HomeBinance UpdatesWhales drive massive movement in Shiba Inu price, causing it to soar

Whales drive massive movement in Shiba Inu price, causing it to soar

Shiba Inu Token Transactions Surge on Major Exchange Platforms

In a recent surge of large-scale cryptocurrency transactions, Shiba Inu has taken the spotlight as major exchange platforms like Binance, Coinbase, and Kraken moved almost 1.5 trillion SHIB tokens within 24 hours. This significant movement has caused a surge of 9.10% in the value of a single SHIB token, which is currently paired against the US Dollar at $0.00002532.

Analysts believe that these massive transactions indicate potential accumulation via exchange platforms, although the exact reasons behind the transfers remain unknown. The token’s technical analysis shows a mixed signal, with the possibility of both a decline or a surge in value. Other exchange platforms like Gate.io and Robinhood also tested the transfer of SHIB tokens, with a key resistance zone set at $0.000024.

With the aim to dethrone DOGE from the top position in the meme coin segment of the crypto market, Shiba Inu’s market capitalization currently exceeds $14.98 billion. The SHIB army remains optimistic about reaching the number one position on the chart, with a predicted value of $0.000040 by the end of the year.

The race to the top of the memecoin chart is on, with Shiba Inu poised to rise in the global crypto market. Stay tuned for more updates on this evolving story.

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