Whales Acquire 1.67 Trillion SHIB Tokens, Raising Speculation for Potential Bullish Momentum
The post Whales Acquire 1.67 Trillion SHIB Tokens, Raising Speculation for Potential Bullish Momentum appeared on BitcoinEthereumNews.com.
In a significant shift in the cryptocurrency market, crypto whales have acquired 1.67 trillion Shiba Inu (SHIB) tokens from exchanges within the past 24 hours. This surge in acquisition has sparked discussions among traders, with forecasts indicating that SHIB could climb by 45% if it manages to close above the key resistance level of $0.000025. A noted crypto expert remarked, “The recent increase in SHIB holdings among large investors suggests a potential bullish momentum in the short term.” Crypto whales have acquired 1.67 trillion SHIB tokens, signalling potential bullish momentum as analysts forecast a 45% price rally. Massive Acquisition: Crypto Whales’ Interest in SHIB Tokens The recent action by significant holders, or “whales,” in the cryptocurrency market demonstrates increasing confidence in Shiba Inu (SHIB). The acquisition of 1.67 trillion tokens observed over the last 24 hours points toward a potential shift in market sentiment. This activity coincides with an overview of exchange outflows, which surged by 62% on November 7, previously indicating notable price movements. Furthermore, data from IntoTheBlock shows a remarkable 98% increase in large transaction volumes for SHIB, underscoring growing interest by both whales and institutional investors. The combination of these factors highlights a strong buying opportunity as expectations remain high for a breakout. SHIB’s Technical Landscape: Analysis and Key Levels From a technical standpoint, indicators show that SHIB is currently on the verge of a breakout from a bullish descending triangle pattern on the four-hour chart. If SHIB successfully closes a candle above the $0.000025 level, analysts predict a rally that could elevate the price to $0.0000365, effectively a 45% increase in value. Source: Trading View Additionally, SHIB’s trading position above the 200 Exponential Moving Average (EMA) on both the four-hour and daily charts signifies a prevailing uptrend. The Relative Strength Index (RSI) further indicates possible positive…
Filed under: News - @ November 22, 2024 8:26 am