Shiba Inu Whale Cashes Out 100 Billion SHIB, Fueling Market Speculation

Key takeaways

• A Shiba Inu whale profited massively by selling 100 billion SHIB during a bull run, netting $2.85 million in profit.
• The whale address still retains 2.5 trillion SHIB tokens, indicating confidence in the asset's potential for further price increases.
• Market analyses point to a possible new all-time high (ATH) for SHIB amid growing bullish momentum, considering its 16% intraday pump.

Whale Mints Massive Profits As Shiba Inu Gains Momentum

Shiba Inu (SHIB) is experiencing significant price momentum, drawing market attention to the actions of large investors.

Notably, Etherscan's on-chain analysis from November 12 revealed a smart whale who capitalized on the bull run by moving 100 billion SHIB. The asset, worth $2.85 million, was moved to the crypto exchange Gemini.

This strategic move allowed the whale to secure profits while still holding a significant amount of SHIB tokens, signaling confidence in the asset's future.

The whale, associated with the address 0xd6B, initially acquired 15.28 trillion SHIB for $3.8K in August 2020. At SHIB's peak, the value of these holdings soared to nearly $1.22 billion.

Despite recent sell-offs, the whale's address still holds 2.5 trillion SHIB, valued at approximately $75.2 million.The profit record of $123 million underscores a savvy approach and hints at expectations for continued price growth.

Whale Movements Signal Market Optimism

Another whale, linked to address 0xa145B, recently sold 83.36 billion SHIB, equivalent to $2.42 million, to Binance. Despite this significant transaction, the whale retained 373.26 billion SHIB, valued at $10.82 million.

These strategic moves, involving partial sell-offs but retaining large holdings, reflect optimism for SHIB's price potential.Such maneuvers by high-profile investors have sparked excitement among traders and boosted confidence in SHIB's prospects.

The market's bullish sentiment is further reinforced by SHIB's intraday price rise of 16%, trading at $0.00002901. This comes amid a broader surge in the crypto market following Bitcoin's new ATH. SHIB's weekly gains were recorded at 65%, emphasizing its strong performance and increased investor interest.

Could SHIB Achieve a New ATH?

Shiba Inu SHIB's recent market activity has captured significant attention due to its intriguing performance trends. The asset's trading volume has surged impressively, growing to over $10.23 trillion, a strong engagement from traders and investors.

However, amidst this heightened activity, Shiba Inu has formed a bearish candle following a streak of three consecutive bullish candles. This shift suggests a potential pause or correction in the upward momentum that the coin recently enjoyed.

Additionally, the asset's momentum appears to be waning, signaling a possible change in market sentiment or a consolidation period. Some may interpret this as a calm before spike" phase.

Given the recent positive momentum, analysts and investors wonder if SHIB is heading towards a new ATH. The coin's impressive burn rate is fueling this speculation, with nearly half a billion SHIB destroyed recently.

This action aligns with the coin's ongoing price increases, highlighting a positive correlation between SHIB's burn strategy and market value.

SHIB's current rally might continue, with the potential to break key resistance levels at $0.000028 and $0.000046.If these thresholds are surpassed, a new ATH for SHIB could be within reach.

Crypto enthusiasts remain attentive, eyeing the dog-themed token's next moves as it rides the momentum sparked by recent market dynamics.

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