A big crypto investor has bought 2.7 trillion Shiba Inu coins from a crypto exchange which leads to the expectation of an increase in its price.
Shiba Inu is a dog-themed meme cryptocurrency. Today Shiba Inu investors are very happy. The main reason behind this is a big crypto investor has bought 2.7 trillion Shiba Inu coins from a crypto exchange. Shiba Inu developer said good things about the coin due to which the trust of investors has further increased. This investor now holds $653.52 million worth of SHIB coins, which shows that he has full trust in this cryptocurrency. The price of SHIB has increased 4.67% in the last week and now it is some higher at $0.00001789.
Technical analysis shows that the price may rise and can reach $0.0000386 further, by the end of the month. But the situation is stable right now, the price may increase if more people buy the coins.
SHIB Inu Coin: Whale Sacks 2.7 T Coins
According to the tracking website Whale Alert, A big investor buys 2.7 trillion Shiba Inu coins from the Robinhood crypto exchange. Which is worth approximately $48.34 million and the investor’s address is 0x40b38765.
According to Etherscan the investor now holds $653.52 million worth of Shiba Inu coins. This big purchase has increased the trust of investors and they think that the price of the coin may increase in the future.
SHIB Inu Coin: SHIB Price Gains Momentum
SHIB price has increased by 1.87%, and it is now trading at $0.00001789. Its lowest price was $0.00001705 and the highest price was $0.00001815 in the last 24 hours. SHIB price has increased in the last week.
A bullish reversal pattern, called a “Rounding Bottom,” is visible on the weekly charts of SHIB. This means that the coin’s downtrend may end and its price may reach $0.0000386 by the end of the month.
However, the 14-day RSI is at 50, which means the asset is currently in a neutral position. More buying could push the price higher, which is good news for the future of SHIB. The cryptocurrency market is highly volatile in nature. One should do their own research before investing in any cryptocurrency.
Also Read:- Dogecoin Price Surge: Can It Reach $1?
