Shift

2024

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<ul>
 <li>An anonymous whale sold 1.97 trillion PEPE for $6.07M, then purchased $75.9B SHIB for $893M, boosting market interest in SHIB.</li>
 <li>SHIB’s price rose 5.32% in 24 hours and 7% in a week, influenced by trading activity and speculation on a potential SHIB ETF.</li>
 <li>Ethereum spot ETFs’ SEC approval sparks speculation about a SHIB ETF, driving increased trading activity and investor interest.</li>
</ul>
<p>Lookonchain, an analytics platform, recently highlighted an anonymous whale shifting investments from PEPE to <a href="https://cryptonewsland.com/shiba-inus-liquid-staking-partner-knine-secures-another-bullish-listing-major-shib-pump-ahead/" target="_blank" rel="noopener noreferrer nofollow">SHIB</a>. Initially, this whale held 1.97 trillion PEPE tokens valued at over $6.07 million. The investor deposited these tokens into Binance, realizing a profit of $3.49 million.</p>
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   <p lang="en" dir="ltr">A smart whale deposited all 1.97T <a href="https://twitter.com/search?q=%24PEPE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$PEPE</a>($6.07M) to <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Binance</a> and made a profit of $3.49M.<br><br>Then he changed his position from <a href="https://twitter.com/search?q=%24PEPE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$PEPE</a> to <a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SHIB</a>, withdrawing 75.9B <a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SHIB</a>($893K) from <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Binance</a> 3 hours ago.<a href="https://t.co/X67O2VjR1y" rel="noopener noreferrer nofollow">https://t.co/X67O2VjR1y</a> <a href="https://t.co/nL7rRDZCXT" rel="noopener noreferrer nofollow">pic.twitter.com/nL7rRDZCXT</a></p>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1763039924948005139?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">February 29, 2024</a>
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<p>Subsequently, the whale acquired approximately $75.9 billion SHIB for $893 million. These assets were transferred to an undisclosed wallet. This shift from <a href="https://cryptonewsland.com/pepe-6-weeks-riding-the-ascending-trendline-with-steady-recovery/" target="_blank" rel="noopener noreferrer nofollow">PEPE</a> to SHIB underscores the investor’s confidence in Shiba Inu. Some market watchers speculate this trend might resume, contributing to the recent SHIB upsurge.</p>
<p>As of press time, SHIB is trading at <a href="https://coinmarketcap.com/currencies/shiba-inu/" target="_blank" rel="noopener noreferrer nofollow">$0.00002881</a>. SHIB is up 5.32% in the last 24 hours and 7% in the last week. Concurrently, PEPE is valued at <a href="https://coinmarketcap.com/currencies/pepe/" target="_blank" rel="noopener noreferrer nofollow">$0.00001493</a> showcasing a 5.13% decrease in the past 24 hours and 14.21% growth over the week. This increase is attracting the interest of traders and investors.</p>
<p>Moreover, World Of Charts, a crypto analyst noted that SHIB is moving towards targets and has already achieved over 20% profit. Anticipation surrounding a potential SHIB exchange-traded fund (ETF) and increased trading activity have contributed to this rise. Additionally, the U.S. Securities and Exchange Commission’s <a href="https://www.reuters.com/technology/us-sec-approves-exchange-applications-list-spot-ether-etfs-2024-05-23/" target="_blank" rel="noopener noreferrer nofollow">approval</a> of Ethereum spot ETFs has fueled discussions about a possible SHIB ETF, further influencing market sentiment.</p>
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   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24Shib&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$Shib</a><br><br>Moving Towards Targets Running In 20%+ Profit So Far<a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Crypto</a> <a href="https://twitter.com/hashtag/Shib?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Shib</a> <a href="https://t.co/NND7z9WVDd" rel="noopener noreferrer nofollow">https://t.co/NND7z9WVDd</a> <a href="https://t.co/JXcHRVrgJQ" rel="noopener noreferrer nofollow">pic.twitter.com/JXcHRVrgJQ</a></p>— World Of Charts (@WorldOfCharts1) <a href="https://twitter.com/WorldOfCharts1/status/1795749739436376338?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 29, 2024</a>
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<p>Technical indicators also support the bullish outlook for SHIB. The Relative Strength Index (RSI) on the daily price chart indicates a neutral position that SHIB is neither overbought nor oversold. Traders interpret this as a potential continuation of the current trend.&nbsp;</p>
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/Mwig55q0l5GOjVt1A8wif3Qvlw6hckD7TmMO2VjXk2M4h2ECKMeBpI5q8h-Wj4inPZr0eU6UBo053tWafiUI_gGr19EVga2J0Jsh5bmKjvF15hyicoLW34qrgFC9M5t2V4D17-1W1mrlhOkgVnwxahE" alt="">
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<p>Source: <a href="https://www.tradingview.com/x/Kr5cxi2w/" target="_blank" rel="noopener noreferrer nofollow">TradingView</a></p>
<p>Additionally, the Moving Average Convergence Divergence (MACD) on the daily price chart reads 0.00000049. This suggests a potential bullish trend reversal, as the MACD line is above the signal line. Traders look for confirmation from other technical indicators before making trading decisions.</p>
<h4 class="wp-block-heading" id="h-read-more">Read More:</h4>
<ul class="wp-block-yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/whales-are-selling-popular-coins-like-btc-eth-shib-to-buy-pepe/" rel="noopener noreferrer nofollow">Whales Are Selling Popular Coins Like BTC, ETH, SHIB to Buy Pepe</a></li>
 <li><a href="https://cryptonewsland.com/pepes-binance-entry-pressures-shibs-dominance-crypto-supremacy-at-stake/" rel="noopener noreferrer nofollow">PEPE’s Binance Entry Pressures SHIB’s Dominance: Crypto Supremacy at Stake</a></li>
 <li><a href="https://cryptonewsland.com/pepe-defies-expectations-leaving-shib-trailing-behind-as-binance-listing-approaches/" rel="noopener noreferrer nofollow">PEPE Defies Expectations, Leaving SHIB Trailing Behind as Binance Listing Approaches</a></li>
 <li><a href="https://cryptonewsland.com/pepe-shakes-crypto-world-ada-dot-xrp-doge-shib-dethroned/" rel="noopener noreferrer nofollow">PEPE Shakes Crypto World: ADA, DOT, XRP, DOGE, SHIB Dethroned</a></li>
 <li><a href="https://cryptonewsland.com/shibs-unstoppable-surge-whale-adds-2-64-million-time-to-surf-the-surge/" rel="noopener noreferrer nofollow">SHIB’s Unstoppable Surge: Whale Adds $2.64 Million, Time to Surf the Surge</a></li>
</ul>
<p>The post <a href="https://cryptonewsland.com/whales-shift-from-pepe-to-shib-triggers-price-surge-amidst-etf-speculation/" rel="noopener noreferrer nofollow">Whale’s Shift from PEPE to SHIB Triggers Price Surge Amidst ETF Speculation</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Whale’s Shift from PEPE to SHIB Triggers Price Surge Amidst ETF Speculation

Crypto News Land

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