TL;DR
- 1.3 trillion Shiba Inu (SHIB) tokens were withdrawn from exchanges, driven by whale activity.
- Despite a slight price drop, investors are expecting a major rally in SHIB’s value.
- Whales are accumulating tokens for the long term, a sign of confidence in future price increases.
Shiba Inu (SHIB) has seen a significant rise in whale activity, with over 1.3 trillion tokens withdrawn from exchanges on October 29.
This massive movement has sparked interest in the crypto community, which anticipates that this accumulation may signal an upcoming price rally.
Although SHIB doesn’t follow the price trajectory of other cryptocurrencies like Bitcoin (BTC) or Dogecoin (DOGE), expectations of a substantial increase in value are growing, supported by the whales’ strategy.
Currently, Shiba Inu is trading at $0.00001854, showing a slight decrease of 1.56% in the past 24 hours.
Despite this minor pullback, large investors continue to accumulate tokens, indicating confidence in the asset’s long-term potential.
According to a report from CryptoQuant, the amount of SHIB withdrawn from exchanges shows a strong buying trend among whales, a critical factor that could inject bullish momentum in the coming days.
The behavior of whales in the Shiba Inu market is especially relevant due to their ability to hold positions long-term.
These large asset holders typically do not sell hastily, which means there is less pressure for a mass sell-off.
This strategy often anticipates an increase in the value of tokens, which is optimistic for SHIB investors.
Although it doesn’t strictly follow the same pattern as Bitcoin or Dogecoin, Shiba Inu‘s potential to trigger a price rally is ever-present.
Possible price surge for Shiba Inu
Despite Shiba Inu experiencing a slight price correction recently, analysts see this as a healthy adjustment before a potential surge.
Whales have shown constant interest in accumulating more SHIB tokens, reinforcing confidence that the price could see a significant jump.
These large investors are not only buying in large amounts but also doing so with a long-term perspective, unaffected by minor market fluctuations.
In comparison to Dogecoin, which has closely followed Bitcoin’s behavior in recent weeks, Shiba Inu has a lower correlation with BTC.
However, this relative independence could also work in its favor in a highly volatile market, allowing SHIB to maintain its own pace of growth.
With massive accumulation by whales and a community eager to see a new price peak, the outlook appears promising.
In the coming days, experts will closely watch whale movements and potential signs of a bullish breakout in SHIB‘s price.
If interest continues to grow, Shiba Inu could surprise with a significant rally, positioning itself as one of the standout cryptocurrencies in the meme market.
