{"id":786,"date":"2024-08-25T02:30:01","date_gmt":"2024-08-25T02:30:01","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=786"},"modified":"2024-08-25T02:30:01","modified_gmt":"2024-08-25T02:30:01","slug":"shiba-inu-whales-are-quietly-accumulating-shib-can-this-send-price-to-0-00005","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=786","title":{"rendered":"Shiba Inu Whales Are Quietly Accumulating SHIB \u2013 Can This Send Price To $.0.00005?"},"content":{"rendered":"

Shiba Inu (SHIB) has experienced a period of relative calm in recent days<\/a>, characterized by low price volatility leading up to a 6% increase in the last 24 hours. The phase has been mostly characterized by low price volatility despite huge movements on-chain. <\/p>\n

Interestingly, it seems the trend has sparked an increase in SHIB accumulation among some large holders. As such, the accumulation has sparked theories of the return of a bullish upside<\/a> for SHIB, which could mimic a rally witnessed in February.\u00a0<\/p>\n

Shiba Inu (SHIB) has recently been defined by significant whale transactions, underscoring the heightened activity among large holders<\/a>. A prime example is the recent withdrawal of $1 million worth of SHIB from the crypto exchange Robinhood by the prominent market maker Wintermute. <\/p>\n

Shiba Inu: Strategically Transferred<\/strong><\/h2>\n

According to on-chain data from Arkham Intelligence, these tokens were not simply held but were strategically transferred among various leading crypto exchanges.\u00a0<\/p>\n

In addition to this, on-chain data highlights a broader trend of large transactions that suggest whales are accumulating SHIB at current low prices, potentially in anticipation of an upcoming price surge. Data from<\/a> IntoTheBlock indicates that large SHIB transactions, defined as those exceeding $100,000, have spiked by an impressive 71% in the past 24 hours alone. <\/p>\n

This metric, which specifically tracks these substantial transactions, shows that the volume of these large trades has exceeded 2.1 trillion SHIB, worth approximately $30 million in just the last 24 hours.\u00a0<\/p>\n

This surge in whale activity has not gone unnoticed by the broader crypto community. A SHIB analysis recently posted on TradingView<\/a> interpreted the SHIB price action as strategic moves by large SHIB holders who are taking advantage of the current narrow price range. Interestingly, this is a well-known trend among SHIB whales that have often preceded price rally.\u00a0<\/p>\n

Using the Wyckoff Accumulation Method, analyst CryptoCheck likened the current price action to the November 2023\u2013January 2024 accumulation, which culminated in a 330% breakout in February. Given these similarities, CryptoCheck has predicted that the ongoing accumulation could soon result in a comparable breakout. The predicted price target is $0.00005, representing a 240% increase from the current price level.\u00a0\u00a0<\/p>\n

Current SHIB Price Action<\/h2>\n

As of the latest update, Shiba Inu is experiencing a significant price rally amid a broader influx of capital into the cryptocurrency market. Notably, the 13th largest cryptocurrency by market cap has risen by 15% over the past week, outperforming many other major crypto assets. This surge in value aligns with the increased whale activity, which has bolstered positive sentiment<\/a> around SHIB.<\/p>\n

At the time of writing, SHIB is trading at $0.00001534 and is up by 7% in the past 24 hours. The cryptocurrency still has a long way to go to the $0.00005 price level.<\/p>\n

Featured image from The UBJ, chart from TradingView<\/em><\/p>","protected":false},"excerpt":{"rendered":"

Shiba Inu (SHIB) has experienced a period of relative calm in recent days, characterized by low price volatility leading up to a 6% increase in the last 24 hours. The phase has been mostly characterized by low price volatility despite huge movements on-chain. Interestingly, it seems the trend has sparked an increase in SHIB accumulation […]<\/p>\n","protected":false},"author":0,"featured_media":787,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-786","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/786"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=786"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/786\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/787"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=786"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=786"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=786"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}