The post Crypto Whale’s Return Hints at New Bull Run appeared on BitcoinEthereumNews.com.

Shiba Inu (SHIB), one of the most popular memecoins in the cryptocurrency industry, has seen significant gains recently. Riding the memecoin craze, SHIB is climbing again, currently trading at $0.00002616—a 9.53% increase in the last 24 hours—much to the delight of its investors. Here’s all you need to know to make your next moves. A Whale’s Return: Big Buy Alert According to LookonChain, a major blockchain analytics platform, a crypto whale who previously made huge profits from Shiba Inu (SHIB) is accumulating SHIB again. This smart trader initially invested around $400,000 to buy 5.5 trillion SHIB tokens early in SHIB’s history. During two market peaks, he sold these holdings for about $121 million, securing an impressive profit of more than $120 million. A $SHIB super big winner is buying $SHIB crazily, spending 4,849 $ETH($18.44M) to buy 715.9B $SHIB in the past 6 hours. This guy spent only ~$400K to buy 5.5T $SHIB in the early stage and sold for ~$121M at 2 peaks. He made more than $120M on $SHIB before, an amazing gain!😱… pic.twitter.com/iREp5jfj75 — Lookonchain (@lookonchain) June 5, 2024 Market Impact Such big buying activity often attracts attention within the crypto community, as it can indicate potential future movements in the token’s price. Given this investor’s successful history with SHIB, his recent purchases are seen as a bullish sign for the token’s future. In the past six hours, this investor has spent 4,849 ETH, equivalent to $18.44 million, to acquire 715.9 billion SHIB tokens. This massive purchase shows the investor’s continued confidence in SHIB, even after previously making huge profits from the token. Shiba Inu Price Analysis SHIB has crossed the 50-day Exponential Moving Average (EMA) at $0.000025, which is a positive sign. However, to keep this uptrend, SHIB needs to turn the $0.00003 level from resistance into…

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Filed under: News - @ June 5, 2024 6:24 pm