In the volatile and constantly evolving atmosphere of the cryptocurrency world, the accumulation of Shiba Inu (SHIB) by large investors, known as “whales”, is attracting great interest. In the last three months, Shiba Inu whales have collected SHIB tokens worth a full 300 million dollars. This situation emphasizes the bullish views on this particular meme cryptocurrency.
The crypto community has long known the significant impact these whales have. Investments worth billions of dollars can directly affect the price movement of a token. In the case of Shiba Inu, the continuous accumulation of whales indicates confidence in its long-term growth potential, despite being classified as a meme coin.
Effect of Whales on the Price
Taking a closer look at the daily Shiba Inu charts, significant patterns related to price movement stand out. There is a noticeable uptrend concurrent with the periods when whales accumulate. This emphasizes that as large investors increase their SHIB investments, the price responds positively.
However, understanding the broader context is also important. Although Shiba Inu and other meme coins have offered explosive returns in short periods, they have not yet solidified their positions in the mainstream market. The volatility associated with such tokens is still a major concern for many traditional investors.
But, the recent corrections observed in significant assets like Ethereum and Bitcoin could revive interest in meme cryptocurrencies. As mainstream players pull back, investors may look for alternative opportunities, which could present an opportunity for meme coins like Shiba Inu to shine.
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