Shiba Inu Whales Move Over 3.19 Trillion SHIB, Where Are They Headed?

Shiba Inu Amid the ongoing battle between bulls and bears, the stock has consistently traded above $0.000021 for the past week.On-chain data shows severe movement of whales during this period, reaching trillions of SHIB Shuffle in and out of the exchange.

SHIB prices fell at the beginning of the week after a prolonged decline in the previous week.As the week progressed, things started to change change to aggressive behavior To resistance just below $0.000028 at the end of the week. Interestingly, on-chain trading data from Whales shows that major holders moved trillions of SHIB over the weekend, with 3.19 trillion SHIB moved in the past 24 hours.

Recent on-chain data shows massive activity of SHIB whales

according to Into the Blocks Extensive transaction volume data shows that the number of Shiba Inu transactions over $100,000 increased significantly last week, with transaction value over $100,000 reaching $661.5 million. On April 19th alone, SHIB transactions in this cohort reached 6.36 trillion SHIB (equivalent to $144.76 million). Especially large trades in the past 24 hours amounted to 3.19 trillion SHIB, $82.49 million.

lots of SHIB on the move, the big question is where are these whales sending their tokens? Interestingly, on-chain data shows large-scale transactions consisting of back and forth on and off exchanges, indicating mixed sentiment among large holders.a Notable deals Sunday included the movement of 100 billion SHIB tokens to cryptocurrency exchanges. Investor speculation is that this could be a whale sell-off, suggesting that prices could fall in the short term.

What does this mean for Shiba Inu owners?

For the average SHIB investor, whale activity is both exciting and concerning. While larger holders and increased trading may indicate growing mainstream interest and adoption of the token, their movements also indicate have a big impact on price. Shiba Inu enjoys positive price fluctuations as whales accumulate from the exchange. However, as in the case of Sunday’s 100 billion SHIB trade, movement on the exchanges suggests a decline.

At the time of writing, SHIB is trading at $0.00002726, up 6.65% from $0.00002556 over the past 12 hours. The Shiba Inu also increased by 16% over a longer period of 7 days. replace cardano In terms of market capitalization ranking.

SHIB price movement this week should be full of action As the week progresses, the bulls are currently retesting the $0.000028 resistance. According to IntoTheBlock’s “In/Out Of The Money” metric, 6.62 trillion SHIB tokens were purchased at this price level and 28,760 addresses were waiting to profit. A breakout of this price level will indicate further resistance levels at $0.000029 and $0.000030.

Shiba Inu price chart on Tradingview.com

SHIB price at $0.000026 | Source: SHIBUSDT on Tradingview.com

Featured image from The News Crypto, chart from Tradingview.com

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