Shiba Inu (SHIB) is seeing a huge surge in large transactions – over 150% in just four days! This has many believing the big investors (“whales”) are back in the game.
Whale Activity Explodes
Data from IntoTheBlock shows a massive jump in SHIB whale trading between March 2nd and 5th. Trading volume went from $17.28 million to a 7-day high of $39.84 million. This is great news for SHIB, as it suggests renewed confidence from these major players. Before this, whale activity was low, indicating they were sitting on the sidelines.
The “Concentration” metric from IntoTheBlock also supports this, showing whales are actively accumulating more SHIB. Increased whale activity usually means a price increase is on the horizon.
Price Predictions and Future Outlook
A key milestone will be SHIB reclaiming the $0.00002 price level. This would confirm the ongoing bull run. However, other indicators like network growth need to show positive signs for this momentum to last.
Crypto analyst Crypto ELITES predicts SHIB could reach as high as $0.000472905, outlining three potential price targets: $0.000085171, $0.000183312, and $0.000472905. They believe SHIB’s outlook is positive, especially if Bitcoin’s dominance in the market decreases.
Another analyst, Javon Marks, predicts a potential 400%+ gain, taking SHIB to $0.000081. He points to SHIB’s breakout in late 2022/early 2023 as a reason for optimism. Reaching $0.000081 could potentially lead to a new all-time high.
Current Price and Conclusion
At the time of writing, SHIB is trading around $0.00001361, up over 4% in the last 24 hours. The return of whale activity is a significant positive sign for SHIB, but it’s important to watch other on-chain metrics to confirm sustained growth.
