by an aggressive burn rate and Shibarium transaction growth.
Future Outlook
- Shiba Inu's recent activities suggest it is moving in tandem with the broader market, albeit at a slower pace. However, expectations remain high for a long-term breakout. The token's growth efforts, coupled with the deflationary measures and whale accumulation, position SHIB for potential upward movement in the market.
Source - u.today
