Shiba Inu Follows Bitcoins Lead: 0.75 Correlation Signals Strong Price Dependence

Shiba Inu (SHIB) is highly correlated with Bitcoin, but whale activity, retail interest, and decoupling occurrences could influence its independent price movement.

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Shiba Inu Whales Are Accumulating SHIB, Do They Know Something You Dont?

Shiba Inu (SHIB) whales have been busy in the market lately, as on-chain data suggests that they are positioning themselves for more moves to the upside from the meme coin. This development comes as the crypto token inches close to its all-time high (ATH).  Shiba Inu Whale Accumulates 332 Billion SHIB Tokens On-chain data shows [...]

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Shiba Inu Price Prediction As SHIB Is Mostly Traded By Whales

Shiba Inu price is trading with a bearish bias on Friday as bulls fight to keep SHIB above a critical support level. The dog-themed token [...]

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Shiba Inu Enjoys 8% Spike In Price In Last 7 Days, As SHIB Social Media Interaction Soars

Over the past week, Shiba Inu (SHIB) surged by 8%. In fact, even though the bearish market prevails, Shiba Inu is still performing at its peak. SHIB’s social metrics up by 1.43% Despite Shiba Inu’s social dominance, ROI is down SHIB whales on a shopping frenzy Social media chatter provides that much needed oomph for Shiba Inu (SHIB), triggering a pump in prices. The amplified whale interest plus metaverse updates certainly gave SHIB that push. The increased hype around SHIB could be because of the Whalestats announcement via a tweet stating that SHIB was able to outperform other meme coins and is now on the top rank or first in terms of tokens that are held by the top 500 ETH whales. Related Reading: MANA Seen Rising 11% As Buyers Make A Recovery Attempt SHIB Enjoying A Pump In Social Media Metrics Amazingly enough, SHIB has also registered a spike of 8% in terms of social mentions plus a 10% surge in social engagements. Overall, social media sentiment circling SHIB has been positive all throughout. The chart shows that there is a market volatility seen in terms of SHIB’s social dominance which is currently at 1.43%. Chart: Santiment SHIB tokens are also increasingly burnt and stats on September 5 show that there are over 51 million SHIB tokens burned so far which gives a positive impact on the meme coin. With that in mind, SHIB tokens will also increase in value over the long haul. There is an oversupply of SHIB with its total supply amassing 1 quadrillion which also explains the increase in burn initiatives. Related Reading: Bitcoin Price Watch: BTC Facing Renewed Challenge To Keep Price Above $20,000 Shiba Inu Whales On Shopping Frenzy The increase in burnt tokens plus the boost in social media attention have not affected the volume of SHIB tokens with the meme coin’s volume looking stable and with a surge seen in September 4. Around 300 million SHIB tokens were burned this early in September. In fact, in just 24 hours, it only took around 35 transactions to burn 102k tokens which show as much as a 65% increase in burn rate. Incredibly so, around 528 transactions were enough to burn roughly 3.7 billion SHIB tokens further increasing its scarcity level. Remarkably, whales went on a shopping frenzy for SHIB tokens. In fact, one SHIB whale just made a 2-trillion SHIB transfer which is equivalent to as much as $22 million. While the social media metrics of SHIB is in flying colors, the ROI aspect isn’t doing so well. Only 28% of Shiba Inu investors reaped profits, while 66% experienced losses, and 6% made a break-even. Additionally, Shiba Inu has dropped by more than 85% from its ATH. SHIB total market cap at $6.5 billion on the daily chart | Source: TradingView.com Featured image Fintechs.fi, chart from TradingView.com

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PEPE Whale Makes Big Moves With 1.97T Deposit To Exchange And SHIB Transaction

Recently, a PEPE whale made a series of moves that resulted in over $3 million in realized profits after the token’s recent price surge. The whale then took a new position and showed potential gains. Related Reading: Who Let The DOGE Out? Dog-Themed Coins Soar By 12%, WIF And FLOKI Lead The Way Whale’s Big Moves Bring Big Money As reported by Lookonchain, a blockchain analytics platform, a whale made a big move yesterday after depositing almost 2 trillion PEPE tokens to one of the largest crypto exchanges in the world. This whales shopping spree started June 7, 2023, when Pepe Coin traded at $0.000001054. The address accumulated 1.97 trillion Pepe tokens from June until December last year. Just over two months after the 6-month buying spree, the whale deposited the entirety of its PEPE holdings, worth around $6.07 million, to Binance. According to the blockchain analytics platform, the whale made over $3.49 million in profit in just a few hours. A smart whale deposited all 1.97T $PEPE($6.07M) to #Binance and made a profit of $3.49M. Then he changed his position from $PEPE to $SHIB, withdrawing 75.9B $SHIB($893K) from #Binance 3 hours ago.https://t.co/X67O2VjR1y pic.twitter.com/nL7rRDZCXT — Lookonchain (@lookonchain) February 29, 2024 The whale changed its position and bought 75.9 billion SHIB tokens just a few hours later. Suggesting that the investor saw potential in Shiba Inus future price performance. Whales tend to hold massive influence over the market as any movement of their large holdings could swing the markets sentiment over a cryptocurrency. Typically, when a whale withdraws its holdings from an exchange, investors interpret it as a sign of long-term confidence in that cryptocurrency. On the contrary, when a whale sells large amounts of a coin, investors might take this as a lack of confidence in the token. At the time of the report, the whales massive acquisition of SHIB was worth around $893,000. However, as of this writing, the tokens are worth over $1 million, according to Etherscans value. This showcases that the investment in SHIB increased its value by over $100,000 in less than 12 hours. PEPE And SHIB Performance The whales new investment, Shiba Inu, the 19th largest cryptocurrency and the second largest memecoin by market cap, has shown incredible performance in the last 24 hours. During the last day, SHIBs price skyrocketed 25.5% and currently trades at $0.00001388. Additionally, the tokens market activity has increased by 127.50%, with a trading volume of over $2.65 billion in the last 24 hours. On the other hand, PEPE was making headlines yesterday due to its impressive 140% price jump from the previous week. The frog-themed memecoin seems to be in the middle of a price resurgence fueled by the market dynamics and its social media popularity. However, PEPE trades at $0.000002891 at writing time, representing a 12% decrease in the last 24 hours. Compared to the tokens yesterday performance in the same time frame, a 59.47% increase from the day prior, PEPE seems to be facing a momentary slowdown. Similarly, PEPEs trading volume and market cap decreased by 22.47% and 11.96% on the last day. These metrics hint at a reduction in recent market activity for the cryptocurrency. However, its performance in longer timeframes, especially the 7-day 142% price surge, suggests that the memecoin is still outperforming the global cryptocurrency market, according to CoinGecko. Related Reading: Here Are The Factors Driving The Shiba Inu Recovery Above $0.00001 PEPE is trading at $0.0000028766 in the hourly chart. Source: PEPEUSDT on TradingView.com Featured image from Unsplash.com, Chart from TradingView.com

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Shiba Inu Whale Activity Plunges 79% In Three Months Whats Happening?

The meme coin market has seen a remarkable transformation in the past year, large-cap tokens like Dogecoin (DOGE) and Shiba Inu (SHIB) have managed to stay in the forefront. Specifically, the SHIB token has experienced impressive growth, increasing in value by roughly 65% in the past year. However, the current uncertain climate has not spared any large-cap meme token, including Shiba Inu, with deep corrections and sluggish sideways movement plaguing most of the market in the past two months. As large investors now seem to be exiting the market, this dour condition might persist longer than expected. $1 Million SHIB Transactions On A Steady Decline In a post on the X platform, popular crypto analyst Ali Martinez revealed that the whale class of Shiba Inu investors has become less active in the past three months. This on-chain observation is based on Santiments Whale Transaction Count metric, which tracks the number of SHIB transactions worth more than $1 million. Related Reading: Ethereum Price Prediction: Extremely Strong Support And Monthly 55 EMA Says ETH Is Headed For $4,867 Whales refer to entities or individuals that hold significant amounts of a specific crypto asset (Shiba Inu, in this scenario). Crypto whales are often considered key players in the market, as their buying or selling activities can have a significant impact on the SHIB price; thereby resulting in speculation and potential market shifts. According to Martinez, there has been a 79% dip in the activity of the SHIB whales on the Shiba Inu network, suggesting a possible shift in investor sentiment. A steady decline in whale activity often indicates decreased confidence or interest from major holders, especially as they look to rotate into other assets. As seen with the recent Shiba Inu price action, a sustained downturn in large whale transactions is also often associated with a corresponding decline in value and intermittent sideways movement. Hence, if the price of Shiba Inu is to resurrect from its market slump, whale activity on the network would need to pick up as quickly as possible. Shiba Inu Price Overview As of this writing, the SHIB token is valued at around $0.0000156, reflecting an almost 3% price jump in the past 24 hours. While Shiba Inu seems to be consolidating around the $0.000015 level for most of February, the meme coin is yet to fully recover from its recent plunge toward $0.000012 earlier in the month. According to CoinGecko data, the second-largest meme coin is still down by more than 20% in the last 30 days. Meanwhile, the Shiba Inu price has shrunk by nearly 50% in the past three months. Related Reading: Ethereum Price Could Still Reclaim $4,000 Based On This Bullish Divergence Featured image from Unsplash, chart from TradingView

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Shiba Inu Whale Holding 10% Of Total SHIB Supply Shocks The Market

In a jaw-dropping discovery that has sent shockwaves through the Shiba Inu community, a dormant whale has emerged from hibernation. This anonymous early investor, who holds a staggering 10.15% of the total SHIB supply, has recently made significant moves, causing speculation within the community. The whale, identified by his address “0x140”, has been dormant for [...]

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Shiba Inu (SHIB) Rally Attracts Major Whale as Prices Surge By 60%

Shiba Inu (SHIB), the second-largest meme coin by market cap, has rallied this week. The broader cryptocurrency market rally paved the way for Dogecoin and pushed SHIB up by more than 60%. Shiba Inu is currently at $0.00002803, with a 24-hour trading volume of $5.69 billion. Within the past day, the price of SHIB has […]

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Over $28 Million In SHIB Withdrawn From Exchanges Ahead Of Shibarium Launch

The Shibarium Layer-2 upgrade is launching any day now, and it looks like some big SHIB players are making moves ahead of the launch. According to on-chain data, over $28 million in SHIB tokens have been withdrawn from major crypto exchanges in the just concluded month of July.  Massive Withdrawals Signal Investor Interest in Shibarium According to data shared on Twitter by crypto analyst Ali Martinez, backed up by on-chain chart data from IntoTheBlock, around 3.30 trillion SHIB were withdrawn from known crypto exchanges in July, the highest SHIB withdrawal rate in recent months. The chart’s data also shows that the circulating supply of the token within exchanges fell from 86.69 trillion to around 83 trillion by the end of the month. Related Reading: USDT Issuer Tether Reports A 30% Decline In Profit July 19 saw the most significant withdrawal from exchanges, with more than two trillion tokens going into unknown wallets. According to on-chain data from @WhaleAlert, an Ethereum whale transferred 2.4 trillion SHIB tokens worth $18.7 million from Binance.US into an unknown wallet. With the price of the token up by 10% since then, the whale’s SHIB holding is now valued at more than $20 million.  These massive SHIB withdrawals can be traced to the announcement of the Layer 2 blockchain, Shibarium, which is expected to help minimize gas fees and increase the transaction speeds of the blockchain. Token price falls to $0.00000821 | Source: SHIBUSD on Tradingview.com While there’s still no official launch date for Shibarium yet, the high rate of withdrawals likely signals that SHIB investors are reducing the selling pressure and want to hold their tokens in private wallets in hopes of what the Shibarium launch might bring.  Withdrawals From Exchanges Reduces Selling Pressure On SHIB When SHIB is withdrawn from exchanges, it can’t be readily sold. This reduces the available supply of SHIB for sale, putting upward pressure on the price. When whales transfer such high amounts into self-custody, it frequently results in massive price changes and a rise in interest from other investors. This flurry of withdrawal into self-custody demonstrates the strength of the SHIB community and their faith in SHIB’s future. Related Reading: Is It A Good Idea To Buy Curve Now? Here’s What This Founder Thinks The meme-inspired token has gained quite a lot of community and has led the entire crypto industry in gains for the past two weeks. Shibarium’s launch is anticipated and SHIB holders want to make sure they capitalize on everything the new scaling solution will offer.  At the time of writing, SHIB’s market cap is nearing $5 billion after it recently retook the 14th position by market cap. The meme coin is trading at $0.000008314 and is up by 7.55% in the past seven days. Featured image from iStock, chart from Tradingview.com

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