A significant movement of Shiba Inu (SHIB) tokens has been observed as a whale transferred over 1.6 trillion SHIB, valued at approximately $39 million, from Crypto.com to private wallets. This activity has rekindled conversations regarding the SHIB token.
In the cryptocurrency markets, such whale transactions are often seen as precursors to major price movements. Specifically, whales entering the market tend to buy in large quantities, initiating accumulation phases which can influence the token's price trajectory.
As SHIB prices have been struggling, this whale activity might be a sign of a potential bullish reversal on the horizon, sparking intrigue among investors and market analysts.
Source : www.thecoinrepublic.com ↗