Shiba Inu Coin is making waves as the ‘whales’ (Big Investor) have started to move their assets off exchanges. This action is a strong signal of their confidence in the meme coin’s future and a bullish trend in the market.
Big investors in Shiba Inu Coin are keeping their coins instead of selling them, which shows they think the value will go up. A company that analyzes blockchain data noticed that since May 27, there’s been a bit less SHIB available for trading. This is also happening with other cryptocurrencies like Chainlink (LINK) and Ethereum (ETH), where the biggest holders are not keeping as much on trading platforms.
Even though the prices of Shiba Inu Coin, ETH, and LINK have gone down a little recently, they have been going up over the last month. The Shiba Inu community is also working on making fewer SHIB coins available, which could make them more valuable. These actions by the big investors are seen as a good sign for the future of these cryptocurrencies.
Shiba Inu Coin: A Positive Sign for Investors
A firm that analyzes blockchain has noticed that since May 27, the largest owners of Shiba Inu Coin have reduced the amount they’re selling by 2.4%.
This usually means they plan to keep their coins for a long time, which is good news for people who think SHIB’s value will go up.
Shiba Inu Coin: The Trend isn’t Limited
Not just Shiba Inu Coin, but Chainlink (LINK) and Ethereum (ETH) are also seeing big holders keep more of their coins to themselves, with LINK down by 2.9% and ETH by 8.6% on trading sites. This means experienced investors might be planning to hold onto their coins for a while, hoping they’ll be worth more later.
Even though the prices of Shiba Inu Coin, ETH, and LINK have gone down a bit in the past week, they’ve actually been going up over the last month. ETH went up by 20.6% and LINK by 18.4%, so things could still look up for them.
Shiba Inu Coin: Token burn
Moreover, the Shiba Inu community has been actively engaged in ‘token burns,’ effectively reducing the supply of SHIB in circulation. This strategy could lead to increased demand and a subsequent rise in the token’s value, especially considering SHIB’s position as the second-largest meme coin by market capitalization.
As the crypto market continues to evolve, the actions of these ‘whales’ will be closely watched. Their current strategy of holding
Also Read- Shiba Inu Coin Burn: Rate Up By 3010% as Whales Buy $232M SHIB
