Is it Time to Invest in Shiba Inu?
With recent massive transactions involving Shiba Inu (SHIB) whales, you may be wondering if now is the perfect opportunity to invest in this meme coin. Let’s explore the recent whale transfers and expert predictions to determine if SHIB is worth considering for your investment portfolio.
Massive SHIB Whale Transfers
On-chain analytics platform Whale Alert recently reported a transfer of 2 trillion SHIB tokens from one Kucoin-linked wallet to another. This transfer has sparked curiosity among investors, as it occurred amidst legal issues faced by the exchange and its founders.
- The receiving wallet then distributed the SHIB tokens across various wallets, possibly to meet customer demand.
- This activity indicates a bullish sentiment among SHIB whales who continue to accumulate the meme coin.
- For example, the wallet that received the 2 trillion SHIB tokens transferred over 35 million SHIB to an unknown wallet, which appears to be holding for the long term.
What the Transactions Signify
Another wallet received 4.7 million SHIB tokens from the Kucoin-linked wallet, moving them to a warm wallet likely due to potential exchange-related concerns. These movements highlight the positive outlook for SHIB, with major investors showing no intention of selling their holdings.
- Furthermore, the wallet that initially received the 2 trillion SHIB tokens eventually transferred 1.4 trillion SHIB back to its origin, where they currently sit untouched.
Investing in SHIB Now
Despite missing the entry point advised by Xanrox, investing in SHIB at its current price level could still be a lucrative move, as per expert predictions. Analysts foresee SHIB potentially reaching new all-time highs or shedding another zero in value on its way to $0.0001.
- Currently, SHIB is trading at approximately $0.00003029, showing a decrease of over 2% in the last 24 hours.
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