(Shib price) The ninth largest Ethereum whale on the market has purchased 72.266.047.517.25 from Shib Inu and now owns a total of 1.831.517.309.563.27 SHIB. New historic high ahead?
Although the Shiba Inu (SHIB) price has lost more than 50% of its value since the cryptoactive registered its highest historical value in October (US$ 0.000086), this did not discourage SHIB investors, on the contrary, the movement downward is increasingly attracting the Great Ethereum Whales (ETH).
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Blockchain data has revealed that ETH whales are accumulating SHIB which has become one of the favorite tokens of great Ethereum keepers. Proof of this is that the ninth largest Ethereum whale on the market recently bought 72,266,047,517.25 from Shib Inu, which corresponds to more than $2.57 million.
According to whale monitoring website WhaleStats, the massive portfolio now holds a total of 1,831,517,309,563.27 SHIB. In addition, the address contains 347 cryptoactives worth over $286.11 million.
The latest figures from WhaleStats show that, in the last 30 days, investors in cryptomeda, in addition to SHIB, have purchased an average of $8.42 million of Ethereum (ETH), $2.89 million of Stablecoin Tether (USDT) and $2 .46 million FTX Token (FTT), the native token of the FTX cryptographic derivatives exchange.
The interest of major Ethereum investors in Shiba Inu may be related to an expectation when the memecoin appreciation, which according to the analyst known as Altcoin Sherpa, is ready to start a big bullish movement.
According to the cryptocurrency strategist, SHIB price can take a quick leap if it manages to break a key resistance that has been acting as a limiter for the cryptoactive price.
SHIB, the native cryptocurrency of the Shiba Inu network, has been on a roll lately. The price of SHIB has surged by over 400% in the past month alone.
However, one cryptocurrency strategist believes that the price of SHIB could take an even bigger leap if it manages to break a key resistance level.
The analyst in question is known as “Big Cheds” on Twitter. He recently shared his thoughts on SHIB’s price action and stated that the coin could surge to $0.50 if it manages to close above $0.042.
$SHIB / USDT
“I think we close today above $0.042”
, we run to $0.50
If you want to take part in the action, be my guest
If not, that’s cool too pic.twitter.com/4UwIUyTKJj
— Big Cheds (@BigCheds) May 12, 2021
At the time of writing, SHIB is trading at $0.036 and is up by over 10% in the past 24 hours. The coin’s recent price surge has taken its market capitalization to $6 billion and has helped it climb up the rankings on CoinMarketCap.com.SHIB is currently the 18th largest cryptocurrency by market cap and is only behind popular coins such as Ripple
“SHIB: The short-term fund is probably in. Waiting for some kind of lower rally to form. If this consolidates at 0.50 [Fibonacci level], a more explosive move will come (but it will take much longer in my opinion). ”