The Price Prediction for Shiba Inu at $300 Million – Are Whales Buying Shiba Inu?
The price prediction of Shiba Inu has been a hot topic due to its $300 million trading volume. Investors wonder if the large-scale buying of large investors, also known as “whales”, is behind this increase in trading activity.
Many are watching closely the movements of the whales as they speculate about the future price of Shiba Inu to determine its potential growth.
It’s worth looking at the fundamentals and how they affect the price of SHIB.
After a new listing, LEASH, Shiba-Inu’s Token, sees an increase of 913% in trading volume
The LEASH token of Shiba Inu has seen a dramatic increase in trading volume since its listing on a new exchange. Due to its unique features, and strong community support, the token was initially launched as a Dogecoin killer.
LEASH’s trading volume has increased by more than 900% since the exchange XT.com was listed. The exchange is registered in Seychelles, and has its headquarters in Hong Kong. It offers LEASH trading pairs with USDT or BTC. This makes it more accessible for a wider range investors.
The phenomenal rise in trading volume of LEASH has attracted the attention many in cryptocurrency, sparking discussion about its potential for future growth. Experts suggest that listing on XT.com could mark a major milestone for the token. This will allow it to reach a larger audience and gain momentum.
Strong community support for Shiba Inu tokens and related tokens has contributed to the recent rise in trading volume. Many supporters have bought and held the tokens as long-term investments.
Some investors are cautious despite the hype surrounding LEASH. They warn that the token’s price may fluctuate and be subject to market fluctuations. Experts warn that the recent spike in trading volume could be temporary and that token’s long-term success depends on market trends and community adoption.
Despite this, listing LEASH on XT.com generated much excitement and interest in cryptocurrency communities, with many investors anxiously watching to see how the token’s trading volume and price will change.
The price of Shiba Inu currency has been affected by the increasing number of cryptocurrency whales that are selling meme-coins. These whales used to have $1 billion worth of SHIB coins, according to reports.
SHIB coin prices have fallen due to the bearish trend in cryptocurrency markets and the Federal Reserve’s hawkish stance.
Shiba Inu ($SHIB), Surpasses 1.3 million Addresses Before Shibarium Launch
Recent numbers have surpassed 1.3million addresses that hold Shiba Inu ($SHIB), which is a meme-inspired cryptocurrency on Ethereum blockchain. This is just before Shibarium, the layer-2 scaling solution for the project, was scheduled to launch.
According to statistics gathered from the Ethereum blockchain by CoinMarketCap, and first reported Finbold, there are 1.305 million Ethereum addresses that hold SHIB. This cryptocurrency has exceeded the 1.3 Million address mark in just a month. It began the year with 1.275,000,000 addresses.
Prospects of Fed Interest rate Hike Affect Shiba Inu Pricing
The release of US economic data on Saturday caused the cryptocurrency market to close negatively. This led to speculations that Federal Reserve might take a more aggressive approach in raising interest rates to reduce inflation.
Friday’s figures showed an increase of 0.8% in export prices annually, contrary to the 0.2% predicted decline. Also, the previous week’s statistics showed that there were fewer applications than expected for unemployment benefits. There was also an increase in producer prices for January.
Some investors are now preparing for tightening due to the data and the hawkish comments made by two Fed officials Thursday. Shawn Cruz, TD Ameritrade’s Chicago head trading strategist, said that some investors were triggered by the numbers.
Significant factors that negatively impacted Shib coin prices were negative sentiment in the cryptocurrency market and possible interest rate increases.
Shiba Inu Price Prediction
The most recent trading session saw Shiba Inu’s (SHIB), continuing its bearish trend and dropping by more than 1%. This drop coincided with Bitcoin’s unexpected halt to its bullish run following the CPI news. Shiba Inu trades at $0.000013, with a 24-hour trading volume $268 million.
Shiba Inu’s stock price has dropped by 0.89% in the last 24 hours. Shiba inu is currently ranked 14th on the market. The live market cap for Shiba Inu is $7.2 billion.
Technically, Shiba Iu couldn’t surpass $0.0000132. This level is driven by downward trendline resistance. If the cryptocurrency falls below this level, it will likely find support at $0.0000126.
The downside is that if the price falls below $0.0000126, the next target might be $0.00001170.
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