Top Whales have geared up to take advantage of the dip opportunity. Now Shiba Inu, the second-largest meme-coin after Dogecoin, has attracted investors. The Etherscan data reveals that over 8.5 billion SHIB tokens were transferred in just two transactions today and this has happened in a short period of time.
According to reports, a wallet named MEV.bot has transferred around 4.3 billion SHIB to an unknown wallet. During the second transaction, 4.2 million SHIB were transferred between two unknown wallets. During the time, both transactions were worth around $208,165.
This was not it, during the day, yesterday, there was also another important transaction of around 2.4 billion SHIB to Binance wallet.
WhaleStats data, a tool that tracks the metric, shows that since last year, a time during which SHIB gained a lot of prominences, the token is seen among the top ten holdings of the 1000 largest Ether wallets. Today, SHIB ranks as the second-largest holding among the investor’s category and the total holdings amount to over $1.5 billion worth of SHIB.
Among the top 500 ETH whales holding, Shiba Inu just missed the first place as the FTX token took over SHIB in just a few numbers. Also, the WhaleStats data indicates that out of the top 500 ETH whales, Shiba Inu smart contract is the most used Ethereum smart contract.
Shiba Inu Price Action
The chart below suggests that SHIB Price is all set for 100% gain as at present, The meme token has entered a decisive demand zone trading between $0.0000235 to $0.0000263. Once SHIB breaks $0.0000263, the token is expected to see a huge rally.
At the time of reporting, Shiba Inu is trading at $0.00002381 with a decrease of 3.99% over the last 24hrs. The upswing for SHIB Price is expected to happen in a cumulative way, like a 40% rise in the beginning, then the token is expected to undergo a small correction before rising, and then the price is predicted to double in the near term.
Hence, taking these factors into account traders can take advantage of buying the dip opportunity!
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Source: https://coinpedia.org/altcoin/shib-price-poised-to-double-if-this-happens/