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Shiba Inu Whales Make $2.79 Trillion SHIB Move: What’s Next for the Price?
A sudden and massive whale movement has sparked concerns about the future direction of Shiba Inu’s price. As Tomiwabold Olajide, a renowned cryptocurrency analyst, pointed out in his latest report, this significant transaction could potentially have a significant impact on the market.
According to the recent data, whales, large-scale investors or holders, have moved a staggering $2.79 trillion worth of SHIB tokens. This enormous sum has raised eyebrows within the crypto community, with many wondering what implications it may have for the token’s future performance.
In his article, Olajide suggests that if Shiba Inu breaches the critical resistance level near $0.000033, we might see a significant price increase to around $0.000039 and eventually to $0.000046. However, he also warns that if the cryptocurrency falls below its 50-day SMA at $0.0000246, the bears could gain control.
The RSI (Relative Strength Index) has reached the midpoint, indicating that SHIB’s price may continue to trade within a range over the coming days, without any significant changes.
Source: u.today
