SHIB News: Massive 2.7 Tln Accumulation Fuels Hope For Shiba Inu To $0.0000386

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As a seasoned researcher with extensive experience in the crypto market, I find today’s Shiba Inu news particularly intriguing. The recent accumulation of 2.7 trillion SHIB by a crypto whale from Robinhood exchange has added a bullish tint to the meme coin’s future price movements.

Shiba Inu, the cryptocurrency inspired by the dog breed of the same name, experienced a surge in investor interest on July 20th. The cause for this optimism was a series of on-chain events that hinted at potential price increases. One notable occurrence was a large crypto investor, often referred to as a “whale,” purchasing an impressive 2.7 trillion SHIB coins from an exchange. This transaction underscores the token’s potential for further growth and could lead to a target price of $0.0000386.

I’d be happy to share some information about the recent market statistics of the meme coin centered around dogs, and the potential implications for its future pricing trends.

SHIB News: Whale Sacks 2.7 Tln Coins

Based on information provided by Whale Alert’s data tracking, approximately 2.7 trillion Shiba Inu coins, valued at around $48.34 million, were transferred from Robinhood crypto exchange to an unidentified wallet address (0x40b38765).

Exploring the wallet’s details further, it was found that an astounding $653.52 million value of Shiba Inu tokens were present, according to Etherscan information. This massive accumulation has fueled excitement regarding the token’s prospects, as the determined whale’s investment underscores their belief and commitment to this meme coin.

The large number of whales, or major investors, holding the meme token has sparked great interest among investors due to its potential for profitable returns. Meanwhile, Shytoshi Kusama, the lead developer of Shiba Inu, recently emphasized its decentralized features during a public appearance.

Due to the latest CrowdStrike downtime, Kusama has proposed the Shiba Inu ecosystem as a viable alternative to reduce risks associated with centralized systems. This development has fueled ongoing debates and adds positivity to Shibaswap news.

Currently, SHIB‘s price is riding a wave of optimism, fueled by the purchasing power of the mentioned large investor or whale.

SHIB Price Gains Momentum

In line with the current market surge, SHIB‘s price rose by 1.87% to reach $0.00001789. The token experienced a low of $0.00001705 and a high of $0.00001815 within the last 24 hours.

Significantly, the weekly price charts show an increase of 4.67%. According to CoinGape Media’s latest Shiba Inu prediction, the token’s technical analysis on the weekly timeframe suggests a bullish reversal pattern called a rounding bottom. This implies that the token may be in the process of ending its downtrend and could potentially reach a price target of $0.0000386 by the end of the month.

The 14-day Relative Strength Index (RSI) of the asset was at 50. This implies that the asset is neither overbought nor oversold at the moment. Purchasing more, as previously suggested, could put additional upward pressure on the asset, providing positive signals for SHIB‘s potential price trend.

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2024-07-20 11:08