Shiba

Shift

Shiba Inu

Inu.

<ul>
 <li><strong>Shiba Inu (SHIB) whales are shifting their tokens from exchanges to autonomous wallets, indicating potential long-term holding intentions.</strong></li>
 <li><strong>This movement might create an upward pressure on SHIB’s price due to reduced selling supply in the market.</strong></li>
</ul>
<h2 id="shiba-inu-whales-maneuvering-for-potential-price-surge">Shiba Inu Whales Maneuvering for Potential Price Surge</h2>
<p>Whale movements in the cryptocurrency market have always garnered significant attention. Recently, substantial transfers of <a href="https://www.ethnews.com/shiba-inu-shib-drops-72-market-analysis-and-future-projections/" rel="noopener noreferrer nofollow">Shiba Inu</a> (SHIB) by whales have caught the eye of investors. These intriguing activities might signal an imminent upward trend for the meme coin.</p>
<h2 id="whale-transfers-highlight-significant-market-shift">Whale Transfers Highlight Significant Market Shift</h2>
<p>Recent analyses by Santiment reveal a notable trend in the movements of <a href="https://www.ethnews.com/dogecoin-doge-and-shiba-inu-shib-are-losing-their-appeal-as-traders-seek-out-tokens-with-utility/" rel="noopener noreferrer nofollow">Shiba Inu</a> whales. According to a report by the firm, “exchange whales hold 5.53 billion fewer meme coin tokens today than they did about a month ago.” This suggests a considerable shift in SHIB holdings away from exchanges.</p>
<p>Conversely, the top 150 autonomous wallets, referred to as “non-exchange whales,” have accumulated approximately 6.57 billion <a href="https://www.ethnews.com/memecoin-rockets-here-are-3-meme-coins-to-rally-this-cycle-pepecoin-mpeppe-shiba-inu-shib/" rel="noopener noreferrer nofollow">SHIB</a> in the same period. This trend indicates that investors are opting to transfer their tokens to long-term storage in independent wallets rather than keeping them on centralized crypto exchanges for short-term trading.</p>
<p>This behavior change among whales could signify a positive outlook for Shiba Inu. When investors remove their tokens from exchanges, it typically indicates an intention to hold them long-term. This maneuver reduces the available selling supply in the market, potentially leading to upward pressure on the price of <a href="https://www.ethnews.com/shiba-inu-vs-mpepe-which-cryptocurrency-will-dominate-in-2024-mpeppe-euros-gambling/" rel="noopener noreferrer nofollow">SHIB</a>, especially if demand remains steady or increases.</p>
<p>The timing of this accumulation is also significant. The price of <a href="https://www.ethnews.com/super-diamond-trader-scores-big-with-1-1m-shiba-inu-shib-profit-after-3-5-years/" rel="noopener noreferrer nofollow">SHIB</a> has dropped nearly 28% over the past month and is currently trading at around $0.00001639. This accumulation might suggest that whales view these price levels as attractive entry points and anticipate a future recovery of the meme coin.</p>
<p>Overall, the recent movements of Shiba Inu whales provide an intriguing insight into market dynamics and potential <a href="https://www.ethnews.com/shibarium-surge-shiba-inus-blockchain-buzz-skyrockets-transaction-fees/" rel="noopener noreferrer nofollow">SHIB</a> price developments. As these major holders seem to be betting on a future increase, the crypto market remains vigilant for signs of a trend reversal.</p>
<div class="cryptoboxes" id="mcw-12321" data-realtime="on">
 <div class="mcw-chart mcw-chart-light" data-font="inherit" data-chartcoin="SHI" data-chartcurrency="USD" data-chartrate="1.000268" data-charttype="chart" data-chartview="day" data-charttheme="light" data-chartsmooth="true" data-chartareacolor="" data-chartbgcolor=""></div>
</div>
<p>The post <a href="https://www.ethnews.com/shiba-inu-whales-poised-to-drive-shib-prices-upwards/" rel="noopener noreferrer nofollow">Shiba Inu Whales Poised to Drive SHIB Prices Upwards</a> appeared first on <a href="https://www.ethnews.com" rel="noopener noreferrer nofollow">ETHNews</a>.</p>

Shiba Inu Whales Poised to Drive SHIB Prices Upwards

Зміст

ETHNews

Інші статті, опубліковані 12 лип. 2024 р.

JPMorgan Predicts Bullish Bitcoin Rebound in August

German Government’s Bitcoin Holdings Drop 90% to 6,394 BTC

How Law Enforcement Grapples with Advanced Crypto Laundering – Can They Catch Up?

The Millionaire's Club: Tokens That Transformed Ordinary People into Wealthy Investors:

Crypto Expert Posts $17 XRP Prediction, Polkadot Ecosystem Surges, Rollblock Becoming Fastest-Gro...

Here’s Why Bitcoin Is Bound To Surpass $60K Next Week!

Приєднуйтеся до нашої безкоштовної розсилки для отримання щоденних оновлень щодо крипто!