Exciting News: Three Whales Acquire 184 Billion Shiba Inu (SHIB)
Despite the recent downtrend in the crypto market, there is a bullish development in Shiba Inu as three whales were observed purchasing a significant amount of SHIB tokens amidst the dip to $0.000026. This activity signals a potential opportunity for investors and may lead to a price recovery for SHIB.
The Data Nerd reported that three wallet addresses collectively withdrew 184 billion Shiba Inu (SHIB) tokens, totaling approximately $5 million, from the popular crypto exchanges Binance and Coinbase in the last 24 hours. This move has garnered attention within the crypto community as it suggests a positive sentiment towards SHIB.
Whale Purchases Breakdown
- 0x5913 Wallet: Purchased 75.018 billion SHIB valued at $2 million from Coinbase in six transactions during the dip.
- 0xf770 Wallet: Acquired 37.139 billion SHIB worth over $0.99 million from Binance in a single transaction, resulting in significant gains.
- 0x6dFE Wallet: Bought 71.832 billion SHIB worth $1.91 million from Coinbase in four transactions, taking advantage of the lower prices.
SHIB Price Movement
Shiba Inuโs price has experienced a substantial 350% year-to-date rally, although it remains around 200% higher despite the recent market correction. The surge in price began with the overall recovery of the crypto market in January and gained momentum during the frenzy surrounding meme coins.
Currently, the SHIB price has seen a 2% increase in the past 24 hours, with the token trading at $0.00002668. The 24-hour trading range has been between $0.00002560 and $0.00002748, while the trading volume has decreased by 20% within the same period, suggesting a slight decrease in trader interest.
Moreover, the SHIB burn rate has surged by 4000% in the last 24 hours, indicating a potential price recovery on the horizon. Additionally, the open interest in 1000SHIB futures on Binance has been steadily rising over the past few hours, further highlighting positive sentiment surrounding SHIB.
- Binance Expands Support for BOME, WIF, And 36 Other Crypto For Market Recovery
- Top Bitcoin Analyst Says This Data to Trump Bitcoin Halving Impact
- XRP-Linked Flare Network (FLR) Open Interest Shoots 45%, Hereโs Why
Hot Take: Opportune Moment for SHIB Investment ๐
If youโve been eyeing an opportunity to invest in Shiba Inu (SHIB), now might be the perfect time to consider it. The recent purchases by three significant whales, amounting to 184 billion SHIB tokens, signal a positive outlook for the tokenโs price trajectory. With the burn rate increasing and futures open interest on the rise, SHIB could be gearing up for a potential recovery. Keep an eye on these developments and consider your investment options wisely in the dynamic crypto market!