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**2.4 Trillion Shiba Inu (SHIB) in 24 Hours: Are Whales Bullish?**
The cryptocurrency market has witnessed a flurry of activity recently, with many altcoins experiencing significant price swings. Amidst this backdrop, the popular meme cryptocurrency, Shiba Inu (SHIB), has been trading in an extremely narrow range around $0.000028 per coin all along.
While some may view such a pattern as uneventful, we believe that it is essential to consider the data in the context of the price action. The charts suggest that major investors in the Shiba Inu token are currently actively accumulating the token at an unprecedented rate.
Over the past 24 hours alone, a staggering $2.4 trillion worth of SHIB has changed hands. This extraordinary level of trading activity is not something we typically see, especially considering the relatively narrow range in which the cryptocurrency has been trading.
It’s clear that one day, the calm on the SHIB price chart will erupt into a significant movement – and while money is being bet, it will likely be upward.
The sheer volume of accumulation by major investors suggests that there may be a lot more going on beneath the surface than initially meets the eye. We believe that this whale activity could very well be an indication that large-scale players in the market are confident about SHIB’s future prospects.
As we have previously reported, we see no reason why SHIB shouldn’t continue to climb higher and potentially reach new highs.
It’s essential for investors and traders alike to remain cautious and keep a close eye on market developments as they unfold.
Source: u.today
