Here’s How Shiba Inu (SHIB) Price Could React to Latest $12M Fundraise
Shiba Inu SHIB Price Action | Source: TradingView

Prominent crypto venture capitalists such as Animoca Brands, Comma 3 Ventures, and Stake Capital were some of the major backers listed in Shiba Inu’s funding round.

Unsurprisingly, Shiba Inu’s price quickly rose 20% within 72 hours of the announcement, as bullish traders focused on the potential profit frontier from the disputed Layer 3 blockchain development. .

Looking beyond price trends, on-chain data tracking shows how a surge in whale investor activity was the key catalyst behind SHIB’s rise.

Shiba Inu Whale resumes activities after announcing funding

When the global cryptocurrency market entered a correction phase in mid-April, Shiba Inu Whale significantly reduced its trading activity. But after the team’s $12 million funding announcement, on-chain data shows the whales are back on the scene.

IntoTheBlock’s large trades indicator tracks individual trades with a value of more than $100,000 on a given day and serves as a proxy for monitoring whale activity.

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