Shiba

Cryptocurrency

FOMO

Shiba Inu

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 <p class="paragraph">Shiba Inu (SHIB) exchange volume increased by 90% to $267 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a> in the last 24 hours during this week’s crypto bull run. Shiba Inu’s on-chain activity also surged with cryptocurrency wallet addresses moving over $50 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a> in SHIB in the same period.</p>
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 <p class="paragraph">Notably, this rally added up close to $300 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a> in SHIB’s market cap from October 23 to October 24 at the time of publication. The increased volume accounts for 89% of the capitalization growth, evidencing a bullish trend and a ‘fear of missing out’ (FOMO) dominating sentiment.</p>
 <p class="paragraph">As for the on-chain activity, Finbold filtered <a rel="noopener noreferrer nofollow" title="whale" href="https://thebittimes.com/tag/whale.html">whale</a> alerts for SHIB transactions moving over $500,000 on the <em>SpotOnChain</em> platform.</p>
 <p class="paragraph">Interestingly, these <a rel="noopener noreferrer nofollow" title="whale" href="https://thebittimes.com/tag/whale.html">whale</a>s moved $48.553 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a> in Shiba Inu tokens in a day-over-day time frame, with over 6.40 trillion SHIB being transacted in 15 spotted transactions. Among the <a rel="noopener noreferrer nofollow" title="whale" href="https://thebittimes.com/tag/whale.html">whale</a>s, we could identify Binance, Kucoin, Wintermute Trading, Robinhood, BTC Turk, and a few unknown addresses.</p>
 <figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="648" height="1024" src="https://cdn.thebittimes.com/images/2023/10/24/d7998b9cc208e25f4a7649540f33957c.webp" alt="SHIB whales transactions on-chain." class="wp-image-133945" srcset="https://cdn.thebittimes.com/images/2023/10/24/d7998b9cc208e25f4a7649540f33957c.webp 648w, https://cdn.thebittimes.com/images/2023/10/24/d7998b9cc208e25f4a7649540f33957c.webp 190w, https://cdn.thebittimes.com/images/2023/10/24/d7998b9cc208e25f4a7649540f33957c.webp 768w, https://cdn.thebittimes.com/images/2023/10/24/d7998b9cc208e25f4a7649540f33957c.webp 792w" sizes="(max-width: 648px) 100vw, 648px">
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   SHIB whales transactions on-chain. Source: <em>Spot On Chain</em>
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 <h2 class="wp-block-heading" id="h-shib-price-analysis">SHIB price analysis</h2>
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 <p class="paragraph">Meanwhile, SHIB is trading at $0.000007514 by press time. This means 4.4% in price gains in the last 24 hours, 8.5% gains in a week, and 2% price appreciation in the last 30 days after a challenging month for Shiba Inu holders.</p>
 <figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="683" src="https://cdn.thebittimes.com/images/2023/10/24/0aaf2eb456addd1665e3df6d201b402a.webp" alt="SHIB 1-month price chart" class="wp-image-133946" srcset="https://cdn.thebittimes.com/images/2023/10/24/0aaf2eb456addd1665e3df6d201b402a.webp 1024w, https://cdn.thebittimes.com/images/2023/10/24/0aaf2eb456addd1665e3df6d201b402a.webp 300w, https://cdn.thebittimes.com/images/2023/10/24/0aaf2eb456addd1665e3df6d201b402a.webp 768w, https://cdn.thebittimes.com/images/2023/10/24/0aaf2eb456addd1665e3df6d201b402a.webp 1200w" sizes="(max-width: 1024px) 100vw, 1024px">
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   SHIB 1-month price chart. Source: Finbold
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 <p class="paragraph">Also noteworthy is the Bid-Ask Volume Imbalance indicator by <em>IntoTheBlock</em>. According to this exchange signal, there is 7.34% more capital in buy orders, than in sell order for SHIB on the leading markets. This is interpreted as a bullish signal for Shiba Inu.</p>
 <figure class="wp-block-image size-full"><img decoding="async" loading="lazy" width="580" height="408" src="https://cdn.thebittimes.com/images/2023/10/24/36c052b50725fbb039be22956db87210.webp" alt="Exchange signals for SHIB." class="wp-image-133947" srcset="https://cdn.thebittimes.com/images/2023/10/24/36c052b50725fbb039be22956db87210.webp 580w, https://cdn.thebittimes.com/images/2023/10/24/36c052b50725fbb039be22956db87210.webp 300w" sizes="(max-width: 580px) 100vw, 580px">
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   Exchange signals for SHIB. Source: <em>IntoTheBlock</em>
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 <p class="paragraph">Nevertheless, crypto traders and investors must remain cautious when FOMO dominates the overall sentiment. It is in increased euphoric moments that retail can be trapped into higher prices for a given asset.</p>
 <p class="paragraph">Moreover, value investors must carefully analyze Shiba Inu’s fundamentals, and propose demand for the token in order to decide for an entry point or not. At the time of publication, 85% of SHIB holders are still ‘Out of The Money’, holding onto unrealized losses.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/shib-whales-move-50-million-as-fomo-takes-over-tbt67592.html">https://thebittimes.com/shib-whales-move-50-million-as-fomo-takes-over-tbt67592.html</a></p>

SHIB whales move $50 million as FOMO takes over

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