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>
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<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

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