Shiba Inu: 473% Surge in Whale Activity – 108 Trillion SHIB on the Line!

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The popular canine-themed cryptocurrency, Shiba Inu (SHIB), has witnessed a surge in activity recently. This week alone, there’s been a staggering 473% rise in large holder inflows, indicating growing attention from big investors like whales and institutional players, suggesting a heightened level of interest.

Remarkably, there’s been a significant surge (up by 20%) in high-volume transactions, often indicative of whale activity, amounting to approximately $202.51 million over the past day. Additionally, we’ve observed an increase in Shiba Inu being transferred into large wallets, a sign of funds moving towards whale addresses. This inflow has grown from 1.17 trillion SHIB on January 16 to 2.55 trillion SHIB on January 17.

The rise in investments coincides with the recent upward trend in Shiba Inu prices, prior to the start of cashing out. Yesterday’s trading saw a significant price hike for Shiba Inu, climbing from its lowest point at $0.000022 to $0.0000246. On Saturday, Shiba Inu continued its upward trend, peaking at $0.00002497 before experiencing a slight dip.

Currently, Shiba Inu (SHIB) is decreasing by 4.73% over the last 24 hours to reach a price of $0.00002302. This decline mirrors the ongoing market trend of investors cashing out their profits, resulting in approximately $493 million being liquidated from various cryptocurrencies as per CoinGlass’s latest data.

Bulls seek to defend 108 trillion SHIB

At present, the drop in Shiba Inu’s value has led it close to a significant price level where approximately 108 trillion SHIB coins are currently stored within Shiba Inu wallets.

108.19 trillion Shiba Inu coins are currently being stored in the wallets of approximately 115,240 different Shiba Inu holders, with each individual holding an amount ranging from around 0.000019 to 0.000023 SHIB. (IntoTheBlock data)

108 trillion SHIB at this critical point acts as a solid foundation underpinning the Shiba Inu’s price, as buyers demonstrate resilience in guarding it. This area has been a reliable base for the SHIB price since December’s end, preventing further drops and sparking hope for an upcoming recovery.

If the price of SHIB drops significantly from its current level, there could be a surge in selling pressure that might push it down to the support levels of $0.000014 and $0.000019. However, if these supports are broken, the next potential resistance zones are at $0.000023 and $0.000025. These levels are significant because they hold approximately 77.61 trillion SHIB, and a breakthrough could signal a larger bullish trend.

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2025-01-18 19:31