Overview

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Despite being 74% below its all-time high, SHIB shows promise with recent gains and active whale participation. The broader crypto market continues riding a bullish Shiba Inu whales accumulated 631B SHIB in 3 days, signaling strong confidence despite ongoing price declines. Positive netflows and rising burn rates point to According to CoinGecko, Shiba Inu is down 15.3% over the 7-day chart but saw a 9.5% increase over the last 24 hours. Although the market is still on a bearish curve While ETH whales were seemingly bullish on SHIB, Shiba Inu whales and HODLers were still skeptical of the price. Notably, address statistics for SHIB showed a 7-Day The Ethereum whale known by the name ‘Jiraiya’ has purchased $1,079,500 worth of Shiba Inu equal to 49,998,760,270 tokens, according to the platform WhaleStats Shiba Inu surges 114% YTD, with Ethereum whales driving interest as they accumulate SHIB and Remittix for cross-border payments. Shiba Inu ’s price has surged over

Are Shiba Inu (SHIB) and Ethereum whales still bullish? Despite being 74% below its all-time high, SHIB shows promise with recent gains and active whale participation. The broader crypto market continues riding a bullish wave, and Shiba Inu seems to be benefiting, fueled by Ethereum whale activity.

Ethereum Whales Accumulate SHIB: A Sign of Confidence?

Shiba Inu whales accumulated 631B SHIB in 3 days, signaling strong confidence despite ongoing price declines. This significant accumulation suggests that major investors believe in the long-term potential of Shiba Inu. Positive netflows and rising burn rates point to potentially bullish future price action.

Shiba Inu Price Performance: A Rollercoaster Ride

According to CoinGecko, Shiba Inu is down 15.3% over the 7-day chart but saw a 9.5% increase over the last 24 hours. Although the market is still on a bearish curve, these short-term gains offer a glimmer of hope for SHIB holders. Shiba Inu’s price has surged over 114% YTD, with Ethereum whales driving interest as they accumulate SHIB and Remittix for cross-border payments.

Conflicting Signals: Whale Sentiment Mixed?

While ETH whales were seemingly bullish on SHIB, Shiba Inu whales and HODLers were still skeptical of the price. Notably, address statistics for SHIB showed a 7-Day decrease in active addresses, suggesting some caution within the SHIB community itself. However, the actions of Ethereum whales often foreshadow broader market trends.

‘Jiraiya’ the Whale: A Million-Dollar SHIB Purchase

The Ethereum whale known by the name ‘Jiraiya’ has purchased $1,079,500 worth of Shiba Inu equal to 49,998,760,270 tokens, according to the platform WhaleStats. This substantial investment further reinforces the narrative of Ethereum whales' continued interest in Shiba Inu.

The Future of SHIB: Bullish or Bearish?

The interplay between Ethereum whale accumulation, recent price gains, and mixed sentiment among SHIB holders makes predicting the future of Shiba Inu complex. Keep an eye on whale activity, burn rates, and overall market sentiment to gauge the long-term potential of this popular meme coin.

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