Shiba

April

Shiba Inu

Zero

Rise

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 <p>According to the data on IntoTheBlock, Shiba Inu (SHIB) witnessed a major spike in whale movements over the weekend. Over the weekend, SHIB whaled added 4.52 trillion SHIB tokens to their wallets. The influx translates to a spike of <a rel="noopener noreferrer nofollow" title="2300%" href="https://thebittimes.com/tag/2300.html">2300%</a> from Friday. Moreover, tokens flowing out of whale accounts have also seen a significant drop. While &nbsp;281.83 billion SHIB tokens moved out of whale accounts on Friday, this metric fell to 29.13 billion over the weekend.</p>
 <p><strong>Also Read: Shiba Inu Forecasted to Rise 600%: Here’s When</strong></p>
 <p>The whale movements come amid a larger market bullishness. SHIB’s price has surged 2.6% in the weekly charts and by 2.2% in the last 24 hours.</p>
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 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="50" src="https://cdn.thebittimes.com/images/2023/10/24/df82f3fb2ebe06091f50646803aaf56f.webp" alt class="wp-image-116826" srcset="https://cdn.thebittimes.com/images/2023/10/24/df82f3fb2ebe06091f50646803aaf56f.webp 1024w, https://cdn.thebittimes.com/images/2023/10/24/df82f3fb2ebe06091f50646803aaf56f.webp 300w, https://cdn.thebittimes.com/images/2023/10/24/df82f3fb2ebe06091f50646803aaf56f.webp 768w, https://cdn.thebittimes.com/images/2023/10/24/df82f3fb2ebe06091f50646803aaf56f.webp 1536w, https://cdn.thebittimes.com/images/2023/10/24/df82f3fb2ebe06091f50646803aaf56f.webp 2048w, https://cdn.thebittimes.com/images/2023/10/24/df82f3fb2ebe06091f50646803aaf56f.webp 380w, https://cdn.thebittimes.com/images/2023/10/24/df82f3fb2ebe06091f50646803aaf56f.webp 550w, https://cdn.thebittimes.com/images/2023/10/24/df82f3fb2ebe06091f50646803aaf56f.webp 800w, https://cdn.thebittimes.com/images/2023/10/24/df82f3fb2ebe06091f50646803aaf56f.webp 1160w, https://cdn.thebittimes.com/images/2023/10/24/df82f3fb2ebe06091f50646803aaf56f.webp 2504w" sizes="(max-width: 1024px) 100vw, 1024px">
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   Source: CoinGecko
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 <p>However, despite the increase in activity, SHIB’s burn rate continues to struggle. According to Shibburn, SHIB’s burn rate stands at -35.99%, with about 18 million tokens destroyed in the last 24 hours.</p>
 <h3 class="wp-block-heading" id="h-will-shiba-inu-continue-to-rally">Will Shiba Inu continue to rally?</h3>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="722" src="https://cdn.thebittimes.com/images/2023/10/24/9a9ad8f4b8530fac5517049ed7189c2c.webp" alt="Shiba Inu" class="wp-image-116222" srcset="https://cdn.thebittimes.com/images/2023/10/24/9a9ad8f4b8530fac5517049ed7189c2c.webp 1024w, https://cdn.thebittimes.com/images/2023/10/24/9a9ad8f4b8530fac5517049ed7189c2c.webp 300w, https://cdn.thebittimes.com/images/2023/10/24/9a9ad8f4b8530fac5517049ed7189c2c.webp 768w, https://cdn.thebittimes.com/images/2023/10/24/9a9ad8f4b8530fac5517049ed7189c2c.webp 380w, https://cdn.thebittimes.com/images/2023/10/24/9a9ad8f4b8530fac5517049ed7189c2c.webp 550w, https://cdn.thebittimes.com/images/2023/10/24/9a9ad8f4b8530fac5517049ed7189c2c.webp 800w, https://cdn.thebittimes.com/images/2023/10/24/9a9ad8f4b8530fac5517049ed7189c2c.webp 1080w" sizes="(max-width: 1024px) 100vw, 1024px">
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   Source – Coin68
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 <p>The crypto markets are currently following Bitcoin (BTC). If Bitcoin (BTC) continues to rally, we may see a similar trend for SHIB as well. The current market bullishness could be due to “Uptober,” a play on the word October, as this month has historically been bullish for crypto. Moreover, investors may anticipate stock markets to take a hit due to the rising tensions between Israel and Hamas.</p>
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 <p>They may be diverting their assets into crypto as a way to hedge. There is also a possibility that people are buying BTC in anticipation of a bull run soon. BTC is scheduled to undergo its halving in April 2024, which is historically a bullish event. Moreover, there is a high chance of a spot BTC ETF (Exchange Traded Fund) being launched in the U.S. Both developments make BTC a very attractive asset right now.</p>
 <p><strong>Also Read: Can Shiba Inu Delete a Zero by Halloween 2023?</strong></p>
 <p>Despite the price surge, Shiba Inu (SHIB) continues to trade with five zeros after its decimal. The popular dog-themed memecoin gained a zero in early May and has been struggling to get rid of it. Although it briefly removed the zero in August, it could not hold the price level.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/shiba-inu-whale-movements-increase-2300-amid-price-surge-tbt67469.html">https://thebittimes.com/shiba-inu-whale-movements-increase-2300-amid-price-surge-tbt67469.html</a></p>

Shiba Inu: Whale Movements Increase 2300% Amid Price Surge

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