Shiba Inu Whale Buys Big as SHIB Faces Volatility
The Essentials at a Glance
– A single Shiba Inu (SHIB) whale has purchased 257.5 billion coins.
– Despite this move, SHIB’s market value dropped by $1.3 million USD in January.
– SHIB is currently trading 13% below its value at the start of the year.
– Recent purchases could indicate market manipulation or the beginning of a new upward trend.
SHIB Whales in Focus
Shiba Inu, one of the most well-known memecoins, has experienced a turbulent phase in recent weeks. The top ten wallets holding SHIB currently own 130.47 trillion coins. In January alone, 3 trillion coins were added. However, the price failed to benefit and continued to decline.
Notably, within the last ten days, the top ten addresses have offloaded 30 trillion SHIB. These sales have significantly impacted the supply-demand balance, pushing the price into a downward spiral.
A Possible Turning Point?
Despite the negative developments, there are initial signs of stabilization. SHIB has gained 6% in the last 24 hours. The current price is close to the level observed during the so-called “Election Rally,” when the coin surged 58% within a week.
The question remains: Is this the start of a new upward trend or merely short-term market manipulation? Notably, trading volume is currently only $600 million USD – far from the $7.6 billion USD reached in December.
Manipulation or Long-Term Opportunity?
A look at the numbers shows that whales purchased a total of 40 trillion SHIB in January. These purchases could stabilize the market, but without the return of retail investors, the risk of short-term manipulation remains high.
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The low trading activity and increasing volatility ahead of key decisions by the U.S. Federal Reserve (FOMC) could also indicate that the recent price increase is not sustainable. However, if the market enters a bullish phase, another surge of up to 58% could be possible.
Our Assessment
The recent movements of SHIB whales raise more questions than they answer. While the purchases hint at potential market stabilization, trading volume remains low, and market conditions are uncertain.
For investors, this means caution is warranted. The current situation could represent both an opportunity and a risk. Close monitoring of the market and further activities of the whales is crucial for making informed decisions.
Sources
– TradingView
– Santiment
| Symbol | DOGE |
| Coin type | Alt Coin |
| Transaction Speed | Medium |
| Pros |
|
| Cons |
|
| Price | $0.33 |
| 24h % | 3.33 % |
| 7d % | -5.42 % |
| 30d % | 2.36 % |
| 60d % | -23.41 % |
| 1y % | 312.38 % |
| Market Cap | $49,408,224,778.00 |
| Official Links | Website | Source Code |
| Socials | Reddit | X |
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