{"id":558038,"date":"2023-10-28T18:00:35","date_gmt":"2023-10-28T18:00:35","guid":{"rendered":"https:\/\/wncen.com\/?p=558038"},"modified":"2024-06-11T07:47:36","modified_gmt":"2024-06-11T07:47:36","slug":"shiba-inu-accumulation-shib-whales","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/shiba-inu-coin\/shiba-inu-accumulation-shib-whales\/","title":{"rendered":"Shiba Inu Accumulation: You Won\u2019t Believe How Much SHIB Whales Have Bought"},"content":{"rendered":"

Shiba Inu is up by 12.15% in a 7-day timeframe as investors continue to <\/span>accumulate cryptocurrencies in the wider crypto market<\/span><\/a>. However, on-chain data has shown that accumulation has been going on for a while, with SHIB whales now accumulating $300 million in the past three months.\u00a0<\/span><\/p>\n

Shiba Inu Whales Have Been Accumulating Large Amounts Of SHIB<\/h2>\n

On-chain data from <\/span>IntoTheBlock has shown<\/span><\/a> that SHIB whales, meaning large holders, have been accumulating huge amounts of SHIB over the last few months. Large holders in the Shiba Inu ecosystem are divided into 12 whales (those with more than 1% of circulating supply) and 47 investors (those with more than 0.1% of circulating supply). These top SHIB wallet addresses have added an increase of +33.17%, around $300 million worth of SHIB in just the last 90 days.<\/span><\/p>\n

Related Reading: Litecoin Whales Are Back In The Game, Can Price Reach $100?<\/a><\/div>\n

Data from the on-chain tracker Whale Alerts has shown various massive transfers during this time period. When investors accumulate large amounts, it often signals an incoming price rally.\u00a0<\/span><\/p>\n

\n

\ud83d\udea8 \ud83d\udea8 4,544,030,677,374 #SHIB<\/a> (32,142,200 USD) transferred from unknown wallet to unknown wallethttps:\/\/t.co\/Y7jvL2qtJV<\/a><\/p>\n

\u2014 Whale Alert (@whale_alert) October 21, 2023<\/a><\/p><\/blockquote>\n

These massive accumulations by large holders point to their bullish belief in SHIB, despite the crypto having a weak momentum before the ongoing spike in the crypto market.\u00a0<\/span><\/p>\n

This accumulation can, for the most part, be traced back to the <\/span>introduction of Shibarium<\/span><\/a>. The layer-2 solution developed by Shiba Inu, known as Shibarium, has had a <\/span>good deal of success<\/span><\/a>. At the time this article was written, the Shibarium blockchain had a total of 3,685,073 transactions and 1,257,858 wallet addresses.<\/span><\/p>\n

SHIB Future Outlook<\/h2>\n

SHIB has had a <\/span>price spike in<\/span><\/a> relation to the ongoing inflow of funds into the crypto market currently being spearheaded by Bitcoin. At the time of writing, SHIB is trading at $0.00000784 after facing rejection at the $0.0000082 mark.\u00a0<\/span><\/p>\n

Bulls have defended the $0.0000061 support level and $0.0000077 levels very strongly to form support after the price tested the latter level multiple times. A sustained move above $0.0000082 could send SHIB skyrocketing to its August high of $0.00001137.<\/span><\/p>\n

Related Reading: Bitcoin Price Rally: Analyst Sets $45,000 Target And It\u2019s Closer Than You Think<\/a><\/div>\n

Large SHIB holders now hold 71% of the total circulating supply, and some of them can manipulate the price to their advantage. While whale accumulation is a positive sign, there are <\/span>other things to consider<\/span><\/a> regarding SHIB’s price outlook. On the other hand, the Shiba Inu developers and team leaders have pointed at <\/span>upcoming projects in the ecosystem<\/span><\/a>, one of which is a <\/span>stablecoin based on Shibarium<\/span><\/a>. If successful, a SHIB-based stablecoin could attract new investors to the Shiba Inu ecosystem, leading to a <\/span>strong SHIB price spike<\/span><\/a>.<\/span><\/p>\n

\"XRP<\/p>\n

SHIB price readies to test $0.000008 | Source: SHIBUSD on Tradingview.com<\/a><\/pre>\n
Featured image from iStock, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Shiba Inu is up by 12.15% in a 7-day timeframe as investors continue to accumulate cryptocurrencies in the wider crypto market. However, on-chain data has shown that accumulation has been going on for a while, with SHIB whales now accumulating $300 million in the past three months.\u00a0 Shiba Inu Whales Have Been Accumulating Large Amounts Of SHIB On-chain data from IntoTheBlock has shown that SHIB whales, meaning large holders, have been accumulating huge amounts of SHIB over the last few months. Large holders in the Shiba Inu ecosystem are divided into 12 whales (those with more than 1% of circulating supply) and 47 investors (those with more than 0.1% of circulating supply). These top SHIB wallet addresses have added an increase of +33.17%, around $300 million worth of SHIB in just the last 90 days. Related Reading: Litecoin Whales Are Back In The Game, Can Price Reach $100? Data from the on-chain tracker Whale Alerts has shown various massive transfers during this time period. When investors accumulate large amounts, it often signals an incoming price rally.\u00a0 \ud83d\udea8 \ud83d\udea8 4,544,030,677,374 #SHIB (32,142,200 USD) transferred from unknown wallet to unknown wallethttps:\/\/t.co\/Y7jvL2qtJV \u2014 Whale Alert (@whale_alert) October 21, 2023 These massive accumulations by large holders point to their bullish belief in SHIB, despite the crypto having a weak momentum before the ongoing spike in the crypto market.\u00a0 This accumulation can, for the most part, be traced back to the introduction of Shibarium. The layer-2 solution developed by Shiba Inu, known as Shibarium, has had a good deal of success. At the time this article was written, the Shibarium blockchain had a total of 3,685,073 transactions and 1,257,858 wallet addresses. SHIB Future Outlook SHIB has had a price spike in relation to the ongoing inflow of funds into the crypto market currently being spearheaded by Bitcoin. At the time of writing, SHIB is trading at $0.00000784 after facing rejection at the $0.0000082 mark.\u00a0 Bulls have defended the $0.0000061 support level and $0.0000077 levels very strongly to form support after the price tested the latter level multiple times. A sustained move above $0.0000082 could send SHIB skyrocketing to its August high of $0.00001137. Related Reading: Bitcoin Price Rally: Analyst Sets $45,000 Target And It\u2019s Closer Than You Think Large SHIB holders now hold 71% of the total circulating supply, and some of them can manipulate the price to their advantage. While whale accumulation is a positive sign, there are other things to consider regarding SHIB’s price outlook. On the other hand, the Shiba Inu developers and team leaders have pointed at upcoming projects in the ecosystem, one of which is a stablecoin based on Shibarium. If successful, a SHIB-based stablecoin could attract new investors to the Shiba Inu ecosystem, leading to a strong SHIB price spike. SHIB price readies to test $0.000008 | Source: SHIBUSD on Tradingview.com Featured image from iStock, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":558041,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[92559],"tags":[83668,89178,84473,85817,83667,89157,86437,86781,84562,84558,14781],"class_list":["post-558038","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-shiba-inu-coin","tag-shib","tag-shib-news","tag-shib-price","tag-shib-whales","tag-shiba-inu","tag-shiba-inu-news","tag-shiba-inu-price","tag-shiba-inu-whales","tag-shibusd","tag-shibusdt","tag-whales"],"acf":[],"yoast_head":"\nShiba Inu Accumulation: You Won\u2019t Believe How Much SHIB Whales Have Bought<\/title>\n<meta name=\"description\" content=\"Shiba Inu is up by 12.15% in a 7-day 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. 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