Bittime –Shiba Inu (SHIB)skyrocketed 52% in 24 hours, fueled by a massive transfer from a mysterious investor. The transaction involved moving 1.25 trillion SHIB, worth $41 million, from Cumberland to Robinhood. This movement also sparked speculation amongcrypto.
Even though it experienced a correction to the level of $0.000037, Shiba Inu still has the potential to rise 56% to reach its all-time high. The increasing trading volume also supports the potential for price recovery.
Shiba Inu's recent price spike caught the attention of the crypto world. This meme coin experienced an extraordinary increase of 289% in just a week.
This price increase coincided with an increase in large transactions. This has also given rise to speculation about the influence of large investors on Shiba Inu price movements.
One transaction in the spotlight was the transfer of 1.25 trillion SHIB, worth more than $41 million, from crypto trading firm Cumberland to popular trading platform Robinhood. These transfers came from larger wallets, with total crypto asset holdings worth over $435 million, of which $345 million consisted of Shiba Inu.
Shiba Inu's price surge briefly saw it reach a high of $0.00045, a level last seen in December 2021, not long after its all-time high. However, this token then experienced a correction to the level of $0.000037. However, this price still has the potential to rise 56% to reach its record high.
Despite the correction, the increase in trading volume suggests that Shiba Inu may be preparing to try again to reach its previous high.
The recent movements of whales and large transactions on Shiba Inu raise questions about the driving factors behind its impressive performance. Some speculate that these big investors may be strategically influencing the market, while others attribute the rise to broader bullish sentiment in the crypto market.
Overall, Shiba Inu's recent price movements highlight the volatile nature of the crypto market and the potential impact of large transactions on its price dynamics.
Check Today's Crypto Market:
Understanding What Whales Are in the Crypto Ecosystem
In the crypto world, the term “whale” refers to an individual or entity that holds large amounts of crypto assets in their portfolio. In general, “whale” is often used to refer to large holders of assets such as Bitcoin, Ethereum, or other cryptocurrencies.
A “whale” usually has significant influence in the crypto market due to their capacity to make large trades that can influence the price of an asset. A large buying or selling action from a whale can trigger significant price changes in a short period of time.
Whales can consist of individuals, companies, or small groups of investors who have access to large amounts of crypto assets. They often have different trading strategies, including arbitrage, short-term trading, or even long-term investing.
The activity of “whales” is often a concern in the crypto community because it can provide clues or signals about market direction. For example, if a large whale begins buying or selling large amounts of an asset, it could indicate changing market sentiment or a new trend developing.
However, it is important to remember that not all whale activity always indicates the correct direction of the market. Sometimes, whales can manipulate the market for their own benefit or to take advantage of certain situations in the crypto market.
In crypto trading, understanding “whale” behavior can be an important part of a trading strategy, but it is also important to consider other factors such as fundamental and technical analysis to make wise trading decisions.
Also read How to Buy Crypto:
How to Buy Shiba Inu (SHIB) on Bittime
You can buy and sell Shiba Inu (SHIB) in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
Shiba Inu (SHIB) is available on Bittime with the market pair SHIB/IDR . To be able to buy SHIB IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn the complete guide on how to buy Shiba Inu (SHIB) on Bittime .
Monitor price chart movements of Shiba Inu (SHIB) , Bitcoin (BTC), Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also Read:
Shiba Inu (SHIB): What is it, How Does It Work, and Why is it Popular?
What is Shiba Inu Token (SHIB)? Concept and Function
SHIB/USDT: Fantastic Price Increase, Departed Whales Starting to Return?
DISCLAIMER : This article is informational in nature and is not an offer or solicitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
Comments
0 comments
Please sign in to leave a comment.