Shiba

Savvy

2024

Shiba Inu

Daily

<p>The post <a href="https://coinpedia.org/news/shiba-inu-crypto-whale-returns-massive-shib-buy-signals-new-bull-run/">Shiba Inu Surges 9.5% as Whale Makes Big Splash Back Into SHIB</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Shiba Inu (SHIB), one of the most popular memecoins in the cryptocurrency industry, has seen significant gains recently. Riding the memecoin craze, SHIB is climbing again, currently trading at $0.00002616—a 9.53% increase in the last 24 hours—much to the delight of its investors.</p> 
<p>Here’s all you need to know to make your next moves. </p> 
<h2 class="wp-block-heading" id="h-a-whale-s-return-big-buy-alert">A Whale’s Return: Big Buy Alert</h2> 
<p>According to LookonChain, a major blockchain analytics platform, a crypto whale who previously made huge profits from Shiba Inu (SHIB) is accumulating SHIB again. This smart trader initially invested around $400,000 to buy 5.5 trillion SHIB tokens early in SHIB’s history. </p> 
<p>During two market peaks, he sold these holdings for about $121 million, securing an impressive profit of more than $120 million.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">A <a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SHIB</a> super big winner is buying <a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SHIB</a> crazily, spending 4,849 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a>($18.44M) to buy 715.9B <a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SHIB</a> in the past 6 hours.<br><br>This guy spent only ~$400K to buy 5.5T <a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SHIB</a> in the early stage and sold for ~$121M at 2 peaks.<br><br>He made more than $120M on <a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SHIB</a> before, an amazing gain!<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f631.png" alt="😱" class="wp-smiley" style="height: 1em; max-height: 1em;">… <a href="https://t.co/iREp5jfj75">pic.twitter.com/iREp5jfj75</a></p>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1798254866227433887?ref_src=twsrc%5Etfw">June 5, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<h2 class="wp-block-heading" id="h-market-impact">Market Impact </h2> 
<p>Such big buying activity often attracts attention within the crypto community, as it can indicate potential future movements in the token’s price. Given this investor’s successful history with <a href="https://coinpedia.org/crypto-live-news/shiba-inu-burn-rate-escalates-by-16500/">SHIB</a>, his recent purchases are seen as a bullish sign for the token’s future.</p> 
<p>In the past six hours, this investor has spent 4,849 ETH, equivalent to $18.44 million, to acquire 715.9 billion SHIB tokens. This massive purchase shows the investor’s continued confidence in SHIB, even after previously making huge profits from the token.</p> 
<h2 class="wp-block-heading" id="h-shiba-inu-price-analysis">Shiba Inu Price Analysis</h2> 
<p>SHIB has crossed the 50-day Exponential Moving Average (EMA) at $0.000025, which is a positive sign. However, to keep this uptrend, SHIB needs to turn the $0.00003 level from resistance into support. If it doesn’t, the price might fall below the 50-day EMA again.</p> 
<p>Reaching $0.00003 won’t be easy. Data shows many sell orders at this level, with 124,220 addresses holding 92.2 trillion SHIB tokens bought between $0.000025 and $0.00003.</p> 
<p>Currently, Shiba Inu (SHIB) is up by 9.53% at $0.00002616, with a market cap exceeding $15.4 billion. Daily trading volumes have increased by 16%, surpassing $763 million. This rise is partly due to an increase in the SHIB burn rate, which could further push the price higher.</p> 
<p>Also Check Out: <a href="https://coinpedia.org/news/ripple-vs-sec-lawsuit-update-xrp-lawsuit-nears-final-stages-amid-new-legal-motions/">Ripple vs SEC Lawsuit Update: XRP Lawsuit Nears Final Stages Amid New Legal Motions</a></p> 
<p><strong>Is this the start of another SHIB rally? Stay tuned to find out!</strong></p>

Shiba Inu Surges 9.5% as Whale Makes Big Splash Back Into SHIB

Table of Contents

CoinPedia News

Other articles published on Jun 5, 2024

MoonBag, the Best Presale in 2024, Nears Stage 5 Amid Dogeverse and TRON Uncertainty

Crypto Investor Earns Millions on SHIB

Crypto Analyst Highlights JasmyCoin's Significant Breakout and Uptrend

DOG: The Rising Memecoin Challenging Dogecoin's Dominance

GameFi innovator discusses Ethereum’s scalability struggles and future solutions

Trog Price Skyrockets 96% After Airdropping Half Of Tokens To Donald Trump As This Latest AI Meme...

Join our free newsletter for daily crypto updates!