Major Shiba Inu Whale Amplifies Holdings, SHIB To $0.000037 Ahead?

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As an analyst with over a decade of experience in the cryptocurrency market, I find myself intrigued by the recent moves of the Shiba Inu whale. The massive accumulation of SHIB tokens worth $21.72 million by this trader, following a month-long hiatus, is a clear indication of their confidence in the token’s potential.

A significant Shiba Inu investor, often referred to as a “whale,” has caused a stir in the market once more. This whale increased its investment in the meme token on Friday, adding over $21.72 million worth of SHIB to its holdings, according to on-chain data. With this recent activity after a month’s break, crypto analysts predict potential price increases for SHIB, especially considering a bullish Q4 and the massive accumulation of the token by this investor.

Shiba Inu Whale Bags Heavily Indicating More Gains Imminent

According to Arkham Intelligence’s data from November 29, a large Shiba Inu investor (often referred to as a “super whale”) transferred approximately 98.196 billion SHIB, worth around $2.54 million, out of the crypto exchange Coinone. It’s important to note that the address 0x9d9f… was noted for carrying out significant transactions in the past.

During this period, the data revealed that the significant buildup occurred after a month without any activity from the specified address. Interestingly, this particular investor has amassed approximately 83.63 million Shiba Inu tokens so far, all obtained from the same cryptocurrency exchange since June of this year. The average price for these acquisitions is roughly $0.00001842.

At the same time, recent on-chain information showed that the trader possessed approximately $22 million of the meme token related to dogs. This substantial acquisition has sparked a flurry of excitement among investors, who are speculating that the token’s price may rise even more due to increased buying and market interest in this asset.

Will SHIB Price Hit $0.000037?

Currently, the Shiba Inu price has increased approximately 2% during the day and is currently priced at $0.00002595. The lowest and highest prices in the last 24 hours were $0.00002494 and $0.00002609, respectively. It’s worth noting that the crypto has seen a 5% increase over the past week and a significant 39% rise over the past month. Overall, the meme coin is experiencing bullish trends, reflecting market optimism as evidenced by substantial buying activity.

It’s also worth mentioning that the crypto’s token burn mechanism appears to have bolstered the price movements. CoinGape Media reported that the SHIB burn rate soared phenomenally recently, adding to optimism about future movements.

According to CoinGape Media’s analysis of Shiba Inu, they predict a price target of approximately 0.000037 USD. This optimistic forecast is largely based on the expectation that Bitcoin will reach $100,000 during this bull market. Additionally, overall market sentiment remains positive about future prices, and several factors suggest that Shiba Inu could potentially surge to 0.000037 USD in the near future.

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2024-11-29 13:53