Shiba Inu (SHIB) has been garnering attention as large investors, known as whales, accumulate significant amounts of the cryptocurrency. This may signal upcoming market changes and affect SHIB's price.
Shiba Inu's Price Dynamics
Currently, Shiba Inu is priced at $0.00001778, with a 24-hour trading volume of $334.91 million and a market cap of $10.48 billion. Over the past 24 hours, SHIB's price has decreased by 4.38%. The all-time high was reached on October 28, 2021, at $0.00008819. There are 589.27 trillion SHIB circulating with a max supply of 589.74 trillion.
Whale Activity and Potential Price Breakout
Recent developments with Shiba Inu suggest a potential price breakout. A supply reduction, with 279 million SHIB burned and moved off exchanges, hints at whale accumulation. This could increase prices if demand rises. Analytics show a 15% rise in large holders' SHIB inflows recently, indicating possible market rallies.
Potential for Substantial Gains for Shiba Inu
Recently, SHIB's price has grown by 159%. Despite being 80% down from its peak, there is significant room for recovery. Improved liquidity and market consolidation may drive its price to $0.000045.
Key factors such as liquidity, bullish sentiment, and whale accumulation set a positive stage for SHIB's continued growth. With sustained momentum, the cryptocurrency could achieve new heights in the longer term.
