Shiba Inu (SHIB) is back in the spotlight, as large investors, known as “whales,” have been actively trading the popular meme coin. Over $1.51 billion worth of SHIB transactions were recorded recently, sparking curiosity about a potential bullish rally.
Key Highlights
- Massive Transactions: Blockchain data revealed that 332 large SHIB transactions, each worth over $100,000, were executed last week. One notable transfer involved 4 trillion SHIB tokens (valued at $99 million) moving between anonymous wallets on November 14.
- Coinbase Transfers: Days before this, 1.6 trillion SHIB tokens were sent to Coinbase from an anonymous wallet through three transactions, further fueling speculation.
- Whale Dominance: Large holders now control over 73% of SHIB’s total supply, and their activity has increased during recent market dips. This suggests that whales are accumulating SHIB, possibly anticipating a future price increase.
- Price Movement: Despite this flurry of activity, SHIB’s price only dipped by 2% in the last 24 hours, staying relatively stable in the short term.
What’s Next for SHIB?
The significant whale movements could indicate preparation for a price rally, but it remains unclear if the market will respond with a bullish trend. Investors are closely watching these developments for clues about SHIB’s future trajectory.
Stay tuned as Shiba Inu continues to captivate the crypto community with its dynamic activity!
Disclaimer: Cryptocurrency investments are highly volatile and carry risks. Always conduct thorough research before investing.
- Bar Graph: Highlights key SHIB whale transactions, showing their value in millions of USD.
- Pie Chart: Displays the percentage of SHIB supply controlled by whales (73%) versus other investors (27%).