Shiba

FOMO

Shiba Inu

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 <p class="paragraph">Observing the movements of smart <a rel="noopener noreferrer nofollow" title="whale" href="https://thebittimes.com/tag/whale.html">whale</a>s can provide valuable insights for crypto traders and investors navigating the waters of cryptocurrency. These highly capitalized addresses have a profitable trading history.</p>
 <p class="paragraph">On May 1, an anonymous wallet executed a major transaction on the Robinhood exchange, acquiring 1.75 trillion Shiba Inu (SHIB) tokens, valued at approximately $40 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a>.</p>
 <p class="paragraph">The data from <em>Whale Alert</em> shows that this substantial acquisition involved two separate transfers, each moving 875 billion SHIB in under a minute.</p>
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    <p lang="en" dir="ltr">875,000,000,000 #SHIB (19,666,682 USD) transferred from #Robinhood to unknown wallethttps://t.co/hxSvwFxC0E</p>— Whale Alert (@whale_alert) May 1, 2024
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    <p lang="en" dir="ltr">875,000,000,000 #SHIB (19,679,610 USD) transferred from #Robinhood to unknown wallethttps://t.co/6shZCvoacJ</p>— Whale Alert (@whale_alert) May 1, 2024
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 <p class="paragraph">The massive transactions occurred from Robinhood to the wallet address ‘0x73AF3bcf944a6559933396c1577B257e2054D935.&nbsp;</p>
 <p class="paragraph">According to <em>Etherscan</em> data, this wallet has previously moved SHIB to and from Robinhood as well. Over the past month, this address has engaged significantly in the SHIB market with high-volume transactions.&nbsp;</p>
 <p class="paragraph">Notably, it transferred 3 trillion SHIB into Robinhood on April 24, showcasing a pattern of regular inflows and outflows with the platform. This behavior underscores its considerable influence in the market, with the wallet currently holding over 5.88 trillion SHIB, valued at approximately $128 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a>.</p>
 <h2 class="wp-block-heading" id="h-market-impact-and-predictions">Market impact and predictions</h2>
 <p class="paragraph">Professional crypto trader <em>Ali Martinez</em> mentioned in a post on X (formerly Twitter) recently that Shiba Inu appears to be forming a bull flag on its daily chart. A bull flag is a bullish pattern, suggesting that the crypto asset is poised for further upward movement. Anticipating this, the crypto analyst revealed that he is placing buy orders around $0.000018343, aiming for a bullish breakout that could propel Shiba Inu’s price to $0.000072323.</p>
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   <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
    <p lang="en" dir="ltr">#ShibaInu appears to be forming a bull flag on the daily chart! I'm placing buy orders around $0.000018343, aiming for a bullish breakout that sends $SHIB to $0.000072323.<br><br>So, if you want to join me in this trade, head to @coinexcom and sign up using my referral link… pic.twitter.com/er1gE0lozV</p>— Ali (@ali_charts) May 1, 2024
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 <p class="paragraph">Despite the market’s recent dips, the trading volume and wallet activities suggest continuous interest in Shiba Inu tokens, highlighting the volatile yet intriguing nature of cryptocurrency investments.&nbsp;</p>
 <p class="paragraph">According to data from <em>Coinmarketcap</em>, the Shiba Inu daily trading volume has risen approximately 40%. This surge is driven mostly by the Binance crypto exchange, whose Japanese arm announced a number of sought-after trading pairs, including SHIB.</p>
 <h2 class="wp-block-heading" id="h-shib-price-analysis">SHIB price analysis</h2>
 <figure class="wp-block-image size-full"><img decoding="async" width="720" height="562" src="https://cdn.thebittimes.com/images/2024/05/03/2ca0173c5c72f30086c165f0792d5232.webp" alt class="wp-image-173706" srcset="https://cdn.thebittimes.com/images/2024/05/03/2ca0173c5c72f30086c165f0792d5232.webp 720w, https://cdn.thebittimes.com/images/2024/05/03/2ca0173c5c72f30086c165f0792d5232.webp 300w" sizes="(max-width: 720px) 100vw, 720px">
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   SHIB 1 day price chart. Source. <em>Finbold</em>
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 <p class="paragraph">As of press time, Shiba Inu was changing hands at a price of $0.00002363, recording an increase of 3.18% in the last 24 hours. The current market activity surrounding Shiba Inu reflects a vibrant and dynamic market. Observations and analyses provided by market experts suggest a bullish outlook for SHIB, making it a noteworthy consideration for investors looking for exposure in the cryptocurrency space.</p>
 <p class="paragraph">As the market continues to evolve, it will be crucial for investors and analysts alike to stay informed of such trends and movements to optimize their strategies in the ever-changing landscape of digital assets.</p>
 <p class="paragraph"><em>Disclaimer:</em><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/bullish-shiba-inu-whale-stacks-40-million-in-shib-tbt87354.html">https://thebittimes.com/bullish-shiba-inu-whale-stacks-40-million-in-shib-tbt87354.html</a></p>

Bullish: Shiba Inu whale stacks $40 million in SHIB

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