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After shifting 15 trillion SHIB during the market meltdown, are Shiba Inu whales set to surge?
Massive transactions worth millions of dollars are being initiated by Shiba Inu whales, who have returned to action. According to new on-chain statistics, Shiba Inu whales transferred an unprecedented 15.1 trillion SHIB tokens in a single day. The market for SHIB has fallen to new lows, coinciding with this massive move. We can't help but wonder whether these massive investors are getting ready for a possible SHIB price jump, given the recent uptick in whale activity.
Massive 15 trillion SHIB Transfer by Shiba Inu Whales
Big SHIB holders, or "Shiba Inu whales" according to IntoTheBlock's statistics, have done it again with another huge transaction. Whales in the Shiba Inu community have been busy as of late, trading a whopping 15.1 trillion SHIB tokens—worth around $253.05 million—in only one day.
Since the actions of whales often affect market sentiment and price trajectories, this massive SHIB transaction has piqued the interest of the market. A staggering 4.3 trillion SHIB tokens, worth $66.22 million, were transferred by Shiba Inu Whales on February 2. After transacting 1.5 trillion SHIB on February 1, this transaction represented a substantial rise of almost 2.8 trillion SHIB.
But now it seems like the Shiba Inu whales' activity has gone up a notch. The latest 15.1 trillion SHIB transfer by these large-scale token holders represents an astounding rise of 10.8 trillion from the 4.3 trillion SHIB transfer the day before.
Curiously, this uptick in whale sales coincides with a major market drop. In the wake of US President Trump's trade war with China, Mexico, and Canada, the cryptocurrency market has seen a descent. Significant market participants like Bitcoin and Ethereum have had precipitous declines, with BTC trading below $100,000 and ETH below $3,000.
The market instability also harmed Shiba Inu and other cryptocurrencies. According to statistics compiled by CoinMarketCap, the price of SHIB hit new lows last week, plunging 20% below its previous value. The meme currency has made a little recovery, gaining 6.4% in the last day, but its latest decline shows that negative pressure is still there.
Despite the decline, IntoTheBlock notes that big holder inflows have increased by 553.59% over the last week. On February 2, a total of 1.27 trillion SHIB had been amassed by large-scale holders. On the other hand, whales' purchase activity skyrocketed the next day, reaching a staggering 6.51 trillion SHIB.
Although there has been a notable increase in whale arrivals, the data from ITB reveals a remarkable surge in whale departures. On February 2, whales released 967.25 billion SHIB, a 1,290% increase from the previous seven days. When whales swam an incredible 6.5 trillion SHIB the next day, a difference of more than 5.5 trillion from the day before, this pattern persisted.
Will SHIB's Whales Soon Be Ready for a Price Rally?
Although massive trades may affect market patterns, it is yet unclear if the current uptick in Shiba Inu whale movements heralds a price surge. Data from CoinMarketCap suggests that Shiba Inu is beginning to show some signs of life after its recent decline, which might be due to the uptick in whale transfers.
Though it has recovered somewhat, the Shiba Inu price is still much lower than its all-time high of more than $0.00002 in 2024. Meme coin's value has plummeted to $0.000015 as of this writing, reflecting negative market trends and shifts in investor perception. The trade volume of the meme currency has also dropped 38.7 percent in the last day, reaching $874.2 million.
#SHIB #shiba⚡ #Shibarium $BTC $ETH $SHIB
Massive 15 trillion SHIB Transfer by Shiba Inu Whales
Big SHIB holders, or "Shiba Inu whales" according to IntoTheBlock's statistics, have done it again with another huge transaction. Whales in the Shiba Inu community have been busy as of late, trading a whopping 15.1 trillion SHIB tokens—worth around $253.05 million—in only one day.
Since the actions of whales often affect market sentiment and price trajectories, this massive SHIB transaction has piqued the interest of the market. A staggering 4.3 trillion SHIB tokens, worth $66.22 million, were transferred by Shiba Inu Whales on February 2. After transacting 1.5 trillion SHIB on February 1, this transaction represented a substantial rise of almost 2.8 trillion SHIB.
But now it seems like the Shiba Inu whales' activity has gone up a notch. The latest 15.1 trillion SHIB transfer by these large-scale token holders represents an astounding rise of 10.8 trillion from the 4.3 trillion SHIB transfer the day before.
Curiously, this uptick in whale sales coincides with a major market drop. In the wake of US President Trump's trade war with China, Mexico, and Canada, the cryptocurrency market has seen a descent. Significant market participants like Bitcoin and Ethereum have had precipitous declines, with BTC trading below $100,000 and ETH below $3,000.
The market instability also harmed Shiba Inu and other cryptocurrencies. According to statistics compiled by CoinMarketCap, the price of SHIB hit new lows last week, plunging 20% below its previous value. The meme currency has made a little recovery, gaining 6.4% in the last day, but its latest decline shows that negative pressure is still there.
Despite the decline, IntoTheBlock notes that big holder inflows have increased by 553.59% over the last week. On February 2, a total of 1.27 trillion SHIB had been amassed by large-scale holders. On the other hand, whales' purchase activity skyrocketed the next day, reaching a staggering 6.51 trillion SHIB.
Although there has been a notable increase in whale arrivals, the data from ITB reveals a remarkable surge in whale departures. On February 2, whales released 967.25 billion SHIB, a 1,290% increase from the previous seven days. When whales swam an incredible 6.5 trillion SHIB the next day, a difference of more than 5.5 trillion from the day before, this pattern persisted.
Will SHIB's Whales Soon Be Ready for a Price Rally?
Although massive trades may affect market patterns, it is yet unclear if the current uptick in Shiba Inu whale movements heralds a price surge. Data from CoinMarketCap suggests that Shiba Inu is beginning to show some signs of life after its recent decline, which might be due to the uptick in whale transfers.
Though it has recovered somewhat, the Shiba Inu price is still much lower than its all-time high of more than $0.00002 in 2024. Meme coin's value has plummeted to $0.000015 as of this writing, reflecting negative market trends and shifts in investor perception. The trade volume of the meme currency has also dropped 38.7 percent in the last day, reaching $874.2 million.
#SHIB #shiba⚡ #Shibarium $BTC $ETH $SHIB
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