At the current moment, SHIB is valued at $0.00002532, experiencing a decrease of 1.76%.
Over the last few hours, whales have amassed a total of 1.356 trillion SHIB tokens.
Whale activity surrounding the Shiba Inu (SHIB) token has seen a significant increase, as recent Lookonchain data reveals substantial investments from large holders. In the past 12 hours, a total of nine wallets, including two major whales, have acquired 1.356 trillion SHIB tokens at an average price of $0.00002596. This investment amounted to $35.2 million, showcasing confidence within the SHIB community despite market fluctuations.
In a span of just six hours, an investor has spent approximately 4,849 ETH, equivalent to $18.44 million, to purchase 715.9 billion SHIB tokens. This purchase reflects a bullish trend among cryptocurrency whales, taking advantage of lower prices during market downtrends. Notably, this investor had previously invested $400,000 in SHIB, resulting in a substantial profit of $121 million, establishing them as one of the top SHIB traders.
Recent whale activities suggest that large investors are moving their assets from centralized exchanges to more secure platforms. This shift not only demonstrates their long-term commitment to SHIB but also reflects a strategic approach to asset management during market downturns.
SHIB is currently trading at $0.00002532, indicating a decline of 1.76% in the last 24 hours. The market cap stands at $14.91 billion, with trading volume decreasing by 30.07% to $395 million. The Relative Strength Index (RSI) sits at 51.79, signifying a neutral market sentiment with a balance between bullish and bearish positions.
With reduced volatility and trading volume, some investors are holding back while whales are entering the market. The market sentiment remains neutral, with recent price movements not leaning towards bullish or bearish trends.
In other news, SEC Chair Gensler has linked the approval timeline for an Ether ETF to the issuer’s response speed.