Shiba

Shift

Shiba Inu

Coin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/whale-trading-patterns-indicate-shift-to-shiba-inu-coin" rel="noopener noreferrer nofollow">Whale Trading Patterns Indicate Shift to Shiba Inu Coin</a><br></p>
<p style="text-align: justify">Whale investors have been stirring the crypto waters with their recent trading activities, revealing a notable pivot towards Shiba Inu (SHIB) after divesting from PEPE (PEPE). A single whale transaction marked the sale of a colossal 1.97 trillion PEPE tokens valued at over $6 million. This strategic move resulted in a hefty profit of nearly $3.5 million for the investor. Swiftly reallocating their funds, the whale acquired an impressive haul of 75.9 billion SHIB tokens, investing close to $900,000 into the popular meme <a href="https://en.bitcoinhaber.net/bitcoin-climbs-above-54500-as-turkish-crypto-enthusiasts-turn-to-altcoins" rel="noopener noreferrer nofollow">cryptocurrency</a>.</p>
<h2 id="pepe-price-takes-a-hit">PEPE Price Takes a Hit</h2>
<p style="text-align: justify">Following the whale’s exit, PEPE saw a significant price drop of 17.71%, indicating a market correction from its recent peak. The Relative Strength Index (RSI) for PEPE pointed to a value of 67, reflecting the sudden change in market dynamics and investor sentiment.</p>
<h2 id="shiba-inu-s-network-activity-surges">Shiba Inu’s Network Activity Surges</h2>
<p style="text-align: justify">Despite the whale-driven interest, SHIB’s price did not escape a dip, declining by 5.91% over the last day. However, contrasting the price trend, SHIB’s network data painted a more positive picture with an uptick in new wallet addresses and a surge in transaction velocities, suggesting heightened activity within its ecosystem.</p>
<p style="text-align: justify">The SHIB ecosystem’s token burning mechanism also saw an unprecedented increase, with a staggering 3.7 million tokens incinerated in a single day, marking an eye-catching boost of over 30,000%. Meanwhile, the Shibarium network, a key component of the Shiba Inu infrastructure, experienced a decline in new account registrations, offering a different angle on the ecosystem’s evolving dynamics.</p>
<p style="text-align: justify">These whale movements and contrasting network signals have sparked curiosity about the underlying drivers of market behavior for SHIB, as investors and analysts continue to monitor the evolving landscape of meme cryptocurrencies.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/whale-trading-patterns-indicate-shift-to-shiba-inu-coin" rel="noopener noreferrer nofollow">Whale Trading Patterns Indicate Shift to Shiba Inu Coin</a></h5>

Whale Trading Patterns Indicate Shift to Shiba Inu Coin

Table of Contents

BH NEWS

Other articles published on Mar 2, 2024

Bitcoin BTC’s Bright Horizon: Riot Platforms Sets New Efficiency Benchmarks Amidst ETF Optimism

Top 3 Crypto Trends You Should Know: AI Altcoins, Ethereum’s Major Update & Gaming Tokens

Why $81,000 might be realistic target for Bitcoin before halving

Is P2E the most undervalued sector in crypto? The good, the bad and the profits

XRP Price Prediction for March 2

Binance Responds to Nigeria Demanding $10 Billion Penalty

Join our free newsletter for daily crypto updates!