Shiba Inu whales have been making notable moves in the market recently, indicating their anticipation of more positive price actions for the meme coin. As Shiba Inu inches closer to its all-time high, on-chain data reveals that over 332 billion SHIB tokens were transferred from Cumberland, a trading firm, to a wallet linked with popular crypto trading platform Robinhood. This wallet has been acquiring SHIB on a large scale over the past few days, potentially signaling increased customer interest in the meme coin.
In addition to Robinhood, other platforms such as Crypto.com have also witnessed a surge in SHIB trading. The exchange saw a substantial increase in its SHIB holdings within the past 24 hours, with 2 trillion SHIB tokens flowing from one of its hot wallets to another. This rise in SHIB adoption is likely driven by the significant price surge the coin experienced this month, prompting investors to position themselves for further potential price increases.
Crypto analysts Ali Martinez and Michaël van de Poppe have shared their perspectives on SHIB’s price trajectory. Martinez envisions the coin reaching as high as $0.000052, with $0.000033 serving as a critical support level to be reclaimed. Van de Poppe believes that undervalued altcoins like SHIB still have room for an upward trend, potentially breaking their all-time highs or coming close to doing so in their next run.
As of now, SHIB is trading around $0.00003256, reflecting an increase over the past 24 hours. However, it is essential to conduct thorough research and consider the risks associated with investing before making any investment decisions.