What happened?
In a significant surge of activity, Shiba Inu whales moved over 7 trillion SHIB in a single day. This event was accompanied by a total of 9,330 SHIB transactions recorded on the same day, a peak level observed only three times this year. The price of SHIB briefly spiked to nearly $0.000015 during the transfer spree, indicating strong bullish intent.
Who does this affect?
This movement affects not only those who own Shiba Inu tokens but also potential investors monitoring the market for indicators of upswing momentum. The introduction of a Dogecoin ETF could act as a catalyst behind the surge in SHIB accumulation. Investors anticipating the next explosive breakout of the meme coin may take strategic positions based on these recent developments.
Why does this matter?
The large-scale movement of SHIB tokens carries significant market impact, as it signals potential deep-pocketed accumulation and bullish intent. If confirmed, this could mark the start of a major upswing, supporting an optimistic prediction for Shiba Inu’s price. Additionally, SHIB’s movement might set the stage for a renewed push higher if its momentum returns, potentially exceeding key resistance levels.