Shiba Inu (SHIB) has been collected by large whales as a result of recent crypto bloodbaths. According to historical data, Shiba Inu accumulation can trigger a price increase. However, a Twitter analyst commenting on the altcoin trend thinks that the decline for the meme token may continue. We have compiled the latest developments and current predictions from the meme token market for Kriptokoin.com readers.
On-chain data confirms whales are hoarding low price Shiba Inu (SHIB)
According to data from Etherscan, the crypto tracker of the Ethereum network, whales continue to accumulate Shiba Inu at bottom prices. Several whales brought Shiba Inu capital to 63 billion SHIBs. This amount purchased can be tracked by Etherscan to up to four Shiba Inu wallets. Purchases of 6.1 billion and 1 billion Shiba Inu were the first transactions. The other two were massive purchases that raised 28 billion Dogecoins. It can be estimated that some Shiba was transferred to liquidity providers. Other transactions have boosted the SHIB price by increasing the allocation in whale wallets.
On the other hand, despite new developments in the Shiba Inu environment, such as collaboration with Welly’s and whale formation, on-chain activities are declining. It can be said that the decrease in trading volume indicates the decrease in the price of a cryptocurrency. Let’s examine what analysts think about this issue…
Drops could be an opportunity, according to altcoin analysts
WalterCripto Shiba Inu (SHIB), one of the popular Twitter analysts, is expected to drop in price. Here are the reasons:
Update for SHIB Army. SHIB was perfectly predicted by our Trend System (TS), if you believe it is currently in a downtrend, just wait until it reverses. I don’t think there’s anything wrong with relying on SHIB, just be careful and use a trend system so you can jump in when things have a chance to go higher.
Result
In the last drop, whales have accumulated 63 billion Shiba Inu (SHIB). The meme token has been amassed in massive purchases by Ethereum whales as a result of recent crypto bloodbaths that have diversified their whale portfolios. The number of Shiba Inu transactions fell by half, creating a negative mood among investors. Analysts interpret the Shiba Inu price trend as a downward trend.
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