Shiba Inu Sees Major Whale Movements
Trillions of SHIB on the Move
SHIB‘s price began to fall after sales earlier in the week but showed upward movements as the week progressed. By the weekend, SHIB rose to just below a resistance of $0.000028. Particularly noteworthy was the transactions conducted by whales on the chain. In the last 24 hours, 3.19 trillion SHIB were seen moving.
According to data from IntoTheBlock, Shiba Inu transactions over $100,000 saw a significant increase last week, reaching a total value of $661.5 million. On April 19 alone, these large transactions were worth $144.76 million, pointing to 6.36 trillion SHIB. Especially in the last 24 hours, large transactions reached $82.49 million worth of 3.19 trillion SHIB.
Where Are Whales Sending SHIB?
In an environment where such a large amount of SHIB is moving, the real question is where the whales are sending their tokens. On-chain data shows transactions reflecting the mixed feelings of major holders. It is indicated that there are both inflows to and outflows from exchanges.
A particularly notable transaction was the transfer of 100 billion SHIB tokens to a cryptocurrency exchange on Sunday. This situation points to the possibility of the whale potentially making a sale and a short-term price drop among investors.
What’s the Current Status of SHIB’s Price?
According to current data, SHIB is trading at $0.00002685, up 6.65% in the last 12 hours. At the same time, Shiba Inu has gained 16% in value over the last seven days, rising in market value ranking and steadily moving to take Cardano‘s place.
This week, SHIB’s price movement could become even more active as bulls test the resistance level of $0.000028. According to data from IntoTheBlock, 6.62 trillion SHIB tokens were purchased at this price level. 28,760 addresses are expecting to make a profit. This situation points to a journey towards other resistance levels like $0.000029 and $0.000030.
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