Fun

Shiba Inu Price Watch: 60% Rally Catches Whale Attention – Is More Growth Ahead?

News Feed - 2024-11-14 08:11:22

Este artículo también está disponible en español.


Shiba Inu (SHIB) has had a significant surge this week, with its price increasing by over 60% in the last seven days. This increase is indicative of a broader trend in the cryptocurrency market, where significant coins such as Dogecoin are also reaping the rewards of overall market optimism. Related Reading XRP Price Patterns And 2024 Election Spark Talk Of A New Rally 21 hours ago


SHIB’s ascent, presently valued at $0.00002803, is gathering traction, drawing the interest of both retail and institutional investors. In the past 24 hours, SHIB’s trading volume reached $5.69 billion, clearly indicating market awareness. This behavior indicates that SHIB may be preparing for substantial price fluctuations, particularly if market sentiment continues to be optimistic. SHIB up over 60% in the last week. Source: Bitstamp Favorable Sentiment For The Memecoin


A huge portion of SHIB growth can be attributed to the positive sentiment that exists in the cryptocurrencies market. Recent election results in the United States have instilled growing confidence, which seems to be spreading within the crypto space.


The broader crypto landscape’s renewed confidence has largely acted as a catalyst in pushing the price up for SHIB. Some analysts even foresee that the price might shoot up as much as 306% based on this positive outlook.


This optimism has resulted in a significant increase in whale activity, with substantial investors executing transactions that may substantially enhance SHIB’s value in the forthcoming months. With the growing interest in meme coins, SHIB’s market position appears increasingly favorable. SHIB market cap currently at $14 billion. Chart: TradingView.com Whale Activity Indicates Confidence


One major determinant of SHIB’s growth is whale activity. Previously quiet for eight months, an investor has now reappeared and sent significant amounts of SHIB to exchanges. One such deal is the $2.81 million worth of 100 billion SHIB transfer to Gemini. This trade among others shows that whales are positioned deliberately to take advantage of SHIB’s recent spike. Early $SHIB buyer “0xd6b,” with a $120M profit, is back to offload tokens after 8 months of inactivity.


An hour ago, this whale deposited 100B $SHIB ($2.81M) to #Gemini, leaving 2.5T $SHIB ($73M) remaining.


Total estimated profit from $SHIB: $120M (+415%).


Follow @spotonchain… https://t.co/yGvZt3QyKC pic.twitter.com/SODtxnIZ77


— Spot On Chain (@spotonchain) November 12, 2024


The whale holds a massive 2.5 trillion SHIB, worth around $73 million even after moving large volumes. This behavior usually shows trust in the potential of the asset, implying that large investors are orienting themselves for continuous expansion. Related Reading Shiba Inu Strategic US Hub Plan Sends SHIB Price On A 23% Moonshot 2 days ago Shiba Inu & Market Dynamics


SHIB’s future will likely be influenced by persistent whale activity and prevailing market mood. The cryptocurrency market’s evolution indicates a robust development potential for SHIB. The growing interest from institutional investors, along with the fervor of regular traders, may create conditions for another substantial price surge.


Nonetheless, with profit-taking already underway, it is evident that certain investors are attempting to realize their profits. The euphoria surrounding SHIB, driven by favorable sentiment and substantial transactions, remains elevated, with many wagering on the memecoin’s further success. The forthcoming months will be pivotal in ascertaining whether SHIB can sustain its rising trajectory or will encounter a setback.


Featured image from Pngtree, chart from TradingView

News Feed

Bitcoin’s Average Transfer Fees Experience Sharp Increase: 122% Rise in 10 Days
Bitcoin’s Average Transfer Fees Experience Sharp Increase: 122% Rise in 10 Days Statistics show transfer fees on the Bitcoin network have increased 122% since the end of last mon
Ethereum ETF flows flip positive despite Grayscale outflows topping $2B
Tom Mitchelhill3 hours agoEthereum ETF flows flip positive despite Grayscale outflows topping $2BEther ETFs posted a net inflow of $26.7 million on Aug. 1, with inflows into BlackRock’s fund outpacing outflows from Gra
XRP Price Flashes Signal That Triggered 600% Rally In November 2024
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
WazirX hacker funnels $149M of SHIB, MATIC other altcoins into ETH
Brayden Lindrea3 hours agoWazirX hacker funnels $149M of SHIB, MATIC other altcoins into ETHBlockchain security firms say bad actors typically move altcoins into Ether to prepare for laundering, as the native token has n
Congress Questions Coinbase, FTX, Binance, Kraken in Crypto Fraud Crackdown
Congress Questions Coinbase, FTX, Binance, Kraken in Crypto Fraud Crackdown A House committee has sent letters to four U.S. federal agencies and five cryptocurrency exchanges askin
Savannah Fortis10 hours agoAI usage on social media has potential to impact voter sentimentThe U.S. presidential election is nearing, and with it comes the use of tech like AI on social media platforms to manipulate vote
Pro-Bitcoin US Lawmaker Cynthia Lummis Joins Senate Banking Committee, Plans to Convince Janet Yellen BTC Is Great Store of Value
Pro-Bitcoin US Lawmaker Cynthia Lummis Joins Senate Banking Committee, Plans to Convince Janet Yellen BTC Is Great Store of Value Pro-bitcoin U.S. Senator Cynthi
Tom Blackstone10 hours agoChibi Finance $1M alleged rug pull: How it happenedThe exploiter used a “panic” function buried within eight different smart contracts to remove $1 million worth of users’ funds without th
Decentralized Storage Provider Says It’s Too Risky for the World to Rely Centralized Cloud Storage Platforms
Decentralized Storage Provider Says It’s Too Risky for the World to Rely Centralized Cloud Storage Platforms In the past year, internet giants like Amazon and Google all experien
Gold Price Nosedives Below $1,500 Following Central-Bank Deluge
The price of gold declined on Thursday, snapping a three-day winning streak after central banks around the world provided a muddied outlook on monetary policy. Gold Slides; Silver Follows
Amaka Nwaokocha10 hours agoAI and real-world assets gain prominence in investor discussionsDiscussions concerning cryptocurrency prices have waned due to a prolonged period of sideways market performance.2963 Total views
Harmony’s $100M Hack Was Due to a Compromised Multi-Sig Scheme, Says Analyst
Harmony"s $100M Hack Was Due to a Compromised Multi-Sig Scheme, Says Analyst On June 23, 2022, the Harmony development team announced that $100 million was siphoned from the Horizo