Shiba Inu Whale Activity Can Make SHIB Prices Soar!

Bittime - In the last 12 hours, the Shiba Inu (SHIB) token showed a significant spike in whale activity, characterized by large investments from large holders. The latest data from Lookonchain shows that nine wallets, including two large whales, have accumulated 1.356 trillion SHIB tokens at an average price of $0.00002596.

This total investment reached $35.2 million (Rp. 563.2 billion). Despite market volatility, this shows strong trust among the SHIB community.

Whale Buys Shiba Inu

The whale made a surprising move! In the last 12 hours, nine wallets (including two large whales) spent $35.2 million (Rp. 563.2 billion) to buy 1.356 trillion SHIB at an average price of $0.00002596. One of these whale addresses includes: 0xFB67EF6fE609edAb1e0595e6815634E8E4db9cF7.

In the last six hours, an investor has spent around 4,849 ETH, worth $18.44 million (Rp. 295.04 billion), to acquire 715.9 billion SHIB tokens. These purchases reflect a bullish rally among crypto whales, who are taking advantage of lower prices during market downtrends.

Previously, this investor had invested around $400,000 (Rp. 6.4 billion) to acquire a large amount of SHIB and succeeded in making a profit of $121 million (Rp. 1.936 trillion), making him one of the most prominent SHIB traders.

Crazy Crypto Whale Action

A big player in SHIB bought SHIB like crazy, spending 4,849 ETH ($18.44 million or IDR 295.04 billion) to buy 715.9 billion SHIB in the last six hours.

In the early stages, he only spent around $400,000 (Rp. 6.4 billion) to buy 5.5 trillion SHIB and sold it for around $121 million (Rp. 1.936 trillion) at two price peaks. He has made more than $120 million (Rp. 1.92 trillion) from SHIB previously, an incredible profit!

Recent whale activity shows that large investors are massively transferring their assets from centralized exchanges to safer environments. This not only shows their long-term interest in SHIB but also highlights their approach to managing assets amidst market downtrends.

SHIB Decreasing Thinly

The SHIB token is currently trading at $0.00002532 (Rp.0.000405), experiencing a decline of 1.76% in the last 24 hours. Market capitalization remained at $14.91 billion (Rp. 238.56 trillion), and trading volume fell by 30.07%, namely $395 million (Rp. 6.32 trillion). The Relative Strength Index (RSI) is at 51.79, which indicates a neutral level or balance between bullish and bearish positions.

A decrease in token volatility results in a decrease in trading volume. This shows that some investors are holding back and whales are taking the opportunity to enter the market. Market sentiment is neutral, neither bullish nor bearish, according to the latest price movements.

Conclusion

Whale activity on SHIB tokens reflects a general strategy often implemented by large investors in the crypto world. Large purchases by whales are often an early indicator of larger price movements in the future. Additionally, the move to transfer assets from centralized exchanges to private wallets shows effort to maintain the security of their assets amidst market uncertainty.

In the long term, moves like this could have a positive impact on the market's perception of SHIB, increasing retail investor confidence. In addition, by looking at previous buying and selling patterns, investors can make wiser decisions in managing their portfolio. Thus, understanding whale activity is not just about knowing who is buying or selling, but also about predicting future market trends.