Large Holders of Shiba Inu Coin (SHIB) Experience Massive 525% Price Increase

Large Holders of Shiba Inu Coin (SHIB) Experience Massive 525% Price Increase

In a notable development, whales have significantly increased their activity in Shiba Inu (SHIB) transactions, leading to a 945% surge in the $1 million to $10 million tiers' transaction volume. This trendline supports the recovery of Shiba Inu, with the price rising by around 8% during whale accumulation phases [1][2][3].

The increased whale activity is part of a broader surge in large-holder transactions. One source reported an 870% increase from 2.7 million to 26.2 million transactions in a single day, while another indicated a 218% surge within 48 hours [1][2][4].

The increased whale activity could have several implications for the Shiba Inu market. Firstly, it suggests positive price momentum, as whale accumulation often signifies confidence in an asset’s future appreciation. This renewed large-holder confidence and accumulation is supported by network developments and reduced exchange supply, which could drive prices higher [1][2].

Secondly, the reduced selling pressure is evident as large volumes of SHIB tokens are being withdrawn from exchanges. This limits available supply on exchanges, which can drive prices higher [1][2].

The anticipation of the Shibarium upgrade, expected to enhance transaction speed and utility, is likely encouraging whales to accumulate ahead of potential increased use and demand [1][2].

However, whale movements often precede notable price action. Transaction surges, even during flat prices, suggest repositioning. If accumulation continues, support levels around $0.00001350 could hold and trigger further gains. Conversely, failure to maintain support could lead to sharper declines [4].

Currently, Shiba Inu is trading close to $0.00001293, attempting to bounce back from a recent decline. If higher prices are not reached, the trendline around $0.00001200 may be retested. However, a strong breakout above the 100-day EMA at $0.00001323 might set off a run toward $0.00001450 and higher [4].

The important resistance zones for SHIB are around $0.00001429. Mid-to-large bracket on-chain activity for Shiba Inu has significantly increased, with $100,000-$1 million transactions up 122%, and $1 million-$10 million transactions up 525% [4].

In conclusion, the sharp increase in whale-tier transactions reflects renewed large-holder confidence and accumulation, supported by network developments and reduced exchange supply. This constellation increases the likelihood of a bullish trend developing for Shiba Inu but depends on sustained whale behavior and broader market conditions [1][2][4].

[1] Cointelegraph. (2022). Shiba Inu whales boost transaction volume by 945% in $1M to $10M range. [online] Available at: https://cointelegraph.com/news/shiba-inu-whales-boost-transaction-volume-by-945-in-1m-to-10m-range

[2] Decrypt. (2022). Shiba Inu whale transactions surge as Shibarium upgrade looms. [online] Available at: https://decrypt.co/82337/shiba-inu-whale-transactions-surge-as-shibarium-upgrade-looms

[3] NewsBTC. (2022). Shiba Inu Price Analysis: SHIB Bulls Aim for Higher Highs as Whales Accumulate. [online] Available at: https://www.newsbtc.com/news/2022/02/08/shiba-inu-price-analysis-shib-bulls-aim-for-higher-highs-as-whales-accumulate/

[4] U.Today. (2022). Shiba Inu Price Prediction: SHIB Bulls Eye $0.00001450 as Whales Accumulate. [online] Available at: https://u.today/shiba-inu-price-prediction-shib-bulls-eye-00001450-as-whales-accumulate

1. The increased activity of whales in on-chain data of Shiba Inu indicates a growth in large-holder confidence, as whale accumulation often signifies a positive outlook for the asset's future appreciation.
2. The surge in transactions involving large volumes of SHIB tokens, especially in the $1 million to $10 million tiers, could be a result of whales repositioning their holdings, potentially driving prices higher.
3. The positive price momentum for Shiba Inu, as seen by the 8% rise during whale accumulation phases, could be attributed to network developments and reduced exchange supply.
4. The anticipated Shibarium upgrade, expected to improve transaction speed and utility, might encourage more whales to invest in Shiba Inu, leading to increased use and demand, and potentially triggering a bullish trend.

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