Shiba Inu (SHIB) has been pretty calm lately, with prices not moving much. But even though the price hasn’t been super volatile, there’s been a lot of activity behind the scenes.
Whales Are Making Moves
Big investors, called whales, have been quietly buying up SHIB. One example is Wintermute, a big market maker, who recently moved $1 million worth of SHIB off the Robinhood exchange.
On-chain data shows that these whales aren’t just holding onto the SHIB. They’re moving it around between different exchanges, which suggests they’re getting ready to do something big.
Large Transactions Are Spiking
There’s been a huge increase in large SHIB transactions, those over $100,000. In the last 24 hours alone, the number of these transactions has jumped by 71%! That’s a lot of SHIB changing hands.
Could This Lead to a Price Surge?
Some analysts think this whale activity could be a sign that SHIB is about to take off. They’re comparing the current situation to what happened in November 2023 and January 2024, when whales were also accumulating SHIB. That led to a massive price jump of 330% in February.
One analyst predicts that SHIB could reach $0.00005, which would be a 240% increase from where it is now.
SHIB Is on the Rise
Right now, SHIB is doing well. It’s up 15% in the last week, outperforming many other cryptocurrencies. This surge in price seems to be linked to the increased whale activity.
So, will SHIB reach $0.00005? It’s still early to say, but the whales are making their moves, and that could mean big things for SHIB in the future.
