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Sujit Kumar
Sep 10, 2024
by Sujit Kumar

Shiba Inu Sees Massive Whale Activity Surge: What’s Next?

Shiba Inu Sees Massive Whale Activity
Shiba Inu (SHIB), the popular dog-themed cryptocurrency, has experienced a significant increase in whale activity. According to data from IntoTheBlock, the volume of large SHIB transactions surged by 367%, reaching $43.52 million, or approximately 3.21 trillion SHIB. This rise in whale activity indicates heightened participation from large investors, who are either buying or selling substantial amounts of SHIB.

SHIB Price Rebounds Amid Whale Activity

The surge in whale transactions coincides with a 2.22% rise in SHIB's price over the last 24 hours. Following a low of $0.00001231 on September 6, Shiba Inu has been in recovery mode, reaching a high of $0.0000137 by September 9. At the time of writing, the price slightly eased to $0.0000134. The overall market recovery, with Bitcoin bouncing back after a tough start to the month, has contributed to SHIB’s rebound.

Market Outlook: SHIB’s Potential for Further Gains

The market is now watching SHIB closely, with bullish sentiment rising among investors. If Shiba Inu continues its upward momentum, a break above the 50-day and 200-day Simple Moving Averages (SMA) could see SHIB aiming for a price rally toward $0.00003. As cryptocurrency prices generally improve in the fourth quarter, Shiba Inu may benefit from positive market conditions.

Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
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Shiba Inu Sees Massive Whale Activity
Shiba Inu Sees Massive Whale Activity Surge: What’s Next?
Sujit Kumar
Sujit received his Bachelors in Science from the LNMU Darbhanga. He is currently working as a Content Strategist. He has more than three years of professional experience in information systems, security policies, technologies, and Cryptocurrency. He has published 6 books in the area of information security and assurance. He has published more than 50 research articles in leading journals Regarding the Latest and Breaking Crypto News and updates. His research interests include access control, computer forensics, Digital Marketing, Web development, business hacks, player experience, and virtual storytelling.

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