Shiba

Spiking

Propel

Shiba Inu

Coin

SHIB price forecast: Shiba Inu Coin price has experienced a remarkable increase in its market value, rising sharply in the last day. This meme coin surpassed the $0.000022 mark, indicating a bullish trend despite ongoing market fluctuations. Currently, the <a href="https://coingape.com/price/shiba-inu/" rel="noopener noreferrer nofollow">Shiba Inu Coin price</a> is at $0.00002251, with a surge of 7% indicating a bullish trend.
The 24-hour trading volume for Shiba Inu has ticked up by 20%, totaling $886 million. This surge indicates growing interest among traders. Additionally, its market cap rose 6% to $13.26 billion, securing #11 rank in the market standings.
<figure id="attachment_194881" aria-describedby="caption-attachment-194881" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="size-full wp-image-194881" src="https://coingape.com/wp-content/uploads/2024/05/SHIBUSD_2024-05-02_17-48-28-e1714661369887.png" alt="Shiba Inu Coin Price Prediction: Can Recent Whale Activity Propel SHIB to $0.00003?" width="1200" height="650">
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 Shiba Inu Coin Price
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Over the past week, <a href="https://coingape.com/markets/shiba-inu-coin-price-analysis-surge-to-0-0001-imminent-as-shib-burns-bright/" rel="noopener noreferrer nofollow">SHIB,</a> the second leading meme coin currency has shown little movement, aligning with a broader downturn in the market. This phase of stagnation is crucial for the cryptocurrency as it generally encourages accumulation among investors. Overall, the market has seen a 9% drop, leading to significant losses for many digital currencies.
<h2 id="strong-whales-drive-significant-increase-in-transaction-volume-strong">Whales Drive Significant Increase in Transaction Volume</h2>
Recent data from <a rel="noopener noreferrer nofollow" href="https://app.intotheblock.com/coin/SHIB/deep-dive?group=ownership&amp;chart=all">IntoTheBlock</a> reveals that SHIB has seen a dramatic 165% rise in large-scale transactions. In just 24 hours, the transfers surged from 3.73 trillion SHIB to 6.18 trillion SHIB. This significant activity indicates increased interest from major investors.
Whale Alert, a key blockchain monitoring service also noted a significant transfer of nearly 2 trillion SHIB tokens on the well-known trading platform Robinhood. The coins were shifted to a wallet that has yet to be identified, sparking intense curiosity among cryptocurrency enthusiasts.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> 875,000,000,000 <a href="https://twitter.com/hashtag/SHIB?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#SHIB</a> (19,666,682 USD) transferred from <a href="https://twitter.com/hashtag/Robinhood?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Robinhood</a> to unknown wallet<a href="https://t.co/hxSvwFxC0E" rel="noopener noreferrer nofollow">https://t.co/hxSvwFxC0E</a>
 — Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1785812478946955387?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 1, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
A wallet labeled as -4D935 is now under the spotlight for acquiring two large sums of SHIB. Each transaction involved 875 billion SHIB, making up a total of 1.75 trillion SHIB. With a market value of approximately $39.2 million, these transactions have fueled widespread speculation regarding the potential motives behind such large moves.
<h2 id="shib-price-forecast-amid-rallying-whale-activity">SHIB Price Forecast Amid Rallying Whale Activity</h2>
The meme coin <a href="https://coingape.com/price-predictions/shiba-inu-shib-price-prediction/" rel="noopener noreferrer nofollow">Shiba Inu</a> is currently facing a pivotal resistance level at $0.00002315. Breaking through this barrier could see its value rise to $0.000025. Such a move might set the stage for reaching the $0.0001 threshold.
However, a downturn could push its price down to a support level of $0.000022. Should market sentiment turn negative, SHIB could fall further to $0.00002. Increased bearish momentum may confirm a downward trend.
The daily technical analysis shows a promising outlook for Shiba Inu, with its price on a recovery path. The Relative Strength Index (RSI) is at a balanced 42.
<figure id="attachment_194880" aria-describedby="caption-attachment-194880" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="size-full wp-image-194880" src="https://coingape.com/wp-content/uploads/2024/05/SHIBUSD_2024-05-02_17-42-58-e1714661036979.png" alt="Shiba Inu Coin Price Prediction: Can Recent Whale Activity Propel SHIB to $0.00003?" width="1200" height="650">
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 Shiba Inu Coin Price| Source: <a rel="noopener noreferrer nofollow" href="https://www.tradingview.com/x/2y21Ocxb/">Tradingview</a>
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The Moving Average Convergence Divergence (MACD) for Shiba Inu shows a decrease following a sharp spike. The MACD line has crossed below the signal line, indicating potential bearish momentum in the short term. 
The post <a href="https://coingape.com/markets/shib-price-forecast-why-spiking-whale-activity-could-propel-shiba-inu-to-0-0001/" rel="noopener noreferrer nofollow">SHIB Price Forecast: Why Spiking Whale Activity Could Propel Shiba Inu To $0.0001</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

SHIB Price Forecast: Why Spiking Whale Activity Could Propel Shiba Inu To $0.0001

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