- Whale activity has surged around Shiba Inu (SHIB), with over 8.18 trillion tokens moved from Crypto.com to anonymous wallets, signaling potential accumulation and confidence in the token’s future.
- SHIB’s price, currently up 2.2% at $0.00002377, continues to show bullish momentum amid rising trading volumes and market interest.
Over the past hour, Shiba Inu (SHIB) transactions have drawn attention following an unusual series of movements. Whale Alert, a leading analytics platform, reported that at least 8,184,600,000,000 SHIB were transferred from Crypto.com, one of Singapore’s top crypto exchanges, to anonymous wallets. These transactions highlight significant accumulation activity, sparking speculation about SHIB’s future price trajectory.
Whales Make Big Moves
The series of transactions involved substantial sums of SHIB, with one notable transfer of 1,636,940,000,000 SHIB, valued at $39,038,563. The subsequent transfers showed slightly lower amounts, indicating a systematic buy-up. Such significant transfers out of an exchange often signal accumulation by whales, a trend that typically precedes a potential price surge.
Crypto.com, which is not widely associated with Shiba Inu ecosystem buzz, played a key role in these transactions, adding a unique angle to the current activity. The timing is particularly intriguing, as SHIB’s price has recently shown bullish momentum.
Shiba Inu’s Growing Confidence
At the time of writing, Shiba Inu is trading at $0.00002377, marking a 2.2% increase in 24 hours. This price uptick aligns with a rise in trading volume, showcasing growing interest and confidence among investors. Betting on SHIB during bullish periods demonstrates optimism regarding the token’s long-term potential.
The recent whale activity isn’t isolated. Shiba Inu has seen significant trading volumes across other major platforms like Binance, further solidifying its position as a favorite among high-volume traders.
The Road Ahead for SHIB
Currently ranked as the second-largest meme coin by market capitalization at $14.16 billion, Shiba Inu remains a prominent player in the cryptocurrency market. Analysts believe that the token’s ecosystem advancements and sustained whale interest could drive further price growth.
With its community’s strong backing and ongoing development initiatives, SHIB continues to maintain its place in the spotlight, potentially paving the way for new highs in the near future.